The stock is trading down 3% at $8.68 a share, giving back all of Tuesday's gains, which came after the company announced its first ever "trade up" program that allows consumers to get the newest GoPro models at a discount when they trade in their outdated cameras.
The company will give current owners $100 off a Hero 5 or $50 off the more affordable Hero 5 Session camera if punters are willing to trade in any old model.
Customers can go to GoPro's trade-up website, select the new camera of their choice, and follow the instructions to return their previous-generation Hero. It means that anyone who owns an old GoPro can get a significant discount off of a new GoPro Hero5. Once GoPro has received the user's old device, the company will ship the Hero5 Black/Session to the user.
If you've had the same camera for years but haven't treated yourself to an upgrade, now is a better time than ever.
The goal of the program is to incentivize "users in the United States to experience the new, cloud-connected GoPro and unlock breakthrough software upgrades slated for 2017", GoPro said.
The Black and Session are both great 4K action cameras, but at $399.99 and $299.99 respectively they may be a little too expensive for some - especially if you already have a perfectly good GoPro. The action camera maker also says it will recycle the old GoPro cameras through zero landfill and other recycling methods that are appropriate to material type. However, as desirable as a GoPro is, it's not something most of us need. The Motley Fool has the following options: short January 2019 $12 calls on GoPro and long January 2019 $12 puts on GoPro.
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