GoPro, which sells action cameras, rose 12.6% in 24 hours to $1.7. This rally began when the company announced it was being sold: a $285 million all-cash deal, with optical module maker Starman Optical taking over. In the days after the news came out, the stock doubled.
The company was once truly glorious. At its peak, its market value reached $12 billion, and more than 80% of the world's action cameras were its own. Now its market share has fallen to the single digits, squeezed hard by DJI and Insta360. From $12 billion to $285 million, that kind of gap would leave anyone needing a moment to recover.
Some people in the group said that GoPro, once owned by everyone, had ended up being sold off. Others guessed the optical module maker was after its U.S.-listed status and wanted to avoid the hassle of an IPO. A $1.7 stock that can still jump 12% in a day? If it were me, I definitely wouldn't be able to hold it—I’d honestly just sit back and watch.
The company was once truly glorious. At its peak, its market value reached $12 billion, and more than 80% of the world's action cameras were its own. Now its market share has fallen to the single digits, squeezed hard by DJI and Insta360. From $12 billion to $285 million, that kind of gap would leave anyone needing a moment to recover.
Some people in the group said that GoPro, once owned by everyone, had ended up being sold off. Others guessed the optical module maker was after its U.S.-listed status and wanted to avoid the hassle of an IPO. A $1.7 stock that can still jump 12% in a day? If it were me, I definitely wouldn't be able to hold it—I’d honestly just sit back and watch.