Just after releasing not-so-good third quarter earnings sometimes last week, GoPro followed with another bomb: their newest Karma drones supposedly malfunctioned and were losing power during flight.
For matters to become worse, some wisecrack at GoPro’s PR department has thought it was a good idea to dump this business-breaking info right at Election Day. During which, the camera company announced it will pull approx. 2500 Karma drones out of service and customers will receive full refund.
Currently, GoPro stands at $10.86 per share in a plummet seeing 5.5% decrease on their stocks.
Nick Woodman, GoPro’s renowned CEO echoed the news and said the company will investigate further into the issue. So far, GoPro customers remain neutral on the subject.
Problem is, according to the company, a consecutive struck of bad luck. Back in Nov. 4, GoPro had to reduce 2016’s expected revenue – given the fact their stocks plummeted by nearly 40% in the third quarter.
Furthermore, GoPro’s projected best-seller Hero5 Black camera, which was supposed to outsell every other product thus far, didn’t leave up to expectations. If this trend continues as it started, CEO Nick Woodman is in for a trouble.
Good news is, the issue resides on the Karma drone, and not their current flagship product Hero5 Black. If it were the other way around, it would probably be an utter disaster.
What do you think? Will GoPro arise from the ashes like a Phoenix? Share some love below.
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