GoPro Inc (NASDAQ:GPRO) stock steadily declined on Sept. 7 during the Apple Inc. (NASDAQ:AAPL) as CEO Tim Cook showed off the iPhone 7’s DSLR-killer camera.
The rout in GPRO shares continued for the rest of the week, losing nearly 12% through Friday’s close.
But as we get closer to the 19th, GoPro stock is beginning to perk up, and its teaser tweet is beginning to take on more significance:
Karma is close. Be there. 9.19.16. #GoProKarma pic.twitter.com/Gp6Co7LIZM
— GoPro (@GoPro) September 8, 2016
GPRO stock is making a small comeback on Monday, up some 3% as of this writing. Driving the move are expectations that the Hero 5 will be seen side-by-side with the Karma drone on Sept. 19, with Variety remarking that the company “is expected to officially unveil its next-generation consumer camera, dubbed the Hero 5, in the coming weeks.”
The Hero 5 would be GoPro’s first flagship camera since 2014, and alleged images of the camera have appeared online. Konrad Iturbe — who blogs about GoPro developments, among other things — speculates that Hero 5 will be waterproof and feature an interchangeable battery:
HERO5 Battery and camera side (with model name). #GoProHERO5 pic.twitter.com/XXRJVLh9vz
— Konrad Iturbe (@konrad_it) September 11, 2016
While nothing official has been confirmed, the increase in positive sentiment around the double-whammy of the Karma drone and Hero 5 was enough for GPRO shares to bounce off of support around $12.97. Rejecting its down move, GoPro stock is now making a bid to break through its 50-day moving average.
Whether the teasers showcase something groundbreaking or just an overblown marketing stunt remain to be seen, but Sept. 19 should be a day GPRO bears and bulls watch eagerly.
As of this writing, John Kilhefner did not hold a position in any of the aforementioned securities.
