GoPro Inc Stock Tumbles After Google Clips Announcement

GoPro Inc Stock Tumbles After Google Clips Announcement
Mizter_x94 / Pixabay

What does it take to sink a stock? Not much, when it comes to companies perceived as teetering on the edge. GoPro stock slumped immediately following one of Google’s big product reveals on Wednesday, and the product actually bears very little resemblance to GoPro’s cameras. The Google Clips is a small clip-on camera that investors see as being big competition for GoPro’s wearable cameras. It didn’t take long for the camera to send GoPro stock plunging as it fell 5% in only about 10 minutes, and the plunge continued on Thursday, as it’s down already by about 3%, and the market’s only been open for about 30 minutes.

The Google Clips is more than just another wearable camera, however. It’s a new concept because users just clip it onto their shirt, and then it takes pictures automatically throughout the day. Google harnessed the power of artificial intelligence for the camera as it’s designed to zero in on things the wearer will want to remember the most, such as smiles, the people they care most about, and other fun memories. The camera is the ultimate device for capturing candid shots that truly represent regular life.

As neat as the Google Clips camera sounds, I can’t help but wonder how long it will be before people start complaining about privacy issues. Privacy concerns were one of the issues that helped kill off Google Cardboard, although at least the Clips actually looks like a camera. The Google Clips doesn’t require an Internet connection, which is good for the privacy of the user, at least.

[Exclusive] DG Value Underperforms In H1, Sees Growing Number Of Distressed Opportunities

Dov Gertzulin's DG Capital has had a rough start to the year. According to a copy of the firm's second-quarter investor update, which highlights the performance figures for its two main strategies, the flagship value strategy and the concentrated strategy, during the first half of 2022, both funds have underperformed their benchmarks this year. The Read More

The camera’s price probably won’t help it much either because Google has set it at $249, and many of the comments on articles about it were about how expensive it is compared to what people would pay for it.

It does seem a little strange that just the mere announcement about the Google Clip