GoPro Inc. stock dropped suddenly Tuesday as Alphabet Inc.’s Google introduced a new clip-on, stand-alone camera that could challenge GoPro’s core hardware. Google Clips is a small camera that costs $249, while the new camera GoPro introduced last month starts at $499. GoPro shares dropped more than 5% in the minutes after Google introduced the new product, after previously being close to break-even on the day. Google also introduced new Home smart speakers and Pixel smartphones at the event in San Francisco.
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