GoPro is (finally) getting what they deserve

In July, GoPro’s founder lent his own company $20 million of his own money. Three months later that loan was in default — because of how GoPro had accounted for the loan itself. On 16 October 2026, GoPro told regulators four sets of its own financial statements should no longer be relied upon. The filing says the errors were unintentional and not fraud. The shares closed last week at $1.05. Twelve years ago they closed at $93.85. Everyone says smartphones killed GoPro. Last year the action camera market grew 83% in units — DJI and Insta360 now take 93% of shipments between them. GoPro didn’t drown in a shrinking market. The tide came in higher than ever and it sank anyway. On 1 September, GoPro agreed to merge with Starman Optical, which wants its 2,500 imaging patents for AI and defense. Shareholders vote before year-end on $1.14 a share. Sources: GoPro SEC filings, the 16 October 8-K, the merger agreement, IDC market data.