GoPro’s (GPRO) Torrid Climb Continues

Shares of the wearable camera company GoPro Inc (GPRO) are up nearly 23% as of midday trading on Tuesday, with an intraday high of $49.90 per share.

Today’s spike marks the fourth straight day of gains for the action-camera maker following last Thursday’s public debut. GoPro shares popped 30 percent from its opening price Thursday on the Nasdaq. On Friday the stock kept going, gaining another 14 percent to close at $35.90. The weekend didn’t seem to stop GoPro’s advance either, as the stock stormed higher right out of the gate, gaining another 13%. In total, GoPro has now more than doubled in value since its IPO priced at $24, giving the company a market cap of more than $6 billion.

The stock’s spike has more than doubled GoPro founder and CEO Nick Woodman’s net worth. According to Forbes, Woodman’s current total net worth is approaching $3 billion, up from over $1.2 billion at the IPO price.

2014 has been a booming year for IPOs, tech IPOs in particular. GoPro’s four-day rally after its initial offering has kept, for the time being, that trend intact.

Be the first to comment

Leave a Reply

Your email address will not be published.


*