One Reason GoPro (GPRO) Stock Is Down

NEW YORK (TheStreet) -- Shares of GoPro (GPRO) are trading in the red, down 2.21% to $49.10 in late morning trading Monday, after Wellington Management Group disclosed its 6.27% passive stake, down from the 12% stake the firm reported last month.

The stake now represents 5.61 million shares in the action camera maker.

Wellington first reported a 7.4% GoPro stake on February 12. 

On Friday, TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on GoPro during the Mad Money Lightning Round.

"Here's the problem with GoPro: There's been a big movement to buy it and I missed it, and I can't go back and tell you to buy it," said Cramer.

GoPro, formerly Woodman Labs, develops mountable and wearable cameras as well as other hardware and software products to help consumers more easily capture, manage, and share their content.

The company is based in San Mateo, Calif.

GPRO ChartGPRO data by YCharts

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