Action camera maker GoPro to move production of U.S.-bound cameras out of China over tariffs [MarketWatch]
GoPro, Inc. - Class A (GPRO)
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Source: MarketWatch
Action camera maker GoPro to move production of U.S.-bound cameras out of China over tariffs Action camera maker GoPro Inc. GPRO, -1.91% said Monday it is planning to move production of all U.S.-bound cameras out of China to avoid the impact of potential tariffs. The company said it will keep production of international-bound cameras in China. "Today's geopolitical business environment requires agility, and we're proactively addressing tariff concerns by moving most of our US-bound camera production out of China," Chief Financial Officer Brian McGee said in a statement. "We believe this diversified approach to production can benefit our business regardless of tariff implications." McGee said GoPro owns its own production equipment, while partners provide manufacturing facilities, "so we expect to make this move at relatively low cost." GoPro shares were down 0.4% in early trade and have fallen 34.6% in 2018, while the S&P 500 SPX, -1.52% has fallen 1.5%. Have breaking news sent
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GPRO
News
- GoPro, Inc. (NASDAQ: GPRO) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $2.00 price target on the stock.MarketBeat
- GoPro (GPRO) Plans to Reduce its Global Workforce by 4% [Yahoo! Finance]Yahoo! Finance
- 30 Countries with Most Dangerous Roads in the World [Yahoo! Finance]Yahoo! Finance
- 25 Countries with the Most Beautiful Sunset [Yahoo! Finance]Yahoo! Finance
- GoPro and PADI Link Up on New Specialty Certification Program for Scuba Divers [Yahoo! Finance]Yahoo! Finance
GPRO
Earnings
- 2/7/24 - Beat
GPRO
Sec Filings
- 3/26/24 - Form 8-K
- 3/11/24 - Form SC
- 2/20/24 - Form 4
- GPRO's page on the SEC website