Topic: How To Invest

Spinoffs, Takeovers & Special Situations Hotline – Friday, March 16, 2018

Article Excerpt

GOPRO INC., $5.54, symbol GPRO on Nasdaq, is the largest manufacturer of action digital cameras in the U.S. GoPro went public in the summer of 2014 at $24 a share. The company has yet to attract purchase offers or major investor after hiring J.P. Morgan Chase & Co. (symbol JPM on New York) back in late 2017 to explore the possibility of a sale. That news was confirmed by GoPro CEO and founder Nick Woodman on January 8, 2018, and lifted the stock. However, shares again resumed their fall and have now dropped from $12 a share in September to below $6 today. That decline reflects the company’s falling revenue. In the quarter ended December 31, 2017, GoPro sales fell 38.1%, to $334.8 million from $540.6 million a year earlier. It sold 4.3 million cameras in 2017, 9.6% lower than in 2016. The company lost $55.8 million, or $0.41 a share, in the quarter. If you exclude income tax adjustments and other costs, GoPro…

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