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GoPro's Stock Might Rebound

Market jitters and a downgrade on shares of GoPro (NASDAQ:GPRO) helped push shares down. GoPro is now down nearly 70 percent from its high and investors valued the company at below one times its price-earnings growth (at 0.78). At these levels, it is worth asking if GoPro is a value growth play.

GoPro's $100 price cut for the Hero4 Session is clearly a negative signal for investors. The company likely expects weak demand and higher competition for its core product. Existing GoPro customers are unlikely to upgrade for multiple reasons. The device they bought originally will do everything needed for many years to come. The device is also extremely durable. There is a video showing a GoPro device surviving a 100,000 foot drop.

For everyday use, GoPro's device is expensive compared to other cameras. For...