Shares of GoPro plummeted 14 percent after the action-camera maker gave a disappointing outlook despite reporting its first quarterly profit in two years.
CFO Brian McGee attributed the not-so-bright outlook to the launch of the Hero6 camera, which he said cannibalized the sales of the Hero5. GoPro will need to slash prices on the Hero5, which had already struggled with production delays, to move backed-up inventory during the holiday season.
GoPro stock was recently down 13.9 percent in mid-day trading, to $9.18.
With so many accessories for cell phones, the digital camera business has taken a downward turn in general.