Since the company first went public almost a month ago, shares of GoPro stocks (GPRO) have continued to rise to approximately 70% over its initial public offering (IPO) of $24/share. Unfortunately for GoPro however, there seems to finally be an ending to the never ending increase in stock prices.

GoPro is the maker of a series of cameras athletes strap onto their helmets, surfboards, or any other object to capture video footage of their sporting experiences. Many people are pointing fingers and blaming an article written by Barron’s report for the recent decline of stock prices

The article states that smart phones have historically replaced most, if not all, stand-alone technology gadgets. For example, in 2009 Cisco Systems purchased the Flip camera for approximately $600 million. The Flip was a small high-definition video camera that fit into a pocket. Soon after, Apple incorporated a video camera into their iPhones, making the Flip obsolete after two years.

GoPro stock is not the only company suffering. Other camera makers have also suffered as a result of smartphones. Over the last three years, stocks for Nikon and Canon have decreased 19% and 30% respectively.

However, GoPro’s stock decrease may just be attributed to the natural pattern of IPOs today that reach a skyrocket high before returning back to reality.

Topics: IPO, Small Business, Startups