The good news is Woodman invested money back in GOPRO rather than more buy backs.. Which do nothing to improve the company.. At least it is a start, And move in the right direction. Big time investors will not look at GOPRO until money starts to roll in from new cameras and drones, and virtual media.
Thank you.. Nick's Ego is to big to give this baby.. If it takes $40. for a buy-ot to get it back his billions.. and he doesn't get it.. They he isn't selling. One you made a few billion.. you believe you can do it again.
This how Woodman screwed us back when he promised GPRO was going to $75. He and his crooks sold out at that price and he never gave a dam afterwards.. He got his money.. And we were left holding the bag..
In one high-profile example, five months after GoPro went public in June 2014, CEO Nick Woodman, pre-IPO investors and other insiders sold about $797 million worth of stock in a follow-on offering. The video camera maker sold $97 million in stock at the same time to pad GoPro's cash stockpile, and everyone got a price of $75 a share.
GoPro's share price hasn't come close to the level at which CEO Nick Woodman and other corporate insiders sold a batch of stock in the months after the company's 2014 IPO.
It turned out those insiders sold just after a share price peak, and GoPro shares haven’t come within arm's reach of $75 since. On Thursday, GoPro's stock price hit its lowest ever closing price of $9.78 after the company reported tepid sales of a new line of its video cameras and predicted weak sales in coming months. Shares recovered a bit on Friday, but the value of shares sold by Woodman and the other insiders 15 months ago was equivalent to more than half of GoPro’s current stock market value.
I think maybe he had the number right.. but the decimal point in the wrong place.
Not a pretty picture when you don?t have any support from analysts, Wall Street, or even or own team.
What a let down for the investors who believed in this CEO and his #$%$.