Sunday, February 7, 2016

Go Pro....From Hero to Goat in one year.....

Go Pro....Last years darling........This years Goat.

Sales are down.  Stock is down.  Employees are laid off.  Just another success story to marvel at.

After posting a huge loss last quarter, the company fired its chief financial officer and slashed its product lineup to just three different cameras.

Shares have now fallen 89% from their high in September 2014,

GoPro said Wednesday that it had lost $34.5 million last quarter, after sales slowed dramatically towards the end of the year. The company had to take a writedown on $57 million worth of excess GoPros that stores had ordered, and unwanted GoPros 

Sales fell by 31% over the past year.

CEO Nicholas Woodman said he knows how to solve the company's woes.  (OH GOOD....)

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