Cramer Does It Again: Camera-On-A-Stick Crashes 30% After Slashing Guidance, Cuts 7% Of Jobs
Who could have seen this coming? Week after the CEO ordered his mega-yacht and 6 months after Jim Cramer said "it was going higher," GoPro has just slashed Q4 revenue guidance by 15% (from $510.9mm to $435mm) and has addtionally decided to layoff 7% of the workforce. For now, GPRO is halted... but Ambarella is not (and is collapsing 6% after hours) leaving them down 65-80% since Cramer said "buy buy buy."
Camera-On-A-Stick Statement:
GoPro, Inc. today reported certain preliminary financial results for the fourth quarter and year ended December 31, 2015.
GoPro expects revenue to be approximately $435 million for the fourth quarter of 2015 and $1.6 billion for the calendar year. Fourth quarter revenue reflects lower than anticipated sales of its capture devices due to slower than expected sell through at retailers, particularly in the first half of the quarter. Fourth quarter revenue includes a $21 million reduction for price protection related charges resulting from the HERO4 Session repricing in December. Non-GAAP gross margin for the fourth quarter of 2015, excluding the impact of price protection and a charge of between $30 million and $35 million to cost of revenue for excess purchase order commitments, excess inventory, and obsolete tooling is anticipated to be between 44.5% and 45.5%. Non-GAAP gross margin for the fourth quarter of 2015 is anticipated to be between 34.5% and 35.5%. Non-GAAP operating expenses for the fourth quarter of 2015 are estimated to be between $150.0 million and $152.5 million. Cash, cash equivalents and marketable securities at December 31, 2015 totaled approximately $475 million.
...
Reallocation of Resources
Over the past two years, GoPro's headcount has grown by more than 50% annually, to more than 1,500 employees at the end of 2015. To better align resources to key growth initiatives, GoPro has implemented a reduction in its workforce of approximately 7 percent. The Company estimates it will incur approximately $5 million to $10 million of restructuring expenses in the first quarter of 2016, substantially all of which will be severance costs.
GPRO crashes 30% after hours...
One of GPRO's suppliers, Ambarella is crashing after-hours...
But for now GPRO is halted... though that will hardly help "mom-and pop"
(8 votes)
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Who in the hell follows this huckster???? watta putz
As I understand it, even he doesn't follow his own Advicertainment.
Maybe they can team up with Twitter (another useless idea), yea thats the ticket!
Bear Stearns is fine!
https://www.youtube.com/watch?v=V9EbPxTm5_s
my head trader, at a another bank, followed his advise on Bear
How many people actually buy this crap?
a camera on a stick or head by a small part of the public and only once until something better comes along.
set up for failure
Pfffffffffffffttttttttttttttt.. I trust Cramer. Afer all he did assure me that BSC (Bear Stearns) was healthy and could not go kablooey (that's CNBC talk for a stock going to ZERO).
You need to remember Crammer's roots. He is just the set-up guy for Goldman to take the other side of YOUR trade.
I guess Goldman Sachs is still his primary clearing guarantor.
and Crammer's their bitch
this is absurd...someone at ZH must be pumping their short position. No one will ever be able to compete with Polaroid...I mean Kodak...I mean GoPro!!
The fact that in 1960 the 1/2 life of a new camera was 5 years....and today, it's 4 months, is completely irrelevant.
BTFD!
Gartman does. If memory serves me The Gartman Letter and its operation is resident in Cramerica.
Cramer, move back to Israel mother fucker and worship your lunar cult god baal.
He's an Askenaz descendant of goy converts to Judaism, not an Hebrew, not semitic.
GoProlaroid
Maybe GoPro can buy What's App for 19 billion.
Wait ... Sorry, that was already done by Facebook.
lol
I'll bet you stayed up all night analyzing that dog... [/Gordon Gekko]
breaking - TheStreet.com headline:
"Will GoPro Be Hurt By Lowered Guidance??"
haaa, you can't make this shit up!
I would say they may flash to the red.
Also from the street "GoPro Is Getting Crushed Because It Didn’t Have a Merry Christmas -- Tech Roundup "
I guess I shouldn't have shown those Chinese cameras for 1/3 the cost on Ebay last week?
Same sensor, maybe better optics, 1/3rd the price. CNBC was talking about how little IP GoPro has, so they aren't really a takeover target until the stock gets really cheap.
GPRO hit 10.62. The horror, the horror.
Now at 11.
that means 7-8 in a couple weeks.
Perhaps they can hire the RadioShack CEO as a consultant?
Once again, GPRO is leading edge. That press statement is the model, the boilerplate for every other company to follow in GPRO's footsteps as the recession gets going. Just swap out the name and the specific numbers.
GPRO just unhalted, now trading around $11.
my sister was long AMBA in the 100's last summer, suggested she buy some puts at least... but no, it was all blue skies ahead...and Cramer at 6pm
Hopefully it didn't affect your sister too badly.
You tried.
what's that saying? boo-ya? well here's BOOYA back at you cramer. dork.
camera on a stick. Lol... "innovation"
Stupid iz as stupid duz.
and, it's gone.
thanks Cramer!
watch out for flying tire irons...
Gopro to GoNo!
Anyone take stock tips from clown Cramer deserves to lose every penny. GoNO!
is there an ETF available that runs an inverse-Cramer portfolio? perhaps even a -2x target?
.....safest place I can think of to put money (except perhaps an inverse-Gartman....)
Yes there is CLWN a double inverse to Cramer calls or for the real thrill seeker ASSCLWN a triple inverse
better to short the triple Cramer long KIKE, for the decay...
Why would any sane person spend $400 on a branded camera when they can buy a Chinese knockoff, identical in all respects, for $20 wholesale or $50 retail?
GoPro is a no-go, headed to zero.
You want to make money listen to Cramer BUT just do the opposite of what he tells you to do!!!
How on earth is Jim Cramer still on TV? The guy is been far more wrong and he has been right.
Its time to fire Jim Cramer and hire Peter Schiff. We need a dose of economic sanity!?
send a memo to Brian Roberts, crypto-Jew of the Century Hall of Fame along with his daddy
that would be great. But it would basically b him on there for an hour explaining how the other 23 hours of programming on CNBS are complete bullshit, which wouldn't fly
Any stains on the pavement yet?
I hope there will be a POV, GoPro, video showing the event.
Unfortunately they keep losing clients: https://www.youtube.com/watch?v=CCRZbnOVsRU
GoPro, GoFigure. Picture that.
Cramer is a sloth, why anyone would listen to him is beyond me.
They took a fuckin' pooper-scooper,mounted a camera on it,called it "cutting edge" technology,and fleeced the sheeple for a couple billion bucks..
lol. Welcome to the SiliCON potemkin village.
If you have an idea, we'll sell your shit! {Crawl Spaces}, are our specialty. Bitchez
Cramer and Gartman ON TVeee...that is the Keyeee.....
wait, what were U saying about, about what were you saying....
just came back from a Bthrm break....now did Gartman say Buy Oil, or was that yesterday's episode.....awww the microwave is beeping.....
Buy Camera on a Stick....yeh HERO...I'm a HERO there must be tons us out there....let's share our POV's of RAPIDS, SKYDIVES, MT Biking INTO Trees and off Clifffs....Black Diamond Skiing....there must be a couple of Hundred thousand of us out there...but but where are we all I see is the end or your boat, the earth from 2000 feet, that single track.....oooooo a treee...can I see some Blood ....naw camera's pointed the wrong way.
Oh Well BORED.
GOPRO the HI DEF With muffled Sound KODAK CAROUSEL SLIDE SHOW YOU PULL OUT WITH THE BOTTLE OF BOURBON.....
to BORE YOUR FRIENDS Nationally on YouTube/Vimeo/DA GOPRO CHANNEL .....WOW WOW
where are they now: SHARE THAT KODAK..........er... SHARE THAT GOPRO MOMENT WITH SOMEONE U LUV---OR WANT TO F^&K
http://40.media.tumblr.com/tumblr_m0woke1t3W1rnrtl0o1_r2_1280.jpg
I smell a Pets.com moment on the horizon