Well… GoPro is definitely going through some tough times these days. Investors had high expectations during the IPO in June 2014. Within 4 months share price went up to $96 which was a juicy 400% gain!!
Since then the situation has changed significantly. GoPro sales keeps dropping and the recent recall of the Karma Drone pushed the price down to $9.95. it is trading at $10.17 right now.
At this stage we believe GoPro share is extremely oversold and a spike is almost imminent. At this stage our initial target price is $11.25 (10% upside). If it can break the resistance at this level, it can go up to $12.20.
Once our target is met, we will update our analysis.
This cannot be considered an investment advice!!