GoPro (GPRO) Stock Falls Today After CFO Lazar's Comments at 2015 CES
BYAndrew MeolaFollow | 01/07/15 -
(GPRO) fell 5.17% to $61.50 in morning trading Wednesday after the company's Chief Financial Officer Jack Lazar spoke to Citigroup's Ehud Gelblum at the 2015 Consumer Electronics Show.
Gelblum commented that GoPro is trying to transition to a direct distribution model in Europe and grow its retailer base in the region. Lazar remarked that such a transition could take time.
Lazar also indicated that growth outside the U.S. could stay relatively flat in 2015 because GoPro would likely not open its own stores either in the U.S. or overseas anytime soon.
Gelblum also said, after discussions with GoPro management, that mergers and acquisitions are not off the table because acquisitions could stimulate GoPro's media strategy. Finally, Gelblum said GoPro's device shipments in the next few years would continue to drive the company's growth and profitability.
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