GoPro had an amazing price increase last Friday through this Tuesday. One of the reasons GoPro did so well is due to their announcement on releasing their new HERO6 camera and their highly anticipated spherical camera, Fusion.
Short Sellers had had a terrible outcome last week. After another small price decline, the Bulls were becoming discouraged.
Surprisingly Tesla’s stock had an amazing increase in its Q2 earnings disappointing many bearish investors and causing them to lose a massive amount of money. How long will the price increase before traders can expect another price dip?
GoPro started out very bearish yesterday morning, but the Bulls managed to pull it back up in the afternoon. After looking back at a few of GoPros quarterly earnings revenue doesn’t look too promising. I have a feeling the price of GoPro’s stock may take another big step down in price.
We all know that Elon Musk is a brilliant CEO that has broken many expectations.
Recently Musk admitted that his electric car company’s stock price is too high, and the stock charts say the same.
I used to swing trade GoPro a couple of months ago while they were undergoing a lawsuit, and their Karma drone was recalled. I haven’t seen many changes in the company other than new accessories for their products.
The company continues to get bashed by popular banks, hedge fund managers, and analysts. If the company doesn’t improvise and innovate, they won’t see their stock increase and consolidate in double digits.
The good thing about this stock is that it makes a great profitable swing trade and short term investment for anyone with smaller brokerage accounts.