GoPro Inc. (NASDAQ:GPRO)’s impressive run in the market looks to have come to a halt after JPMorgan Chase & Co. (NYSE:JPM) downgraded it to ‘Neutral.’ GoPro’s stock is already down by 5.48% in intraday trading session with CNBC’s Jon Fortt maintaining that the next catalyst for the stock should be expected sometime in January.
GoPro Inc. (NASDAQ:GPRO) is banking on the frenzy that is common with the holiday season to collect a sizeable amount of revenue in terms of improved sales from its array of products. Unique products by GoPro Inc. (NASDAQ:GPRO) highlights its drive to identify various consumer needs with a view of satisfying them.
“[…] The next catalyst that I can see that is clear is in January when we know how this thing actually sold over the holiday season because that is prime time for them. You’ve got to expect them to be somehow volatile between now and then, especially given how they have run up […],” said Mr. Fortt.
GoPro Inc. (NASDAQ:GPRO) could bounce back, should the company introduce a new set of products, specifically geared for the holiday season. The company also remains well positioned on the market at the moment, especially when compared to other stocks that conducted their Initial Public Offers (IPO) this year.
CNBC’s Carl Quintanilla pointed out that 75% of the companies in the U.S that went public this year have not yet enjoyed success in terms of profits, raising concerns as to the direction they were headed to. Getting a product into the market for the holiday season remains a key play for GoPro Inc. (NASDAQ:GPRO) if it is to bolster its profits in the second half of the year.
Increased demand for GoPro Inc. (NASDAQ:GPRO)’s legacy cameras in the holiday season could strategically position the company’s product heading into next year. GoPro’s success in the market in the recent past has mostly been driven by exquisite products such as ‘Fetch’, a camera mount for pets, as well as ‘Grenade Grip’ that has received positive reviews from Snowboarders.