GoPro Huge Layoffs Coming..I Might Sell Everything..
Application form to apply & try and get in my Private Stock Group/Financial Fortress
It is rumored Gopro may layoff their entire Karma Drone unit and this makes me contemplate may be selling all my Gopro shares.
Want to join our free STOCKHUB discord chat? Here is the link
This is where you can chat for free with other investors in the stock market about individual stocks or things going on in the market. Enjoy!
*My Instagram is : FinancialEducationJeremy
This is a Jeremy Lefebvre Production
Created by Jeremy Lefebvre
Well the nightmare investment that is GoPro may be coming to an end we got to discuss all this if I’m going to be selling out on my position, Oh, we got to talk about where I’m at emotionally with this whole deal. So GoPro is in the process of laying off around 200 to 300 employees this week TechCrunch has learned from sources close to the company.
The hits to the company were largely concentrated in its aerial division, the segment of the company responsible for its Karma drone in a letter to impacted employees. GoPro explain these cuts are part of a larger restructuring quote, to better align our resources with business requirements and quote TechCrunch has been informed by sources that the company relieved impacted employees of duties today, but will likely keep them on payroll until February 16.
Holy smokes, until after c e s is over. Okay. And this comes just a couple of weeks after I’m watching a video that was posted on December 18. I don’t know if it’s a Chinese or Japanese. In gadget, Nick Woodman the CEO of GoPro was on and he was talking about, you know, he’s happy with the way Karma drone is gone.
He was talking about you know, there’s future iterations here. And then we see 200 to 300 employees getting laid off in the drone division. This is what I call lack of communication. And this makes me question if I want to be in the GoPro even more anymore after this point. And the reason being and we’re gonna kind of talk about the only thing that I’m kind of waiting for to maybe possibly get out of this position and whatnot.
So with GoPro here, you know, the main reasons I’m in this company is they’re kind of the number there are clear, and you know, clear in a day. The number one action camera maker, okay. The second reason I’m in this company, is because there’s hope that they could they’re already kind of the number two drone maker, but there’s hope that they could, you know, come out with better iterations of karma, a smaller package.
Things like that, and compete even in a bigger way with DJI right. So drones is kind of the second main reason I’m in this stock, the hope. I mean, when I first got into the stock, they were kind of looking into drones and talking about, you know, they’re gonna launch a drone and whatnot, and then they end up having a delay in a delay.
And then they finally came out with it, you know, fell out the sky, and this and that, and they screwed everything up. so freaking bad. It was unbelievable. Worst management team, by far I’ve ever invested in a company, right? they screwed that whole deal up. But there was still hope that okay, they can kind of rebound this and GoPros brands, so strong and whatnot.
And now we hear that maybe they’re not even have a drone division. And the number three reason is really around the VR camera. But the VR cameras, something kind of a little further down the road, drones can be more immediate, because that’s such a huge market already. Okay, so 200 to 300 employees.
In my opinion, I’m not executive at GoPro, but in my opinion, they probably only had 200 to 300 employees in the entire drone division. So if you’re going to eliminate 200 to 300, drone, drone employees, do you even have a business there anymore? At that point in time?
Are you even planning on coming out with new products and things like that, like if you have eliminated those, maybe you’re just exiting the space and you have no interest in even being in the drone space anymore. And that to me as a shareholder is like pure? I don’t know if I want to call lies or if I want to call it just miscommunication or whatnot.
Like a couple weeks ago, you’re hyping this out. Now some behind the scenes, you’re you’re doing something totally different. And it’s like, why like this is unbelievable to me. This is this isn’t I’ve never seen this happen in my almost decade of being in stocks. I’ve never been involved or seen a management team constantly say one thing and constantly behind everybody’s back doing another thing.
And it’s unbelievable the mistakes, the delays, the product issues, the mismanagement, the mismanagement of money on its thing after thing after thing, the hype and then all to be let down time and time again as a shareholder. They hype and they hype. And they let me down as a shareholder time and time again with this one. And it’s just a mess.
So as far as it will I sell the position as far as where I’m at emotionally with this whole investment. You guys know, this is me, it has meant a lot to me. I mean, all my investments, whether it’s a huge investment like GoPro, whether it’s a smaller investment, they all mean a lot to me.
Because I’m such a competitive person. I’m such a competitive person. And and so the money, the money is important. Absolutely. But for me, it’s actually the second thing, just for me as someone that cares about something a lot. You spend a ton of time putting in the work towards something.
When you have to take a loss. It hurts really, really bad and anybody out there that’s a super competitive person that puts in a lot of time towards something and you end up taking a loss. You guys all know how I feel. It is not a strong Feeling if it’s like a video game or something I don’t care about then who cares if I lose, but when it’s something you put a ton of time towards it hurts.
So what I’m kind of waiting on here is within the next month the company should announce their cue for earnings. Okay? These q4 earnings what I’m going to be listening to hear is not the hype I’m not going to be I don’t care what Wouldn’t it has to say, I don’t care if he’s gonna say they’re gonna become a Bitcoin blockchain company.
I don’t really freakin care what Woodman has to hype out or whatever because he’s lost so much trust with me that his words are irrelevant at this time. His words are literally irrelevant. They don’t even matter to me at this time. All I’m going to be listening to on that q4 is what the actual results are from this q4. Okay, and that is that results I don’t even know how to spell results anymore.
It’s just frustrating. All I’m going to be listening to is the results what are the what are the revenues coming in? Did they make a good profit if they couldn’t have made a really good profit in this q4, there is no hope for me in this investment. It’s just something I need to get out of because this is a quarter they should have easily made a very nice profit.
And if they couldn’t have made a very nice profit in this q4. no reason for me to be in this company. Absolutely none because there’s no there’s no hope for me to even may ever make a profit in this company. If they can’t make a profit in this q4 here, if they couldn’t have made a profit it’s not even worth it guys, so I’ll be listening those results and based upon what those results are the actual financials of revenues and the profits.
If they had any based upon that is when I’ll make my decision if I’m going to sell off 100% of my position, if I’m going to sell a 50% of my position or if I won’t sell off any the results are going to have to come in super strong, super strong for me to actually stay in this company at this point in time because I have lost so much faith in management at this point in time that I can’t trust anything they really have to say specifically one man.
I can’t trust anything that he has to say out there. So unless the results are super strong, and the revenues came in great and they beat all their numbers in the profits, they were super profitable, like unless those two things are there, like what is there for me to be even be in the stock at this time.
So once again, it hurts it absolutely hurts, you know, anybody that’s a super competitive person out there, you know how it feels when you put a lot of time into something and it doesn’t pay off and you have to take a loss but it is what it is and then this game is investment game.
Doesn’t matter how much time you put in how much work you put in doesn’t matter to you your foolproof plan and whatnot, you will still take losses sometimes is never going to happen where you’ll make 100% of time you’ll make 100% of your money like it’s just not going to happen guys sometimes you’re going to take losses in this game.
And it looks like I’m gonna have to take a big one here with GoPro and that hurts It certainly hurts because because of the time I put in because of the time I put in all those conference calls I listened to all those investor presentations you know.
Being in the stock and dealing with it in reading 10 Q’s and reading 10 Ks and this and that the amount of hours the amount of hours you put into something like this and for not to pay off it hurts guys, you know, it’s the it’s such a it’s worse it’s funny you know I was think about this.
I’m like what’s what’s a better or worse feeling my Wynn resorts I put in a ton of time toward and it pays off in a huge way right? Or the way I feel right now you know with GoPro more likely not working out or even close to working out and taking a huge loss and the pain I feel from the GoPro is actually much worse than how excited.
I am for what I made with when so you know it’s just the losses hurt more than the gains actually feel good for you and that’s just the way it is guys and and it is what it is but I got to accept it in it’s part of this game guys you’re in this game long enough you’re gonna have to take some losses here and there.
You know it that’s all I have to say you’re gonna take some losses here and there and it happens so anyways, we shall move on and see what happens in the future. But anyways, thanks for watching, guys and have a great day.