High Inventories Sinks GoPro More Than 6%

GoPro Inc GPRO shares are trading lower by $0.95 (6.5 percent) at $13.03 in Monday's session. Investors are concerned over comments by Pacific Crest that GoPro inventories are at an all-time high.

Just as the issue was making an attempt to test the major resistance in the $14 handle, it's now struggling to remain in the $13 handle. After a lower open, it managed a $0.09 bounce to $13.80 before continuing its move lower.

So far, it has reached $13.01 and is attempting to rebound. That low coincides with a trio of lows from April 18 ($13.04), April 19 ($12.82) and April 20 ($12.90).