Why GoPro Stock Plummeted 20% in November
Shares of GoPro, Inc. (NASDAQ: GPRO) fell 20% in November, according to data provided by S&P Global Market Intelligence, after the company reported its third-quarter earnings at the beginning of the month. The quarter itself wasn't all that bad, but investors weren't happy with management's fourth-quarter outlook.
Image source: Getty Images.
GoPro's third quarter may not have seemed all that bad at first glance. Revenue was up 37% year over year to $330 million and gross margins increased to 40%. The company also improved its average selling prices (ASPs) by 22% and net income went back into positive territory, after a loss of $104 million a year ago.
Source: Fool.com
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