GoPro (NASDAQ:GPRO) has made a terrific comeback on the stock market in recent months thanks to renewed demand for its products. The action-camera maker was struggling coming into 2017 as a flawed product strategy and the botched launch of the Karma drone dented sales.
The company’s distributors were left with excess inventory back in 2015, and the effects of poor inventory management were seen last year as well. But GoPro has now got its act together. It moved just over 1 million cameras in the last-reported quarter, up significantly from the 759,000 units moved in the prior-year period.
The company’s refreshed product lineup going into the holiday season indicates that it could sustain its momentum. However, there is a potential headwind that could derail GoPro’s rally — cheap Chinese competition.
GoPro is stepping on the gas with refreshed products
GoPro recently launched its new flagship action camera