GoPro Inc’s shares fell as much as 16 percent on Monday after a French journalist suggested that Formula 1 legend Michael Schumacher’s injuries in a ski accident last year might have been caused by a wearable camera made by the company.<\/p>\n
“The problem for Michael was not the hit, but the mounting of the GoPro camera that he had on his helmet that injured his brain,” Jean-Louis Moncet told radio station Europe 1 over the weekend.<\/p>\n
Moncet was reported to have spoken to Schumacher’s son, Mick, but the journalist denied this in a tweet later.<\/p>\n
Schumacher, a seven-time Formula 1 champion, suffered severe head injuries in a skiing accident in Meribel in the French Alps on Dec. 29. Schumacher emerged from a medically induced coma in June. He has been receiving treatment at home since September.<\/p>\n
“We are trying to get more information about the original report from Jean Louis Moncet. His tweet this morning suggests the comments didn’t come from a family member,” GoPro spokesman Jeff Brown wrote in an emailed response to Reuters.<\/p>\n
The company’s shares ended down 9.8 percent at $76.67 on the Nasdaq on Monday. Up to Friday’s close, the stock had nearly quadrupled in value since the company listed on June 26.<\/p>\n
Shares of other wearable camera makers also fell, with Digital Ally Inc closing 12.9 percent lower at $10.41 and Taser International Inc ending 3.2 percent down at $13.61.<\/p>\n
GoPro a $3 billion company: underwriter<\/a><\/strong><\/p>\n