GoPro's Pain Nowhere Near From Over

The pain is no where near over for the already suffering GoPro (GPRO) - Get Report  shares. That's the latest take from TheStreet's Adam Heiman. The action-camera company is suffering from that age-old problem of 'the challenge isn't getting to the top, it's staying there'. The action camera market is set to grow more than 22 percent by 2023. Three quarters of that is personal action cameras of which GoPro represents nearly half. But that growth potential is drawing a lot of competition like LG and its rival product the LG Action CAM which set to debut next month. Antidotes to rising competition? To offer improved features or diverse product offerings. But, whether the company is able to execute is an open question. Case in point: GoPro recently delayed its heavily hyped Karma drone launch until later this year. Such execution concerns will leave investors with very little to cheer about for the foreseeable future. Technical indicators show another potential 30 percent drop from here.