GoPro (NASDAQ: GPRO) released weaker-than-expected third-quarter 2016 results after the close, and the market couldn’t seem to decide just how bad it thought the action-camera maker’s results were. After promptly falling more than 17% in Friday’s early trading, GoPro shares gradually recovered, to trade in positive territory by midday — only to turn negative again and close down more than 6%.
Let’s take a closer look at what drove GoPro’s relative underperformance to start the second half of the year.