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Shares of GoPro Inc (NASDAQ: GPRO) had a nice rally on Wednesday. Although the company’s stock has been a high flier since its IPO, the rally was backed by news from various sources that GoPro is about to launch its own lines of drones. With Amazon and Google experimenting with their own drones for commercial purposes, it seems right now GoPro will be the only company that'll focus on launching drones for consumers.
CNBC's Dominic Chu reported on the rumors and news surrounding the company’s entry into the drone space.
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“Shares of GoPro are taking off right now, this on news from multiple reports that GoPro may be getting into its own line of drones with its cameras by sometime next year they are aiming for price between, say these reports, between $500 to $1000 per piece. So, GoPro looking to get into the drone business here,” Chu said.
“Also interesting on the flight side of things, we have got some interesting headlines from the FAA, they say that there are more reports of aircraft drone near misses this year, they also say that commercial pilots, airline pilots have spotted more than 100 drones while they were flying their own commercial planes.”
Shares of GoPro closed Wednesday at $79.05, up 5.81 percent. Shares are up about 1 percent in Friday's pre-market session.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.