Cnn news november 13 2015
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If there's a lot of euphoria in a name, you've got to be cautious about it," said Smith. No matter what happens to GoPro, its incredible decline should serve as a lesson to investors who get overly excited about hot young brands. "This company continues to grow profits and at the end of the day it will be bought by a Google or Apple," wrote StockTwits user WingsJr. There's also the chance a cash-rich tech company will swoop in to buy GoPro on sale. The company is also expanding into the drone market, though that's a risky endeavor. GoPro is hoping to turn things around by trying to make money off its incredible content of extreme sports activities. Related: Black Friday and beyond: The ultimate holiday shopping guide
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"This brand likely has fallen off Santa's wish list this season," Murphy said. GoPro's business with key accounts such as Best Buy have reversed from up 62% in the second quarter to down 26% in the third quarter. While she does "believe in the brand," Murphy pointed to red flags indicating GoPro is suffering from competition - including from new devices that are cannibalizing sales of older ones. Piper Jaffray analyst Erinn Murphy recently downgraded GoPro to a rare "underperform" rating amid concerns about a lack of new products this holiday season. But that doesn't always translate to continued growth. The camera maker has an impressive 3.5 million followers on YouTube and users swear by the product. That's a significant deceleration," said Smith. Sales surged 72% in the second quarter but just 43% last quarter and GoPro is now warning sales will actually decline during the critical holiday season. The problem is that GoPro's euphoric introduction to Wall Street set the bar very high on CEO Nick Woodman to continue the company's rapid growth. Just since the end of September GoPro shares have lost a remarkable 64% of their value.