GoPro Inc (NASDAQ:GPRO) stock was down Friday on reports that it is having trouble finding a buyer.
According to a recent report, GoPro Inc is having trouble finding a buyer after hiring JPMorgan last year to help with the effort. However, two sources close to the matter claim that no serious offers are being made for the company.
One of these sources says that a few people have come by to kick the tires, but that GoPro Inc CEO Nick Woodman is a “complciated guy.” The other source claims that “no one wants to touch” the company.
GoPro Inc refused to comment when asked by the New York Post about the trouble making a sale. The camera company has been struggling lately with its camera sales declining almost 9% in 2017.
Woodman has been dropping hints about a possible sale over the last couple of months. He recently told Bloomberg that he is seeking to drive growth at GoPro Inc. He said the company could do this “more easily and more quickly with a partner,” and that it would “jump” at the opportunity.
GoPro Inc last reported earnings on Feb. 1, 2018. It’s earnings report for the fourth quarter of the year included losses per share of 30 cents on revenue of $334 million. These were both well below Wall Street’s losses per share and revenue estimates of 11 cents and $470 million.
GPRO stock was down 4% as of noon Friday and is down 22% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
