GoPro's (GPRO) clearly got street cred as a hot brand. But some Wall Street investors doubt the camera maker's speedy rise.
After zooming into the public markets in late June at $24, GoPro spiked to nearly $50 by early July before investors started growing skeptical.
The stock tumbled in recent weeks after the company reported revenue growth that was decent, but not good enough to justify all the hype of its blockbuster IPO.
One concern is clearly valuation. GoPro's forward P/E ratio stands at a lofty 39. That's the second-highest among companies on this list that are actually profitable. The company would have to generate a lot of profits to live up to that price level.
The question now is whether GoPro shares will hop back on the wave of enthusiasm for its brand or instead suffer another wipe out. Plenty of shortsellers are betting on the latter.
