GoPro Inc (NASDAQ:GPRO) shares surged 51.91% in after-hours trading Monday after reports that YouTube personality Markiplier has become the camera maker’s largest shareholder.
The stock closed Monday’s regular session up 46.06% at $0.88. It then climbed 51.91% to $1.33 in after-hours trading.
GoPro is a camera and imaging technology company known for its action cameras and related accessories.
Markiplier Becomes GoPro’s Largest Shareholder
Mark Fischbach, known online as Markiplier, now holds an 8.5% stake in GoPro, making him the company’s largest shareholder. He began accumulating the shares after viewing the stock as undervalued and said he wants to help turn the company around.
Fischbach has built a YouTube following approaching 40 million subscribers and recently self-released "Iron Lung," which generated $51 million at the box office on a reported $3 million budget. He used GoPro cameras for behind-the-scenes footage and later previewed the company’s upcoming Mission 1 Pro ILS camera.
The sub-7-ounce interchangeable-lens camera is designed to deliver footage comparable to professional film equipment. Fischbach’s investment comes as the company works to strengthen its product lineup after a prolonged decline in its stock price.
Price Action
GoPro has a market capitalization of approximately $161.64 million, with a 52-week high of $3.05 and a 52-week low of $0.57.
GPRO shares are down 41.19% over the past year.
Benzinga’s Edge Stock Rankings indicate that GPRO stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Primakov on Shutterstock.com
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