Go Pro GPRO began the auction process to determine the initial stock valuation at 10:35 AM. Watching the Level 2 order book, the initial levels that seemed attractive to those who participated in the auction was between $30 and $34. The stock has an initial price from underwriters of $24 dollars making the underwriters profitable off this IPO. Five minutes before the end of the auction, here is what the Go Pro book looked like during the auction process:
After the auction process, the stock opened for trading at $28.65 at 10:50 AM EST which is roughly a gain of 20 percent for the underwriters. Dougherty & Co are the only analytical firm with a rating on the stock. They have a buy with a $28 price target. Last trade was $30.11 as of 10:54 AM EST on Thursday June 26th.
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