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GoPro stock falls after company unveils new budget action camera

Shares of GoPro Inc. GPRO, -1.43% are down 0.4% in premarket buying and selling Thursday after the company announced a brand new entry-level motion camera. The $199 Hero camera has a two-inch touchscreen display and is water-resistant up to 30 feet. The camera is to be had nowadays. GoPro's head of product mentioned in a unlock that the Hero is intended "for people looking to share experiences beyond what a phone can capture." GoPro stocks are down 45% over the past 12 months, while the S&P 500 has won 10%.