Sports camera-maker GoPro announced 4Q 2017 revenues that were 29% below the company’s original guidance due to poor sales of its flagship camera required significant discounts. The company’s stock fell by a third and a significant cost cutting plan has been launched. Panjiva data shows U.S. seaborne imports by GoPro and of related products fell 27% in the fourth quarter vs. a year earlier. A 36% slump in the month of December alone – to the lowest level for the month since 2014 – suggests a recovery is not expected early in 2018.
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