GoPro (GPRO) is getting rave reviews, but many on Wall Street think the stock is overvalued. “GoPro is for pros, GoPro is for amateurs, ” said Jim Cramer of CNBC. “Amateurs buy the product and buy the stock, but the pros (professional investors) are shorting it.” While reviews say GoPro will be “the gift for the holidays, ” and sales have doubled over the last year, so has its valuation since it came public. Cramer dismissed these worries, because he sees the stock as a high-multiple momentum stock that will keep going higher and confound the shorts.
“GoPro has its own ecosystem, ” he said of one of the most popular ways nowadays to make Youtube videos. The number of orders skyrocketed even before the company introduced its newest iteration.