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GoPro (GPRO 5.04%) is the global leader in action camera technology. It listed on the public markets in 2014 at $24.00 per share, promptly rocketed to $93.85, and then spent the next six years steadily declining before finding a bottom at $2.29 per share in 2020.
But the company has been on a mission to transform its business model by leveraging new sales channels and unlocking new revenue streams. Those moves have successfully driven a modest recovery in GoPro stock, and here’s why there could be significant long-term rewards for investors who buy it now and hold.
GoPro is a hardware company at its core – it’s by far the most innovative action camera maker in the industry. Its latest HERO10 Black release can shoot video in 5.3K ultra-high-definition with state-of-the-art stabilization technology. And priced at $499, it’s 85% cheaper than what the company says is the next-best product, which sells for $3,500.