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Shares of GoPro Inc (NASDAQ: GPRO) tumbled more than 4 percent Tuesday on concern that its yet-to-be-released drone, Karma, may not stack up compared to the competition.
According to Recode, China-based DJI released a new drone Tuesday that is foldable, lightweight and can be operated with just a smartphone. DJI also unveiled artificial intelligent-enhanced features (such as ability to read hand signals to operate) that make its drone, called Mavic, a "competitive option in an expanding hobby drone market."
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For starters, Mavic can be folded into roughly the size of a water bottle and can be stored in a backpack without a case. By comparison, GoPro's Karma needs a separate carrier.
Recode added the "coolest" feature of the Mavic is its ability to follow a user without holding a controller. Granted, this feature is already available in DJI's Phantom 4, but it's now "even more fine tuned and feels oddly like having a friendly pet by your side."
And then there's the fact that the Mavic is "smaller, quieter and more nimble" than its Phantom 4.
Recode went on to say something that should be of concern for GoPro investors: "The drone talks to your phone through an encrypted connection and can broadcast live video to Facebook, Periscope or YouTube with the DJI app, signaling DJI wants to cozy up to extreme sports communities that like to spread around their adventuring videos.
Shares traded recently at $16.14, down 4.6 percent.
Several Twitter users appear to agree with Recode's assessment.
Looks like @DJIGlobal #mavic has caught the @GoPro #karma #drone with a left hook knockout blow, looks good to us https://t.co/JzwRnZ1NCK
— UAV_Monkey (@UAV_Monkey) September 27, 2016
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With obstacle avoidance built in to new #DJI #Mavic Pro Folding Drone, this kills the GoPro #Karma. https://t.co/u1OTnf3DFq pic.twitter.com/MqtGF6YeFy
— CheesyCam (@cheesycam) September 27, 2016
Oh my, look whats happened to GoPros stock price since the #DJI #Mavic launch! https://t.co/dj4pFZyMzD pic.twitter.com/bP3D3Ahyxo
— fireFLYai (@fireFLY_AI) September 27, 2016
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.