Longbow Research May Have Just Lost Faith in GoPro (NASDAQ:GPRO)

GoPro CEO says he'd consider a sale, but is still planning to be independent

GoPro CEO says he'd consider a sale, but is still planning to be independent

The company will also exit the drone business and stop manufacturing its Karma line of aerial drones.

GoPro's fortunes have become so dire that it is even open to the idea of getting sold to another company. GoPro said that new regulations being considered in the USA and Europe would reduce the overall market for recreational drones.

"GoPro is committed to turning our business around in 2018", Woodman said in a statement. After trading resumed, the shares fell further, and the stock was down 30 percent by 10AM. The company will continue to operate independently if it ends up being acquired by another company, but it isn't clear as to exactly how much GoPro wants for its sale as of yet.

Price protection is the money that GoPro has to refund to retailers who purchase cameras at a higher price, whenever the company lowers the suggested retail price, as it did for the Hero5 camera, launched in 2016.

Woodman's 2014 pay totaled $287.2 million, according to the Bloomberg index, which values equity awards as of each company's fiscal year-end. Earlier in the day, the outlet reported that CEO Nick Woodman would "look at" opportunities to "unite with a bigger parent company".

With one withering comment, Natalie Portman made a big statement
America Ferrera brought a very special date to the 2018 Golden Globe Awards: her barely-there baby bump. Portman also shared a video explaining why she's wearing black .

GoPro projected fourth-quarter sales of $340 million, well below the $474 million expected by analysts.

A source told AFP that GoPro hired JPMorgan Chase to advise it on strategic options, including a possible sale.

GoPro also had to slash prices on its cameras to drive more sales, as it faced weak demand for its products during the holiday season.

For now, the company seems to be working hard on its action cameras, and we can expect to see some more price cuts on the Hero series. It's still early, but you can bet we'll start seeing analysts weigh in on companies that might buy GoPro by issuing their own lists of suggestions. Longbow Research raised shares of GoPro from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.60 to $13.00 in a research note on Wednesday, October 18th.

When GoPro launched the Karma, its first drone designed for the company's cameras, in September 2016, it was already facing an uphill battle after production delays and a market dominated by drone maker DJI.

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