GoPro was another one of those over-hyped high flying stocks pushed on the muppets by the Wall Street IPO machine in July, 2014. It went public at $24 per share and proceeded to jump 103% in the first four trading days. It peaked at $87 per share by October, up 362% in three months. This morning it is selling for $16.80 per share as the muppets have been slaughtered again. No worries. The Wall Street killing machine reaped millions in fees and profits, before dumping it on the ignorant masses.
Actual picture of a GoPro investor after the 80% plunge in price.
The devil lives on Wall Street
Camera-On-A-Stick Goes Full Kodak – Crashes 16% To Record Lows
Submitted by Tyler Durden on 12/14/2015 11:46 -0500
Camera-on-a-stick is down 83% from its October 2014 (the end of QE3) highs (and down 75% since Jim Cramer said it was “bargain” in July). GoPro is down 33% from its IPO price… and down 16% today as more analysts realize now is the time to downgrade before it goes full Kodak.
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a gadget…yikes