GoPro stock tanked Thursday following an announcement that JPMorgan agreed to release 5.8 million shares from a lockup restriction, raising concerns of a large block sale. GoPro (GPRO) late Wednesday issued a press release saying that its husband and wife co-founders, CEO Nicholas and Jill Woodman, “have provided a personal gift toward establishing a new charitable organization, The Jill + Nicholas Woodman Foundation.” JPMorgan, the lead
GoPro introduced three new cameras Monday and its stock hit a new high for the fifth straight trading day. The company unveiled a new top-of-the-line model, the Hero4 Black, which at $499 is $100 more than the Hero3 Black. But the company also introduced an entry-level camera, priced at $129. GoPro (GPRO) is the leading producer of wearable and durable high-definition video cameras — the GoPro Hero series — used by surfers, bikers, skiers and
Action camera-maker GoPro (GPRO) continued its skyward climb Friday, rising 1% despite a report from JPMorgan calling the newly public stock overvalued. The San Mateo, Calif.-based consumer electronics company hit a record high of 82.40 intraday on Friday and closed at 82.10. It was the sixth straight day of advances for GoPro, which went public on June 26 at 24. “The stock has run up about 238% since its IPO at $24.00 (S&P flattish) and is now trading above fair value in our view, notwithstanding hyper-growth prospects as the firm expands into a large addressable market,” JPMorgan analyst Paul Coster said in a research note Friday. Coster rates GoPro stock as neutral with a price target of 54. Retail store checks show that GoPro has been dealing with sold-out products throughout the quarter, Coster said. That indicates that demand is outstripping supply for its cameras, he said. “It is also…