3 Reasons GoPro Stock Will Never Hit Another All-Time High
Shares of GoPro (NASDAQ: GPRO) moved higher on Tuesday after it introduced a new line of action cameras. The $399 HERO 8 Black will be 14% lighter than its predecessor, and the $499 HERO Max will raise the stakes by combining a single-lens HERO with a dual-lens 360 camera. The former is evolutionary. The latter is revolutionary. Will it be enough to turn GoPro into a market darling again?
Investors' initial excitement didn't last, something that we also saw with the debut of HERO 7 around the same time last year. This time around GoPro would go on to shed most of its intraday gains before the closing bell on Tuesday, and it continues to trade well below the 52-week highs it hit back in May. Things can change if either of the two cameras -- more than likely HERO Max -- is a hit over the critical holiday shopping season. A strong showing could easily find GoPro reclaiming its springtime highs, but with the stock still trading nearly 95% below its all-time high of $98.47, don't wait up for it to take out its record high-water mark. Let's go over the reasons for why GoPro will probably never score another all-time high.
Image source: GoPro.
Source Fool.com
