First $FIT, Now $GPRO, the Trash of Wall Street Has Been Taken Out and Incinerated

The CEO of GoPro is representative of everything that is wrong about present day corporate America. A spoiled brat, son of Robertson Stephens founder Dean Woodman, Nick went off into the world with a camera strapped to his fucking helmet, during his retreats in Aspen, using Dad’s money and influence to fund and bring public Wall Street’s biggest piece of shit, GPRO.

Since coming public, the stock is down something in the order of 90%, all the while Nick has been cashing in and buying big god damned yachts.

Yesterday another scam stock, FIT, missed and summarily pummeled in the faces of those who were long. Today it is the GPRO shareholder — strapped to the gibbet — being offered a proper and thorough lashing in the after hours.

Reports Q3 (Sep) loss of $0.60 per share, excluding non-recurring items, $0.26 worse than the Capital IQ Consensus of ($0.34); revenues fell 39.9% year/year to $240.56 mln vs the $312.73 mln Capital IQ Consensus.
Gross Margin 40.6% (Guidance 39-41%)

Co issues downside guidance for Q4, sees EPS of $0.25-0.35, excluding non-recurring items, vs. $0.45 Capital IQ Consensus Estimate; sees Q4 revs of $600-650 mln, excluding non-recurring items, vs. $669.83 mln Capital IQ Consensus Estimate.

Co issues downside guidance for FY16, sees FY16 revs of $1.25-1.30 bln (Prior $1.35-1.50 bln) vs. $1.39 bln Capital IQ Consensus Estimate.
2017

“Looking forward to 2017, we expect to return to profitability, driven by the strength of our new products, double digit revenue growth and annual operating expenses of approximately $650 million.”
Double digit year-over-year revenue growth
GAAP operating expenses of approximately $735 million
Non-GAAP operating expenses of approximately $650 million
GAAP net loss

Non-GAAP net income profitable

As long as there are venture capitalist like FRED “TWLO” WILSON, ramping up the valuations of good companies in the private markets, colluding with investment banks to dump on an unread public, this will continue to occur.