GoPro Stocks Reach Record Low
GoPro, the popular action camera company, has been having a tough go of it on the stock market right now. Shares fell 2 percent yesterday to hit the company's lowest level so far.
This has been a steady trend for the company, after GoPro's stock lost more than half its value this year, according to CNN Money.
The writing has been on the wall for a bit that the company is in trouble, however. It announced that it plans to lay off 15 percent of its staff and will shut down its entertainment unit, which showcased videos shot on GoPro cameras, competing against other action-sports companies, like Red Bull's Red Bull TV.
Also, the company was forced to recall its Karma drone because it as losing power mid-flight.
"I was maybe a minute into flying when I started recording," one GoPro Karma user told PetaPixel. "It was hovering and just crashed. Battery was fully charged and everything."
CNN Money also said that investors were skeptical that the Karma wouldn't perform, and its technological woes only hurt the company's sales more.