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Fly News Breaks for October 24, 2016
GPRO
Oct 24, 2016 | 09:44 EDT
Longbow analyst Joe Wittine said GoPro Hero5 checks indicate unusually tight supply three weeks after initial availability. The analyst is viewing this cautiously as retailers have received little replenishment since the initial sell-in 3+ weeks ago, one contact indicated "manufacturing problems" due to the "rushed" launch, and consumer interest is below Hero4. Further, yesterday, GoPro delayed the Karma shipment date to November 14 from October 23, and again this morning to November 28, implying Q4 guidance is our of reach, the analyst wrote. Wittine rates GoPro a Neutral.
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