GoPro (GPRO) Shares Down On Earnings Drop

GoPro Inc. said on Thursday it swung to a deep loss in the first quarter, spotlighting the uphill battle that the action-camera maker faces in broadening its customer base, though sales beat market expectations. The company hasn’t introduced a new product since last summer’s Hero 4 Sessions. Gopro announced Thursday that it was delaying the launch of its much-anticipated Karma drone for later in the year. On the hourly chart, the stock (currently at $10.70) continues to plunge without any hesitation. ADX is rising to 49.26, suggesting a drastic downtrend.

Trade suggestion

Sell at 10.70, SL at 10.92, TP at 10.43

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