GoPro explores sale after falling from $11 billion giant to $187 million company
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In a nutshell: GoPro, a company so renowned for its action cameras that its name became a verb (GoPro-ing), is in trouble. The firm has lost a massive 98% of its value over the last decade and is now considering a sale.
According to Reuters, GoPro said it will review a range of strategic options that could include selling the company or merging with another business. The announcement sent shares up more than 27% in after-hours trading, though that rally says more about investor desperation than a sudden return to the glory days.
At the time of writing, GoPro shares are trading at around $1.10, giving the company a market cap of $187 million. That represents a remarkable collapse for a firm once valued at around $11 billion. But that was back when...
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