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GoPro (GPRO) Stock Soars With New Trade-Up Program

Joseph Lu

GoPro, Inc. GPRO closed the day, up 3% to $8.95 per share, after the company released its camera trade-up program.

The program offers customer of the California-based company to trade in their previous-generation GoPro HERO camera for a price reduction on the latest HERO5 Black or HERO5 Session. For a limited time starting April 11, users will be able to receive $100 off a new HERO5 Black and $50 off a HERO5 Session when they trade in their old GoPro camera through their Trade-Up website.

The trade-up program will “allow us to introduce existing customers to the modern GoPro experience and prepare our community for the new software enhancement ahead,” said GoPro’s chief operating officer CJ Prober.

The action camera maker hopes the program will stimulate public’s interest in the two products, as well as bring traffic to GoPro’s website. The company’s stock has been tumbling due to slow growth and new competitors who can offer competitive products at lower prices.

Shares of GoPro have been trading flat year-to-date. The company is focusing on its Karma products and hoping to revive its sales through the drone.

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