Go Pro Opens Up, Gaining 20 Percent On Initial Trading

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.