GoPro Kills the Karma and Exits the Drone Business

GoPro Kills the Karma and Exits the Drone Business

Nick Woodman, the CEO of the action camera manufacturer stated that the company would consider a sale or partnership with another company, but the firm's intention would be to remain independent. Zacks Investment Research raised GoPro from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Wednesday, October 4th.

Despite these latest failures, Woodman remains upbeat about GoPro's future.

In addition to grounding their drones, GoPro also announced that they would be cutting their current 1,254 strong workforce to less than 1,000. GoPro shares are also down by 75 percent from their $24-a-share price when the company went public in June 2014.

Here's how January looks for Assassin's Creed Origins
This expansion will include a new area and story, alongside a number of other updates set to come out in January. This is a premium DLC that sees Bayek exploring a new region and dealing with the Romans more directly.

GoPro's HERO5 camera line-up significantly underperformed during the holiday quarter, and the company ended up slashing $100 off the price to generate sales. Wittine points out a quote that stands out from his conversations is a supply chain contact looking for a year of more challenges lying ahead for GoPro.

The move comes as GoPro looks to return to profitably from its struggling business, although the company's CEO stated earlier on Monday that the company would be interested in a potential merger or acquisition of the firm. Analysts with GBH Insights estimate that tech firms could repatriate as much as $400 billion in cash this year, so any USA firm with a large pile of cash stashed overseas would be able to buy GoPro.

GoPro released its preliminary fourth quarter 2017 report, which that the company is in tough shape: They are firing hundreds of employees and will also exit the drone market. Wall Street analysts had earlier forecast GoPro to report sales of $472 million for the quarter. After a chat with supply chain contacts on Friday, looking for further "color" on what to expect for the tech player's fourth quarter turnout, the picture is not one that can keep even the former bull's positive sentiment anymore- at least not "with a straight face". He said this morning that short-sellers were slashing their exposure to the company before the holiday season. Those things - and the GoPro name - helped put Karma into second place in its price band in 2017 behind category leader DJI. As a result, the company announced that they would be stopping the manufacturing and sale of the Karma drone.

Related Articles

  • Sea of Thieves Closed Beta Begins Later This Month

    Sea of Thieves Closed Beta Begins Later This Month

    As many of you Xbox One users already know, Microsoft releases new hardware with a new and cool design. A month after the reveal of the release date , Sea of Thieves is on its way to its Closed Beta.

    "Acer Swift 7" Is Also The Most Expensive One At CES 2018

    Acer Nitro 5 (2018 ) The Windows 10 laptop by Acer has AMD Radeon RX560 graphics and AMD Ryzen mobile processors as its highlight. Its fanless design is made for those who will use it in shared spaces, such as students, and it comes with an 11.6-inch display.
    CBP stepped up border searches of electronic devices previous year

    CBP stepped up border searches of electronic devices previous year

    The number is approximately 0.007% of arriving global travelers processed by CBP officers (more than 397 million), said the CBP. The directive comes in time with the reported rise in electronic device inspection at United States airports a year ago .
  • Bad memory makes Dustin Johnson a golf king

    Bad memory makes Dustin Johnson a golf king

    Johnson joined Stuart Appleby (three times) and Geoff Ogilvy (twice) as the only multiple winners at Kapalua. There's no doubt Johnson hit a monster shot off the tee, but you also can't deny a few lucky bounces there.
    Teacher questioning superintendent's pay removed from board meeting in handcuffs

    Teacher questioning superintendent's pay removed from board meeting in handcuffs

    According to Ike Funderburk, Abbeville's city attorney and prosecutor, no charges will be filed against Hargrave. According to KATC , at least one school board member ruled her "out of order" at one point during the discussion.
    Egypt denies report that it accepts Trump's Jerusalem recognition

    Egypt denies report that it accepts Trump's Jerusalem recognition

    Talk shows are highly influential in Egypt. "I have no problem saying all of the things you have heard in that call in public". One of the phone calls was also to well-known Egyptian actor and singer, Yousra, who heeded his advice.
  • Hollywood's men wear black to 75th Golden Globe Awards red carpet

    Hollywood's men wear black to 75th Golden Globe Awards red carpet

    Meyers even urged her to run for president, which was met with the biggest round of applause of the night so far. Meyers took a swipe at Kevin Spacey , who was accused by several actors of sexual assault .
    Justin Timberlake gives Jessica Biel piggyback ride to Globes after-party

    Justin Timberlake gives Jessica Biel piggyback ride to Globes after-party

    This is because of his adopted daughter Dylan Farrow's claim of sexual abuse against him in 1992, when she was seven. It's very risky to factor in things you don't know anything about.
    Iran protests United Nations emergency meeting

    Iran protests United Nations emergency meeting

    Russian Federation and China are among the countries that are expected to oppose Security Council action on Iran, diplomats said. Now, the Trump administration seeks to slash Near East Regional Democracy Fund's budget in half, to $15 million .
  • Sony unveils selfie-centric Xperia XA2, XA2 Ultra, and L2 smartphones

    Sony unveils selfie-centric Xperia XA2, XA2 Ultra, and L2 smartphones

    The Sony Xperia XA2 Ultra boasts a familiar Sony design, which isn't the most exciting out there, but it is at least functional. Sony pulled no punches in the battery department and fitted a 3,300mAh power pack in the L2, up from 2,620mAh on the L1.
    3 injured after Trump Tower in midtown Manhattan caught fire

    3 injured after Trump Tower in midtown Manhattan caught fire

    Others expressed their concern for the safety of Trump and those who were in the tower at the time of the incident. In the meantime, social media users are sharing their thoughts about Trump Tower's rooftop inferno.
    Jags Player Accuses Bills' Richie Incognito of Using Racial Slurs

    Jags Player Accuses Bills' Richie Incognito of Using Racial Slurs

    The NFL has come out and said it will investigate the accusations Ngakoue has made against Incognito, per ESPN's Adam Schefter . Incognito has not officially responded to the allegations relating to racial slurs as now.