Late-stage production problems with GoPro Inc.’s newest camera briefly caused the company’s shares to falter. GoPro’s stock dipped from $11.94 at close Thursday to as low as $9.90 Friday before rebounding to $11.15 around 11:30 a.m. Pacific time. The San Mateo, Calif. action camera maker gave few specific details of the Hero5 camera’s production problems during a Thursday call with analysts, saying only that the problem was found “very late” and that it is now at full production. “They’re already great products.”Though some GoPro investors have thought its action cameras were a passing fancy, Hero5’s problems are only on the production side, said Michael Pachter, research analyst at Wedbush Securities. GoPro’s first drone, the Karma quadcopter that debuted in October, also faced some production issues, but company executives said that was less of an issue than with the Hero5.

Source: Los Angeles Times November 04, 2016 19:24 UTC