Active Stocks: GoPro Inc [NASDAQ: GPRO] has been bearish for months but this morning it is trying to turn the tide. Today, the company has announced that it had started fulfilling pre-orders for its HERO8 Black Cameras, ahead of the official date of October 15th.
According to the CEO, the company is excited to give consumers a feel of this product ahead of expectations. Besides fulfilling pre-orders, the company has also turned on the Trade-Up program for this camera, something that consumers were looking forward to.
On top of the HERO8 black camera news, the company is also well-cushioned from the on-going trade war between the U.S and China. Two days ago, Bloomberg ran a story on how American consumer electronics companies were moving their operations out of China. While the article mainly focused on Tile Inc. and Fitbit Inc, it also mentioned GoPro Inc. According to a GoPro spokesperson, the company had successfully completed the process of moving most U.S-bound camera production from China, a process that started in 2018.
If you look at its price this morning, GPRO is responding well to the positive news around it. In pre-market trading the stock is in the green but that doesn’t mean it will stay in the green. Yesterday GRPO closed at $3.38 and saw a new recent low. The volume yesterday was around 10.3 million shares.
About GoPro Inc
GoPro Inc makes cameras, drones, and mountable accessories. The company sells its products in the U.S and international. Previously known as Woodman Labs Inc, the company was renamed to GoPro in 2014. It has its headquarters in San Mateo, California.