Markiplier Takes 8.5% Stake in GoPro, Stock Surges 52% After Hours
GPRO has more than doubled off its 52-week low of $0.57 on elevated volume (23× avg).
Summary
YouTube star Markiplier has become GoPro's largest shareholder with an 8.5% stake, triggering a 52% after-hours surge to $1.33. The stock had already jumped 46% in the regular session to $0.88. This follows a brutal stretch for GoPro: a Nasdaq delisting notice in July, a going concern warning in its Q2 10-Q, and a 31% revenue decline. Markiplier's involvement brings a high-profile backer who says he wants to help turn the company around, and his recent film success with GoPro cameras adds product credibility. The move is a major sentiment shift for a stock that was trading near its 52-week low of $0.57. Watch whether the rally holds into the next regular session and whether Markiplier's stake triggers any activist or strategic changes.
At the time of this announcement, GPRO was trading at $1.33 on NASDAQ in the Technology sector, with a market capitalization of approximately $164M. The 52-week trading range was $0.57 to $3.05. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.