GoPro CEO On CNBC: Reasons Why This May Be The Top
GoPro Inc (NASDAQ: GPRO) hit $89.00 today. This is a triple from the IPO. All because of a water proof camera. While we all must tip our hats to a meteoric stock rise, logic and sense should take over at some point. The CEO is set to be on CNBC after 1PM ET today. If history repeats, this will be the top. Let's look at other reasons as well.
1. Past major CEO interviews have marked the top on stocks. An example in recent history would be Tesla Motors Inc (NASDAQ: TSLA). Recently Elon Musk was interviewed. The stock collapsed.
2. GoPro volume will be the highest ever today. A huge volume day where the stock is at epic levels usually signals a distribution and top in the stock
3. GoPro just announced a series of new cameras. The hype leading into this usually gets the stock soaring and history has shown us the actual launch, marks a top. Example recent would be Apple with the iPhone just weeks ago.
While this stock has been tricky to pick a top, if there is one, this is going to be the spot. Truly an epic move. Watch what the stock does after the CEO is interviewed on CNBC.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.