GoPro is in the 9’s today after hitting an all- time low in the 8’s just yesterday. Here is a chart:
If you look closely…..
The trickiest and nastiest part of the GoPro riches to rags stock story was in August 2015 when analysts and traders were bullish on Christmas. I remember buying some stock in the $64 area only to get crushed and have to retreat at $59 ish.
It turns out that a few days after almost breaking out and looking perfect, the stock went on a relentless retreat that might not be over yet.
I was with a CEO friend yesterday who showed me his fresh buy of a good size of GoPro (the only stock in his Robinhood account that he bought yesterday in the 8’s). He felt that the sentiment was overdone and the brand was worth much more than the price of the stock. He felt there were big takeover type buyers. He does not look at technicals or care.
It’s not my style of buy but I will keep an eye while he owns it. He’s made too many good calls to ignore completely.