Tags: GoPro | stock | share price | Michael Schumacher

GoPro Stock Plunges 14 Percent on Michael Schumacher Report

Monday, 13 October 2014 02:27 PM

Shares of GoPro, which makes cameras for extreme action video, plummeted as much as 14 percent after a French journalist said a GoPro camera may have been responsible for the brain injury suffered by Formula One racecar driver Michael Schumacher in a skiing accident.

The stock traded at $77.75 early Monday afternoon, down 9 percent from Friday. Earlier, it dropped to $73.28

French F1 commentator Jean-Louis Moncet made the assertion to radio station Europe 1, saying it was based on a conversation with Schumacher's son Mick, who was with him at the time of the Dec. 29 crash, according to the Metro.co.uk.

"'The problem for Michael was not the hit, but the mounting of the Go-Pro camera that he [Schumacher] had on his helmet that injured his brain," Moncet said.

Schumacher suffered his injury after falling and hitting his head on a rock in the French Alps. He still can't move or speak, but he was able to return home from a rehabilitation clinic. A team of medical professionals watches over him at his home in near Lake Geneva.

London’s The Telegraph reported earlier this year that the GoPro may have been an issue.

GoPro's stock is still up an astounding 171 percent so far this year.

"The more GoPro keeps going up, the more people are calling a top, and then the more it keeps going up," Michael Antonelli, an equity sales trader at Robert W. Baird, told The Wall Street Journal last week. "It just keeps getting more ridiculous by the day."

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Shares of GoPro, which makes cameras for extreme action video, plummeted as much as 14 percent after a French journalist said a GoPro camera may have been responsible for the brain injury suffered by Formula One race-car driver Michael Schumacher in a skiing accident.
GoPro, stock, share price, Michael Schumacher
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2014-27-13
Monday, 13 October 2014 02:27 PM
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