Shares of GoPro are off as much as 10% today and 15% for the week. The drop comes at the end of a month-long 45% jump that effectively snuffed the hopes and dreams of any bears hoping to ride the one-trick company to zero.
By way of answering many, many questions on why I wouldn’t short a POS like GoPro I give you the stock’s 5-day chart:
GPRO is off 15% in the last 2 days. Shares had jumped 45% since February 4th. Year-to-date GPRO is now down 30%. Calling the turns is insanely hard. Catching the middle of moves can work… right up until it doesn’t. Like today.
Day-trading a pig-show like GoPro is a full-time job. It costs money to short, either borrowing costs or put buying. You can swing trade, jumping in and out to catch the middle of moves but that’s less a trading strategy than playing Russian Roulette with your money. You may go on a great run but the downside is severe.
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