Shares of GoPro plunged nearly 5% in pre-market trading Friday after research RW Baird cut the camera maker’s rating over slowing sales.
Baird analyst William Power slashed GoPro’s rating from outperform to neutral, reports Marketwatch, citing concerns over slow sales growth for the company’s line of high-definition cameras.
Power also cut GoPro’s price target to $18.
GoPro stock has taken a beating since early August, when the stock was trading above $64. Since then, shares have sunk 70%.
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