GoPro ($GPRO) is in big trouble.
The company is selling a lot less of their “action cameras” than they should be. Financial analysts are downgrading their expectations and their faith in the company’s stock. To top it all off, the company was late to market with their own drone, which is something dozens of other companies were quick to capitalize on.
To help with their earnings, GoPro finally did release their drone late last month. Initial sales of GoPro’s Karma drone were in the low five figures, which, for a $800 drone, is nothing to scoff at.
Unfortunately, the company can’t celebrate just yet. That’s because their drones are falling from the sky, and consumers are pissed.
GoPro instituted a recall for their Karmas since videos of their malfunctioning drones started popping up on the internet. Yet all this bad press is cutting into the company’s already-dwindling stock price, especially since their recent earnings call saw their revenue slide for yet another quarter. GoPro really needs to sell more of their products this holiday season to make a comeback, but would you buy this drone? I don’t think so.
Share this video with your friends, and run inside before you get hit in the face with a drone.