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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From the looks of the trailer, Hollywood is about to trash Cramer. Couldn't happen to a nicer guy.
http://www.marketwatch.com/story/money-monster-trailer-with-george-cloon...
Can you say, Cramer missing 4..3..
When you can buy very capable Chinese GoPro clones with a ton of accessories for $40 to $75 on Amazon, it's no wonder they're tanking.
I guess Cramer doesn't "analyze" deep enough to know that.
You can find better deals on eBay. Amazon charges sales tax where applicable. Ebay doesn't mandate state sales taxes on sellers.
As for Cramer, I don't think he would honestly state his true opinion even if he didn't believe GoPro stock price would do well. The stock market is mainly a venue where a small group benefit at the expense of the remaining larger group.
I thought the headline read "Cramer on a Stick".
I got all giddy.
Damn
Thats where I was at...lol...I'd like to see him doing a selfie of himself in some sort of attempt at feigned shock.
He's prolly short tho, griinin like a possum eating shit ;-)
Cramer reminds me of that Southpark episode, about gold recyclers. He should shoot himself...
In the 70's, 80's, and 90's, there were one hit wonder bands...Since the turn of the century there are now one hit wonder stocks...
Standard Disclaimer: Bubblicious holds the Guinness Book of World Record for the most bubble gum bubbles blown at one time. I don't think there is a category for the number of bubbles blown by the Federal Reserve.
2 things
Why am i getting popups on this site taking me to the app store & i hope im alive when they arrest this perfectly manicured scrotal sack
He's right, don't worry. Just be aware that his charts are upside down, that's all!
Investors, dont forget to strap on the GoPro before you attempt to fly off the 30th floor. Be a hero!
Oooo, I like it. They should issue a special Wall Street Edition with sidewalk-impact resistant case.
You mean people are figuring out that they don't need a GoPro camera? I'll be damn.
GoPro to GoBroke.
Some Jim Cramer followers may soon have a stroke.
Me thinks Booyaa boy Cramer is out of business once this movie comes out.
http://www.businessinsider.com/money-monster-movie-trailer-2016-1
Well at least the CEO had Jimmy pump the PPS so he could buy that yacht he always dreamed of...