Shares of wearable camera maker GoPro (GPRO) shot up 7.5% Thursday to a new closing high on above-average volume. GoPro stock has doubled since its initial public offering debut on June 26. Priced at 24, the stock rose 31% on its first trading day and raised $427 million. GoPro closed Thursday of 48.90 in the stock market today, just shy of its all-time high of 49.90 touched on July 1. GoPro stock fell 15% on Aug. 1 as its Q2 earnings fell short
Action camera maker GoPro (GPRO) reported its first quarterly earnings as a public company late Thursday and it wasn’t a pretty picture. The San Mateo, Calif.-based company said it earned 8 cents a share excluding items on sales of $244.6 million in the second quarter. Analysts were expecting adjusted earnings per share of 7 cents on sales of $238 million. On a GAAP basis, GoPro lost $19.8 million, or 24 cents a share. That compares with a loss of $5.1 million, or 6 cents per share, in the year-earlier period. GAAP accounting includes the impact of stock-based compensation and other items. GoPro stock was down 12.5%, near 42, in afternoon trading in the stock market today. Go Pro made its IPO a t 24 on June 26 and hit an all-time high of 49.90 on July 1. “We delivered a strong quarter of operating results driven by increased demand for…
GoPro founder and CEO Nick Woodman fittingly took selfie photos with a GoPro action-sports camera as he rang the opening bell for Nasdaq on Thursday. Woodman and other GoPro (GPRO) executives celebrated the company’s initial public offering at Nasdaq’s Times Square facility in New York City. They used the occasion as an opportunity to promote their already popular GoPro (GPRO) cameras. Woodman even put one of the tiny cameras in his mouth and posed for photographers. It was one of the goofier moments from Thursday’s event. But it’s part of a tradition of goofy photo ops at opening and closing bell-ringing ceremonies for the Nasdaq and New York Stock Exchange. The two major U.S. stock markets have transformed the perfunctory task of signaling the start and end of the trading day into a spectacle. Some treat the occasion respectfully, as Investor’s Business Daily did when it rang the closing bell at…