GOPRO IS OPEN TO SALE

JPM lands a role

Shares of action sports camera maker GoPro slammed to earth on Monday after the embattled company announced yet another turnaround effort that included plans to pink-slip one in five of its workers.

Staring at an all-time low share price of $5.09, Chief Executive Nick Woodman went on CNBC and Bloomberg TV and hinted at the beginning ( of a sales process.

If the TV chats were part of a plan to stanch the bleeding, they worked.

GoPro shares turned around and rebounded 30 percent — closing at $6.56, down 12.8 percent.

Indeed, Woodman is arranging to take offers as it plans to begin a sales process soon, a source close to the situation told The Post.

“I can confirm that JPMorgan is our banker,” Woodman told Bloomberg. “We have not engaged them to help us sell the company.”

“With that said, if there were an opportunity to partner up with a larger organization that could help us scale our brand, it is something we would consider … but it is not something we are actively engaged in at the moment,” the 42-year-old executive said.

There are companies interested in buying GoPro that are preparing to take a look, the source said.

“But people are worried about competitive barriers to entry,” the source said.

Smartphone cameras are believed to be hurting money-losing GoPro’s growth, which now has become essentially flat.

GoPro, in its most recent annual filing said, “The manufacturers of [smartphone cameras], such as Apple, Google and Samsung, may design them for use in a range of conditions, including challenging physical environments, or develop products with features similar to ours.”

There is going to be some interest in buying GoPro because of the recognizable brand name it has established since first selling cameras in 2004, but perhaps not strong interest, the source said.

Woodman may have waited too long to put his company up for sale. The California native has held several meetings over the past year with potential buyers, but talks never went too far, the source said.

GoPro’s shares, meanwhile, have fallen 28 percent over the past 12 months.

The company on Sunday dropped the price of its latest camera, Hero6 Black, to $399, from $499, and announced it was ending its drone program.

An analyst at Cowen on Monday projected GoPro revenue will fall to $1 billion this year, from $1.19 billion in 2017.