GoPro Restructures Its Business -- Time to Buy the Stock?
In light of the COVID-19 global pandemic, GoPro (NASDAQ: GPRO) is withdrawing its financial guidance, cutting its workforce, and shifting its business model in a desperate pivot toward profitability. The company's cameras, known for capturing outdoor adventures, are collecting dust as people are stuck indoors all over the world.
GoPro stock is down over 60% from its 52-week high and 35% year to date. Given these major changes to the business, should you buy GoPro stock?
The GoPro Max. Image source: GoPro.
Source Fool.com