GoPro Inc (NASDAQ: GPRO) is having an incredible day in the market today. While my views toward the company weren’t the greatest about a year ago, a lot has changed, and I have to say, the company is becoming more and more impressive with every passing quarter. Today, we’ll talk about why my opinion is shifting to become a very bullish one. Before we get into that, I’d like to extend a thank you to our partners at Trade Ideas for being the first to alert us to today’s gains. Currently (10:40), GPRO is trading at $11:82 per share after a gain of $0.64 per share or 5.72% thus far today.
Why GPRO Is Becoming An Exceptional Investment Option
If you’ve read my past articles about GoPro, you know that I have always loved their products. In fact, I have one of my own that I use to film as I kayak some of the most beautiful waters in the United States; and you know what… I couldn’t think of a better option. However, my previous concerns with regard to GPRO hasn’t had anything to do with their products, it was more the marketing surrounding those products.
Let’s face it, the product was great, but sales simply weren’t meeting the mark. Well, that is until recently. Throughout the year 2017, GPRO has been hitting the nail on the head with regard to sales, bringing all of the pieces together. Now the company has a strong sales strategy, strong product, and great management… what’s not to love?
On top of the fact that GPRO has finally gotten sales under control, the company has a big catalyst coming just days from today. In fact, on September 28th, the company will be releasing a product announcement. Of course, any information with regard to coming products will likely lead to positive movements in the market. However, this is not the only catalyst on the horizons.
On top of the product announcement, GoPro will be releasing its earnings on the first of November. This is likely to be a massive positive catalyst as the company has already pre-announced relatively positive results. In fact, it is expected that this will be the company’s first ever profitable earnings report, and when a company reports profit for the first time, you can expect for the stock to fly. Just look at what happened when Amazon reported its first profit… allbeit a minimal one! So, if things go as planned, we’re going to see two positive catalysts very soon, the first being on September 28th and the second being on November 1st.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GPRO. In particular, we’re interested in following not only the product news release, but also the earnings release that’s coming soon. Nonetheless, we’ll follow the story closely and bring the news to you as it breaks!
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