GoPro Continues To Rise, Executives See A Big Future At Wedbush Conference
GoPro Inc (NASDAQ: GPRO) continues to soar. The stock spiked to $18.72, up 10.83 percent on Thursday morning after the company announced latest Apple Watch app features for iOS and its new drone called Karma to the public for the very first time. GoPro's strong gains were a relief for investors after recent declines to all-time lows for GoPro,
Executives are also seeing a significant future for GoPro at Wedbush Conference.
The Bottom Line
At the conference, GoPro executives touched on some main points toward FAA's guidelines. The executives stressed a desire for a positive experience for the general public, which in return, would further expand the company's market opportunity. What the industry is doing at the moment is really focusing on Washington and the FAA. Safety, privacy and technology have been primary issues that GoPro has raised to the FAA.
Over the last few years, most users have heard of GoPro through the social media space such as video platforms like YouTube. This has created outstanding demand for the company's product. The company has been leveraging this interest by the creators by helping them to monetize their content through ad based programs.
GoPro's current product positioning is focused on expanding its market. The company has been competitive by being able to drive the cost down of its GoPro cameras to a price of $199. This price point has been lowered in a way that many of its direct competitors can't.
At the Wedbush Conference, GoPro executives spoke of how its engineering team is planning more cost cost effective products which will be advanced in technology and design.
GoPro shares have fallen more than 47 percent in the last three months and 71 percent in the past year. The stock traded recently at $19.11, up 13 percent on the day.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.