Shares of GoPro were down another 5% on Monday, adding to their 9% decline on Friday, as shares of the wearable camera company continue to slump.
Friday’s decline in GoPro shares followed an initiation of research coverage on the stock by analysts at Oppenheimer, who put an Underperform rating and $US45 price target on the stock, according to StreetInsider.
In just the last three trading days, GoPro is now down more than 14%, and in late morning trade on Monday, shares were trading near $US68.
And with the recent decline, shares of GoPro are now down more than 25% from their all-time high of around $US98 per share hit earlier this month.
GoPro is set to report third quarter earnings after the market close on Thursday.
Expectations are for the company to report earnings per share of $US0.08 on revenue of $US263.45 million, according to estimates from Yahoo Finance.
Here’s the chart showing the recent drop in GoPro shares.