🔴 GoPro is trading 5% down today after revenue fell 31% year over year

GoPro is trading 5% down now at $0.59 after investors continued reacting to its August 10 earnings report.

• Revenue fell 31% year over year to $105 million, camera sales dropped 38%, and the company reported a $51 million quarterly loss.
• The board’s potential-sale process is reportedly in later stages, but liquidity remains strained, with $27.3 million in cash and substantial doubt about continued operations.
• Morgan Stanley cut its price target to $0.50 while maintaining an Underweight rating.