Shares of GoPro Inc GPRO rose more than 7 percent Monday morning at a time when the Nasdaq index was lower by around 2.5 percent and the Dow Jones Index shed more than 300 points.
GoPro's stock gained during Friday's after-hours session after traders and investors were alerted to a new partnership with Microsoft Corporation MSFT pertaining to a patent licensing agreement for certain file storage and other system technologies.
Related Link: GoPro Trading Higher; Barron's Mentioned Sony, Under Armour Could Be Interested In Acquisition
Meanwhile, Barron's reported over the weekend that GoPro's stock may not be down and out. The publication suggested that GoPro still has "some financial cushion to regain its footing" given its $474 million in cash and no debt.
Barron's also speculated that GoPro's deflated stock could make it an acquisition target by Sony Corp (ADR) SNE or Under Armour Inc UA.
Shares of GoPro opened for trading at $10.32 on Monday and hit an intra-day low of $10.01 before rebounding. After more than 90 minutes of trading, GoPro's stock was higher by 7.2 percent at $10.69.
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