• US stock market daily report (May 28, 2015, Thursday)

    San Mateo, California based camera maker GoPro, Inc. (GPRO-Nasdaq) is diving headfirst into the virtual reality and drone markets with a mounted six-camera array to be available during second half of 2015 with a price-tag upwards of $3,000. GoPro is introducing a six-camera device to capture 360-degree spherical video that comes with a quadcopter drone for capturing video from up high in a whole new way.

    At the Code Conference in Rancho Palos Verdes, California on Wednesday, GoPro founder and Chief Executive Officer Nick Woodman announced the new products.

    While GoPro was already working on the concept, the camera maker pushed its development efforts after Facebook, Inc. (FB-Nasdaq) spent $2 billion on virtual reality start-up Oculus in 2014.

    At the conference Woodman said, "VR is going to be popular just based on gaming alone. But for VR to be appealing to non-gamers it's going to need content. It's going to need photo and video content, and GoPro is positioned better than anyone in the world."

    The world's biggest maker of consumer drones is DJI in China. Since the Federal Aviation Administration has outlined the rules for consumer usage, drones are gaining popularity in the USA. Many drones already use GoPro cameras to capture footage while in flight.

    Woodman said he is most excited about the content that can get created with cameras strapped to unmanned aircraft and added, "It looks like you're in your own movie professionally produced. People are looking to use GoPro in even more inventive ways."

    Shares were higher by 8% into early morning trading Thursday.

    Contributed by Millennium Traders
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.