The action camera maker introduced a new product.
This is a compact image-stabilizing device that will retail for just under $230.
In the long history of consumer tech companies, the introduction of a splashy new product has often juiced the stock price of the company doing the introducing. That was largely the case with action camera and accessories maker GoPro (NASDAQ: GPRO), which saw its shares rise by just under 4% Friday on the launch of a new good offering with artificial intelligence (AI).
GoPro kicked off that morning with the announcement that it is rolling out said product, the Fluid Pro AI. This is what the company describes as an AI subject tracking gimbal (a gimbal is a mechanism that stabilizes precision instruments like cameras).
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Image source: Getty Images.
Fluid Pro AI is a compact device that can easily fit in a user’s hand; thus is a good fit for efficiently sized GoPro cameras. It is available in its preorder stage for $229.99; the company did not specify when it might be shipped.
In its press release trumpeting the gimbal, GoPro highlighted several features of the device. It includes interchangeable mounts for a range of GoPro’s cameras, it can function as a front- or rear-facing tracker, and it boasts an integrated fill light. Its maker added that it has up to 18 hours of runtime when fully charged.
GoPro is laboring mightily to keep its products relevant in an age when powerful cameras are packed into even the most modest smartphones. Investors clearly feel this product is the latest iteration of that effort, and they’re placing bets it can distinguish itself and win big in its niche.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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