GoPro's capture device line now consists of the HERO4 Session, HERO4 Black, and HERO4 Silver models, Image source: GoPro,

What: Shares of GoPro (NASDAQ:GPRO) fell 10.6% Tuesday on no company-specific news. 

So what: It is worth noting, however, that GoPro wasn't alone in its painful plunge; key GoPro supplier Ambarella (NASDAQ:AMBA) also closed down more than 8% Tuesday on no materials news. That said, Ambarella has also fallen more than 17% over the past week, after the video processing chip company blamed high inventory levels for customers in the wearable sports camera space -- which GoPro dominates -- for its disappointing fourth-quarter results and light forward guidance. What's more, the broader market certainly didn't help, as the Nasdaq Composite Index turned negative late in the day before closing down 1.3%.

Now what: It's no mystery GoPro isn't exactly resting in the market's good graces after its painful holiday-quarter results last month. And until GoPro can prove it has what it takes to return the company to sustained top- and bottom-line growth -- which could come through any combination of its new software initiatives, impending new product category launches, or a long awaited refresh of its recently narrowed capture device lineup -- it seems these kinds of no-news swings (both down and up) are par for the course. In the meantime, investors would be wise to focus first on GoPro's actual business.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.