It was the day before the FED and all was well. Not a rate hike was found stirring before the opening bell. Assets traded with nary a care, in hopes that Saint Yellen would stomp out the last bear. And I heard her exclaim as she flew into the sky, higher asset prices for all and for the S&P500 a new high.
This year has been very tumultuous for GPRO (GoPro) shares. In the first quarter we saw GPRO fall over 30% only to then rally back 50% in the second half. The real story of this year is the crash that has taken place during the end of the third quarter and into the 4th. Shares are off by 70% from their high. Arguably the reason for the fall is over concerns of the viability of GPRO’s business. Is GPRO a company or a product? Does GPRO have enough in its pipeline to sustain EPS growth for at least 3-5 years out? These is the question analysts have been asking. However, when looking at the fundamentals and technicals I think GPRO offers a good risk/reward entry here for the long-term.
Today was a 2% up day for the market clothed in a .5% gain. The heavily shorted names led the way with some energy sector names rallying another 10%+ on top of yesterdays strong gains.
A stock like $CRR is soaring, but still has a long way to go to even think about recovering the losses from record highs.