GoPro (GPRO) shares hit a new high on the stock market today, even as the Nasdaq fell 2%. The wearable-action-camera maker has a Composite Rating of 98 and is featured on IBD’s Leaderboard. Ambarella (AMBA), a GoPro chip supplier with a 99 Composite Rating, can be found on the Leaderboard’s Sector Leaders List. IBD TV’s Alissa Williams has the details. Follow Alissa Williams on Twitter: @IBD_AWilliams.
Stock in the leading maker of wearable video cameras rose 6.7% to a new high of 72.88 Tuesday. GoPro (GPRO) is the top-performing IPO of 2014. Its June 26 offering priced at 24 and rose 31% on its first day. The stock is now up more than 200%. GoPro has an IBD Relative Strength rating of 99, meaning it has outperformed 99% of all other stocks. GoPro is scheduled to be added to the Russell 2000 Index on Sept. 30. The Russell 2000 Index measures the
Action camera maker GoPro (GPRO) has attracted a lot of competitors to the market it created. But so far its devices continue to dominate the category thanks to their superior quality, FBN Securities said in a research note Monday. FBN analyst Shebly Seyrafi initiated coverage of GoPro with an outperform rating and price target of 70. GoPro stock was up 6.5% in afternoon trading on the stock market today, near 62.50, and GoPro stock hit an ll-time high for the fifth day in the past six trading days. GoPro made its initial public offering in June, pricing its shares at 24. GoPro sells “best-of-breed action cameras … that are known for very good image resolution,” Seyrafi said. “With only 3.8 million units shipped in 2013 (vs. 30 million portable navigation devices in the U.S. and 90 million digital cameras and camcorders), the company has ample runway ahead to drive strong…