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GoPro Stock Tumbles on Apple Sports Camera Patent News

Sue Chang, reporting for MarketWatch:

Shares of GoPro Inc. skidded on Tuesday, at one point tripping a Nasdaq short sale circuit breaker. The selloff was sparked by news that Apple Inc. was granted a patent for a sports camera, according to Seeking Alpha. GoPro shares fell 8.5% to $51.98 in recent trading with the stock shedding 15% so far this week.

This says less about GoPro’s viability or Apple’s future plans and more about just how knee-jerk the stock market can be. That said, I’ve long been wondering if GoPro is just the next Flip. Remember them?

See Also: Patently Apple’s story on this patent filing. I seldom pay much attention to Apple patent filings — they file many times more patents than they could ever bring to market. But as I wrote the other day, Apple is a camera company.

Tuesday, 13 January 2015