GoPro is falling after rolling out its 360 camera without its best features
Thomson Reuters
- GoPro announced it won't offer its best features in its new 360-degree Fusion camera until early 2018.
- The company's shares slid after the news.
- To watch GoPro's stock price move, click here.
GoPro's stock is sliding, down 2.39% at $8.18, after the camera company announced that it would roll out its new 360-degree Fusion camera without some of its best features.
Its Overcapture software allows users to pan and zoom on footage captured in the 360 video so that "you always get your shot," the company said on its website. However, this feature, unavailable in other editing software at the moment, will not be released until early 2018, the company stated.
This leaves early buyers locked out of the new features. Oppenheimer analyst Andrew Uerkwitz earlier lauded the company as "highly innovative" for its hardware and software.
Google recently announced its new "Clips" camera, which is a play off of GoPro's small action cameras. Despite the competition, Wall Street analysts maintain that GoPro still has a lot going for it.
Last month, JPMorgan analyst Paul Coster said that Google's camera "validates part of GoPro's market" but also "appears to be going in a different direction," adding that the camera is not wearable, or meant for outdoor action, which is the mainstay of GoPro's niche appeal.
GoPro shares are down 6.62% for the year.
To read why competition with Google might be a good thing for GoPro, click here.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas