Why Shares of GoPro Dropped More Than 14% Today

Shares of outdoor action camera developer GoPro (NASDAQ: GPRO) slipped 14% as of the market close today. The company, which hasn't reported a profitable year since 2015, announced yesterday that it is seeking to raise $100 million.

GoPro reported a decent third quarter earlier this month, with revenue more than doubling over the prior-year period. Investors cheered the news and pushed shares up to what amounted to a more than 50% gain since the beginning of September.

Source Fool.com