GPRO Stock Jumps 55% Overnight: Retail Calls YouTuber’s Nearly $10M Investment Momentum ‘Only Getting Started’
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Markiplier believes GoPro is undervalued, and his interest is tied to his goal of making filmmaking more accessible.
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GoPro stock has fallen 37% this year, and the company is competing against larger corporations like Sony and Garmin.
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On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’.
GoPro Inc. (GPRO) stock jumped over 55% overnight after YouTube creator Markiplier disclosed an 8.5% stake worth roughly $9.3 million, making him the company’s largest shareholder. The surprise investment sent the beaten-down camera maker soaring and fueled a wave of retail speculation that the rally could extend further.
Markiplier now owns 8.5% of GoPro
According to an SEC filing dated Aug.20, Mark Fischbach, better known online as Markiplier, now owns 8.5% of GoPro. According to a Bloomberg report, the 37-year-old creator said he considers the company undervalued and wants to see it succeed.
Markiplier wants to make professional filmmaking easier and more affordable for online creators. His movie Iron Lung earned about $51 million from a $3 million budget, showing that creators can succeed without Hollywood studios. Fischbach has changed his opinion on GoPro cameras after trying the new Mission 1 Pro ILS, which is small, lightweight, and built for higher-quality filmmaking.
GoPro stock traded nearly 56% higher overnight, after a 46% rally in the regular session, notching its best day ever.
GPRO: A Troubled Stock
Fischbach’s investment comes despite GoPro’s difficult performance in public markets. The shares have dropped more than 55% this year and over 90% during the past five years. The company has also been reviewing strategic options and warned of significant uncertainty surrounding its ability to remain operational over the coming year.
GoPro still faces major challenges. Sony (SONY) is strong in imaging technology, while Garmin (GRMN) is a major competitor in outdoor and fitness products. GoPro is much smaller, making it harder to compete in technology, product development and distribution.
GoPro has also sought approval for a potential sale of up to $800 million in Class A shares, including up to $100 million in newly issued stock. Additional shares could create selling pressure.
What GPRO Retail Traders Are Saying
On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ from ‘neutral’ territory. The stock saw a 5,671% surge in message volume over the past week with a 0.4% gain in watchers.
