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Thursday, September 23, 2021

Are there any secrets behind GoPro’s (NASDAQ: GPRO) recent performance?

Shares of action camera maker GoPro (NASDAQ: GPRO)soared 5.37% to $9.81 at the previous close. ‎GoPro, Inc. designs and manufactures gadgets like drones, cameras, and mountable and ‎wearable accessories. ‎

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Taking the past into consideration, we will evaluate various forward-moving or backward-moving ‎developments regarding action camera maker GoPro (NASDAQ: GPRO). During the past five ‎business days, shares increased 23.09%, and for the past thirty days, shares rose 19.20%. Over the ‎last six months, the stock’s output increased 145.25% percent, while overall annual production ‎increased 196.37 percent.‎

Do we need to keep our optimism alive?‎

Though GoPro lost 75% of its value since 2015, there are still plenty of growth opportunities for the ‎company. GoPro has worked tirelessly to augment its business a la GameStop in the months before ‎its January short-squeeze. Since the beginning of the calendar year, the company has delivered a ‎positive performance of 18.48%.‎

The most recent news came out of GoPro (GPRO)‎

On February 23, 2021, GoPro, Inc. (NASDAQ: GPRO) revealed that the company would participate in ‎these two investor conferences:‎

  • At 2:30 pm Eastern time (11:30 am Pacific time) on March 1, 2021, JMP Securities ‎Technology Conference.‎
  • Morgan Stanley’s Technology, Media and Telecom Conference (Virtual), scheduled for ‎Tuesday, March 2, 2021, at 5:00 pm Eastern (2:00 pm Pacific).‎

GoPro, Inc. (NASDAQ: GPRO) released its financial results for the full year and fourth quarter of ‎‎2020 on February 4, 2021.‎

  • The fourth quarter of 2020 was $358 million, up 28% sequentially from $281 million during ‎the third quarter. ‎
  • The GoPro subscriber base was 761,000 at the end of 2020, an increase of 52% sequentially ‎and 145% year-over-year.‎

Let’s hope they continue this for a few more quarters, and we’ll be able to discuss this as a ‎comeback. However, what may be happening doesn’t justify such a claim.‎‎ ‎

So, this could be the trick?‎

Despite virtually no company-related news, GoPro shares surged dramatically recently. ‎

Short sellers have already rallied massively this week, with GameStop up more than 100%. This ‎means that volatility risks are still genuine. One must not forget that most retail investors sucked ‎into the January squeeze ended up losing big and playing the house with their hard-earned ‎money. In the next year, investors will have to decide if they want to invest even larger in ‎technology stocks, as pricier valuations, regulatory risks, and the revival of short-term market ‎names threaten to reduce their appeal.‎

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