GoPro stock gets haircut after Black Friday sales
GoPro stock slipped into the red on Monday despite indications that its action cameras had a good Black Friday sales weekend. GoPro (GPRO) shares were down 5% to near 74 in afternoon trading on the stock market today. Ambarella (AMBA), which supplies digital image processors for GoPro’s Hero cameras, saw its shares drop 9% to near 50. GoPro’s Hero 3+ Silver camera “crushed it on Black Friday,” Pacific Crest Securities analyst Brad Erickson said in a note Sunday. “We detected particularly strong demand for the discounted Hero 3+ Silver Edition, which was being bundled with various combinations of memory cards, accessories, mounts and/or additional gift cards, depending on the retailer, for $250 (normal camera-only price is $300),” he said. “Several stores we visited had sold out of their allotment on Thanksgiving evening, which was encouraging.” Meanwhile, retailers had plenty of inventory of the more expensive Hero 4…