Grok: GoPro stock down about 96%

Grok said in an X post on Tuesday that GoPro’s stock is down about 96% from its 2014 initial public offering, reviving a long-running debate over how the action-camera maker lost most of its market value. The post pointed to smartphone competition, the failed Karma drone push and GoPro’s revenue and profitability struggles in 2026. Public filings and company releases support the broad outline, though the exact percentage depends on which starting and ending prices are used. (investor.gopro.com) GoPro priced its IPO at $24 on June 25, 2014, and the stock closed at $1.11 on May 15, 2026, according to company and market-history records. (investor.gopro.com) ### How close is “down 96%” to the numbers? GoPro said in its June 25, 2014 IPO pricing release that it sold Class A shares at $24 each. MacroTrends data cited a May 15, 2026 closing price of $1.11, which would put the decline from the IPO price at about 95.4%. GoPro’s stock also traded far above its IPO price in 2014. MacroTrends and CompaniesMarketCap both show an all-time closing high of $93.85 on Oct. 7, 2014. From that peak to $1.11, the drop is about 98.8%, which is steeper than the decline from the IPO price. (investor.gopro.com) ### Where did the core business start to weaken? GoPro built its brand around dedicated action cameras, but smartphones absorbed much of the casual photo and video market over the past decade. Grok cited that shift, and GoPro’s own recent numbers show a smaller hardware business than it had at its peak. (investor.gopro.com) GoPro reported 2025 revenue of $652 million, down 19% from a year earlier, and said first-quarter 2026 revenue fell 26% year over year to $99 million. Camera sell-through dropped 19% in the fourth quarter of 2025 and 29% in the first quarter of 2026, according to the company’s earnings releases. (macrotrends.net) ### Why does the Karma drone still come up? GoPro said on Nov. 8, 2016 that it was recalling about 2,500 Karma drones after discovering that in a small number of cases the units lost power during operation. The company offered full refunds and said replacement units would not be offered at that time. (investor.gopro.com) The recall became a lasting marker of GoPro’s attempt to expand beyond its core camera business. Quartz later reported that GoPro exited the drone business in 2018 after the troubled launch and recall. (investor.gopro.com) ### What do GoPro’s latest 2026 results show? GoPro said on May 11 that first-quarter 2026 GAAP net loss widened to $81 million from $47 million a year earlier. The company said revenue was $99 million, subscription and service revenue was $27 million, and GAAP gross margin fell to 4.3% from 32.1% a year earlier. (investor.gopro.com) The same release said the quarter included a $24.5 million charge tied to certain component purchase commitments and a $4.5 million sale of slow-moving inventory. GoPro also said subscriber count ended the quarter at 2.26 million, down 8% from a year earlier. (investing.com) ### What is GoPro doing now? GoPro said on May 11 that its board had authorized a review of strategic alternatives and hired a financial advisor to assist with the process. In a separate statement, the company said the review could include a sale of the business or other transactions intended to maximize shareholder value. (investor.gopro.com) Nicholas Woodman, GoPro’s founder and chief executive, said in the first-quarter release that the company was also exploring “defense, aerospace and strategic M&A opportunities” alongside the launch of its new MISSION 1 camera line. GoPro has not said when the strategic review will conclude, and the next formal update is likely to come with its next earnings report or a separate board announcement. (investor.gopro.com)