Can GoPro Stock Bounce Back After Last Week's 10% Drop?
GoPro's (NASDAQ: GPRO) return to a double-digit stock price didn't last long. Shares of the action-camera maker tumbled 10.3% last week, sliding after Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) introduced a new camera. Even though a few analysts and industry watchers would go on to point out that Google Clips is not technically an action camera, it was enough to at least temporarily derail one of the summer's more interesting turnaround stories.
It had been a summer to remember for GoPro investors before last week's stumble. The stock had moved higher for three consecutive months, soaring 35% along the way. In early September, the stock closed above $10 for the first time in more than seven months, and it would remain there until last week's slide. Assessing the challenge posed by Alphabet's latest hardware product will go a long way toward dictating GoPro's chance to resume its recent winning ways.
Image source: Google.
Source: Fool.com
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