This page has been archived and commenting is disabled.
Not Even Buyback Of A Stock Can Save Camera On A Stick: GoPro Plunges To All Time Low On Earnings
In a day in which the walking dead were on the verge of going green (Twitter nearly wiped out its entire loss following last night's earnings), there was some hope that momo stocks would finally make a come back. Alas, for the company which we first dubbed "camera on a stick" it was just not meant to be.
Moments ago GoPro announced Q3 sales and EPS of $400.3 million and $0.40. All else equal, the 43% increase in the topline would have been sufficient, but alas it was another case of badly mismanaged expectations, and with Wall Street expecting a $433.6 million in sales and $0.45 in EPS, yet another company was relegated from the "story" growth category and into the borderline value trap bucket.
As a result, the CEO's cheerful remarks...
"I am proud of our year-to-date accomplishments in which we posted strong financial results and expanded our portfolio of products, however our business in the third quarter was clearly more difficult than anticipated," said GoPro Founder and CEO, Nicholas Woodman. "GoPro is entering the holidays with an industry-leading lineup backed by great software solutions and a globally-recognized brand. We are excited about our business and the investments we continue to make to scale GoPro into its next phase as a product, software and entertainment company."
... Fell on deaf ears.
And worst of all was perhaps the company's own admission that it is no longer a "momentum growth" stock when it announced that "The Board of Directors of GoPro authorized the Company to repurchase up to $300 million of its Class A capital stock, commencing in the fourth quarter of 2015."
And like that the growth magic is over, and the result GPRO stock which has crashed as much as 15% after hours plunging to never before seen levels.
»
- 23907 reads
- Printer-friendly version
- Send to friend
- advertisements -
GoPro NoGo NoMo.
Sell GoPro, buy Bitcoin
GoBroke
Cliff dive....I wonder if their newest model can be attached to a stock?
If they were just another company who made a good product (I like mine alot) then it would end right there.
Nope, they needed to go public, IPO, etc.
Think about how much you hate GoPro, NFLX, Apple, Amazon, Chipolte, etc.
It is not because of the company, but because it got involved with the wallstreet pimps who whored them out.
Fucking wallstreet money turns to shit everything it touches.
pods
Can't be a billionaire paying yourself out of the profits of your company Pods.
The dream ain't making your first million through hard work. The dream is making your first billion in seconds with no work at all.
I haven't eaten at Chipotle since they went public. I think I've bought about three things on Amazon in my life, never bought from Ebay. I haven't updated my Facebook profile since they went public. Don't have Netflix.
Exactly, Pods
Step 1: Wall Street/Goldman contact founders--promise the moon;
Step 2: Accounting tricks carry forward costs/amortize everything/overstate projections to increase projected EPS;
Step 3: Collect fees for IPO e.g. Goldmans Sachs NASDAQ 1997-2001 and tell IPO allocated shareholders to illegally "Ladder" the stock price (see multiple class actions from 10 years ago--1 year share restriction to founders/pre IPO owners; collect more fees begin options trading on increased volume, and dump the stock;
Step 4: Pre-IPO owners sell out after one year, EPS "unexpectedly" drops;
Step 5: Asset strip the company, buyback shares, reduce compensation and do "team building" for employees to keep them working without paying them since employee stock options now out of the money;
Step 6: Begin Layoffs
Rinse & Repeat
go low pro?
Fuck them. There's already much cheaper China made knockoffs thstdo more. The brand isn't that strong.
Time to fire more people and buyback stock
I know from a reliable source that the BOM on those things are around $60 bucks. Should sell for under $100, not $400.
$60? Try closer to $30.
The image sensors in those cameras isn't a big ticket item. Sensors that record 1080p at 60fps are less than $10.
You can buy Chinese knockoffs for $20 all day long.
I won't consider those off brand to be Chinese knock off since I have seem them years before GoPro actually started with this GoPro stuff. It's more like GoPro stole the ideas from those off brand manufactures just like those off brand cell phones that carry 2-3 SIM cards, they are now being incorporated to name brand cell phones.
IBD momo chasers, have a drink on me!
GoingLowerPro
GoBroke
can the clownish CEO put one up his ass, like he put one in his mouth at the IPO?... what a fucking tool, thanks to wall street daddy!
https://www.google.com/search?q=nick+woodmaN+GOPRO+IN+MOUTH+PICTURES&biw...
The problem is they gouge customers with overpriced accessories, and the interface blows. The camera itself is pretty awesome. GoPro will eventually become a government teat sucking drone company, though, so probably a good buy here.
People are realizing that they never look the the movies they make.
The average amount of pictures people take on on their vacations is about 2000 plus video's.
If they want to show it to their friends or collegues, they run away.
It's all so much overload
Digital picture frames.
Though this is why I don't have a camera, except for the one i my phone and I never use that. Could never see the point, other people's photos and videos are tedious.
The obsession can be powerful, to preserve life slipping by
You doubters. Will be up 5% tomorrow. There is no logic left in that "place" called wall street.
You can almost hear the screaming on that vertical drop!
I like my Super 8.
I bought a nice Sony handicam at a garage sale for $15.00.
I remember a Barron's article in 2003 listing a bunch of companies who's cash on hand exceeded its equity value.
We shall see this list again soon.
Nicholas should have realized that if you make a product that is easily commoditized, your absolutely fucked in todays global economy.
I wonder how many chinese GoPro knockoffs there are. Probably thousands, because, lets be honest, you can buy a stick for your iPhraud nowadays and have a more shic GoPro.
GoPro was a fad. But that's really all the value it has, and investors were and always are aware of its short lived longevity.
There are loads of knockoffs but most are crap. The GoPro has decent quality video output. There are only a couple of Chinese cameras which come up to scratch on audio and video. But yes they're much cheaper.
Cramer loved GPRO at $80... so it's a steal here?
Amateurs.
http://finviz.com/quote.ashx?t=GPRO&ty=c&ta=0&p=d
Anal pro ? Vagina pro?
First one is called Homo-pro, other one is Popo-pro.
One hit wonder stock.(reminds me of a lot of companies when the first Internet bubble burst)...
One hi wonder stock.....
can you say APPLE?
Squid
The chinese camera on a stick Xiaomi Yi is "almost as good" i.e. is "good enough", but 1/5 the price.
Buhbye Gopro.
How big do they think the market is for $500 fish-eye video cameras that are intended to be put into harms way via "action" sports? Anyone (who isn't wealthy) doing that is using Chinese knock-offs that cost 1/10th the price and give you 90% of the video quality.
Camera on a stick. LMAO
Cramer heard "Go Pro" so he finally put on lipstick and began sucking cock for a living...
Farce of a company. Had a few good quarters and once the market is saturated, the numbers will(have) tumble. Their target audience doesn't have the cash to upgrade each year with a new camera. Fitbit is next. They will grow for a few quarters and then once full penetration( my wife knows nothing about), they will follow GPRO. $300m stock buy back, what a freaking joke.
Do you have $69.
Can you search for Mobius on Ebay.
Well, I did more than one year ago and bought their camera directly from China. Robustly supported free software from US and UK aficionados.
I used the camera in February 2015 on a fishing junket in Argentina. Ok, its not waterproof - I just stored it in a zip lock sandwich bag and pulled it out of my shirt pocket when needed. 1080p video at 30 fps. HD color resolution. Incredible audio. Low light images are quite acceptable. Smaller than a Zippo lighter. 2 hours of battery life. How can GoPro compete with that. I am a very satisfied customer and take my Mobius everywhere.