![Nick Woodman, founder and chief executive officer of GoPro, looks up at displays of his company's ads in Times Square after the opening bell for the release of the company's IPO at the Nasdaq MarketSite in New York, NY, Thursday June 26, 2014.](https://api.time.com/wp-content/uploads/2015/09/460317660.jpg?quality=85&w=2400)
GoPro could soon face an extreme problem: the already battered video-camera maker’s stock could fall an additional 29%.
That’s a prediction that Barron’s is floating in a new story about the hardware company, which has cultivated a cult following among extreme sports fanatics that use GoPro devices to share daring feats.
GoPro’s shares jumped 31% when the company debuted in June 2014, though even with that bounce, skeptics wondered if the company could fend off competitors that could bring similar products to market at lower price points. GoPro’s share price peaked at $98 in October 2014, but has spent much of this year in decline, with the stock now trading at around $35, back at the level it achieved when GoPro launched its IPO.
Barron’s asserts more woes are to come. It says one-hit wonders such as GoPro don’t fare well over time, as other players permeate the market. The publication points out that when a camera-related patent was issued to Apple, the news sent GoPro’s shares down 12% when that news was reported. That’s how sensitive the stock is to worries about competitive fears. More recently, when Apple gave details about the company’s new iPhone cameras, GoPro’s shares slid again.
More Must-Reads from TIME
- Biden Drops Out of Presidential Race , Endorses Harris to Replace Him
- Why Biden Dropped Out
- The Chaos and Commotion of the RNC in Photos
- Why We All Have a Stake in Twisters’ Success
- 8 Eating Habits That Actually Improve Your Sleep
- Stop Feeling Bad About Sweating
- Welcome to the Noah Lyles Olympics
- Get Our Paris Olympics Newsletter in Your Inbox
Contact us at letters@time.com