$GPRO – not much go anymore

Nick Woodman, the founder and CEO of GoPro Inc., is obviously a fun guy.  He got the idea for the action-camera company on a surfing trip to Australia. He’s reportedly an adrenaline junkie in every which way but loose.  Since GoPro was founded in 2002 and went public last year, he’s racked up an estimated $1.3 billion net worth.  He’s generous privately and a philanthropist publicly. CNBC says he’s ordered a $50-millon yacht that can have a crew of 13.  Practically every photo shows him either smiling from wall to wall or laughing uproariously.

But…

But GPRO, his company’s stock, is down 80% from its high and down 41% from its IPO close.  (It’s up 65 percent on my latest long-term short signal.)  The stock had a great run but that obviously is a over.  It is a niche gadget company that has likely saturated its customer demand.  It may base down here at 18 or so but there’s no real support underneath it and the downtrend continues.

So, as the pleasant Mr. Woodman sails the seven seas in his new yacht, the rest of us can avoid his stock which may end up no bigger than a dinghy.

(right click on the chart to view a larger image)

Gpro2015-12-24_0601

 

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