- After rallying ahead of Thanksgiving weekend, GoPro (NASDAQ:GPRO) and Ambarella (NASDAQ:AMBA) are seeing profit taking on a weak day for tech stocks. The declines come even though sell-side checks for Black Friday Hero camera sales have been fairly positive.
- JMP: "Our key takeaways from the in-store checks are that there is a healthy velocity of sales volume across the varying price points of the Hero, Hero3+, and Hero4 product offerings, and we observed exceptionally weak activity and poor shelf space positioning from would-be competitive offerings." The firm adds discounted Hero3+ and new Hero4 models are also faring well online, and that multiple GoPro videos have topped 3M views on YouTube.
- Wedbush: "During Black Friday week, Amazon intermittently sold out of the newer models, benefiting Best Buy during Black Friday, but Amazon quickly replenished its supply, hardly missing a beat. Best Buy Online was intermittently sold out on Black Friday."
- Pac Crest: "We detected particularly strong demand for the discounted Hero 3+ Silver Edition, which was being bundled ... We found retailers still had plenty of Hero 4 (Black and Silver) inventory as of Friday midday. We think this was more of a case of being extremely well prepared for a busy holiday weekend rather than any disappointing sell-through."
- Ambarella reports on Thursday.