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GoPro CEO Nick Woodman at an event last September, unveiling a new version of its Hero wearable action camera. Photo by Bloomberg.
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Media/Telecom

GoPro’s Stock Rests on Potential Sale

By  |  April 12, 2018 9:48 AM PDT
Photo: GoPro CEO Nick Woodman at an event last September, unveiling a new version of its Hero wearable action camera. Photo by Bloomberg.

GoPro’s stock has hurtled downhill this year, not unlike one of the thrill-seeking mountain bikers who put on its wearable cameras before taking the plunge. Shares are down 36% in 2018, cutting its market capitalization to roughly $700 million. GoPro investors now have to hope the company will get acquired to see any lift in the price.

In a sale, GoPro could conceivably fetch $1 billion, based on the price that Hewlett Packard paid for Palm—another struggling electronics maker—in 2010. A sale might happen. CEO Nick Woodman has said publicly that he is open to a deal. Chinese electronics maker Xiaomi has weighed whether to make an offer but doesn’t want to overpay, according to a person familiar with the matter. Chinese drone maker DJI was pitched by bankers on GoPro several months ago but didn’t pursue a deal because it saw no value in the company, said a person familiar with the matter. DJI declined to comment.

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