GoPro Inc. GPRO, -8.17% shares fell to their lowest prices since the company’s 2014 initial public offering Monday, despite the addition of a new camera to the company’s consumer offerings. GoPro had declined as much as 7.8% by 2:15 Eastern time Monday, hitting a new low of $29.78.
The action-camera manufacturer detailed a new offering in the morning, showing off a camera dubbed the Hero+ that will aim for the lower end of the market, with a price tag of $200.
The camera will be the cheapest GoPro to connect to users’ smartphones via Wi-Fi or Bluetooth technology, a capability the entry-level, $130 Hero does not provide. GoPro’s record lows are still above the company’s IPO price of $24 a share, but well below highs of nearly $100 a share reached since its June 2014 IPO.