Tuesday, 02 January 2024 12:17 GMT

After Gopro Stock's Surprise 15% Rally, Retail Traders Hungry For More


(MENAFN- AsiaNet News)

GoPro shares witnessed an unusual and sudden spike on Monday, sparking retail chatter on Stocktwits and adding to the stock's building momentum.

Shares of the action camera maker jumped from $1.45 to $1.69 between 1 p.m. and 1:35 p.m. ET, and ended the day 15.4% higher. The stock gained 0.6% in the after-hours session.

On Stocktwits, the retail sentiment shifted to 'neutral' as of early Tuesday, from 'bearish' the previous day, even as users throned the messaging board. The message volume increased a whopping 7,600% in the past 24 hours.

It is unclear what caused the rally. GoPro has been in the limelight of late due to interest from retail and meme stock-focused investors and a new company initiative to offer its video data for AI training.

A Stocktwits noted a surge in orders for call options for April 2026.

"$GPRO A billion dollar valuation is the least you can accept for a global household name, patent vault and AI library," another user remarked.

GoPro shares tripled over just four days in July, fueled by a fresh wave of "meme stock" trading that also sent Opendoor Technologies, American Eagle Outfitters, and Krispy Kreme soaring - companies not traditionally associated with the meme stock frenzy.

Investors are closely watching for updates on GoPro's AI video licensing plan and the imminent debut of its flagship Hero 14 cameras. As of last close, GPRO stock is up 58% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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