Hi Friends,
I have been an investor in GoPro for years and have been averaging down as the stock has continued to decline. To me, the value was there as they do over a billion in sales, have no debt, and were close to profitable with a popular product, while having a market cap around $750M. However, the results have been disappointing over the years and the company has underperformed expectations.
Things look to finally be turning around as they announced they reached the 500k subscriber mark paying over $50 per year for their cloud storage/editing app, are coming out with new/better cameras, and are diversifying their offering to include lifestyle/apparel products and are aiming at gaining market share in the work from home/streaming culture that is taking hold.
The stock was up 30% today and I am finally back in the black. I am looking for the mid-teens as an exit point. We shall see.
Do you have any companies you are holding that are down but that you have a strong conviction on your position?
Thanks for coming by,
Brian