Shares of GoPro Inc GPRO added to Tuesday’s gains in Wednesday’s pre-market following the lock-up period expiration.
According to Reuters, the first lockup period on shares, which expired Tuesday, made “about 15.3 million shares held by employees and early investors available for trading.”
Even with the availability of more shares in the market, demand was strong Tuesday as the stock climbed 6.1 percent.
Adding to the momemtum were recent comments from Wedbush which stated that GoPro cameras are the "gift of choice" this Christmas.
Since it’s June IPO the stock is up over 90 percent, although it is down from its October 6 high of $93.79.
In Wednesday’s pre-market, the shares moved higher from Tuesday's close and recently traded at $64.02, up 4.03 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.