Nick Woodman’s GoPro is getting absolutely destroyed as Apple files for a GoPro like patent which has the potential to revolutionize the use of action-cameras. As of yesterday, shares finished down more than 12% at $49.87 per share meaning that GoPro is now down almost 50% from its fall 2014 high of $98.47.
According to Patently Apple, Apple has officially been granted a patent for a GoPro-like camera system.
In this particular granted patent report we cover a single invention that relates to a camera system. What’s interesting here is that Apple’s invention that was filed in 2012 appears to now incorporate intellectual property from Kodak that they acquired back in November 2013. In one implementation, Apple’s invention could directly move into GoPro’s territory as the patent specifically mentions the weaknesses of the GoPro devices. Specifically, the patent notes that the new camera system could be secured to various objects, such as a bike helmet or scuba mask, or mounted to the handlebars of a motorcycle or the front of a surfboard…
This might have something to do with todays crash:
Thought its not all bad news; for investors who managed to get in when GoPro released their IPO, the stock is up 74% from its June 26, 2014, IPO.
Picture Credit: Google Finance/Getty Images