GoPro rockets after YouTuber Markiplier becomes largest shareholder
+40.38% to $1.23 from $0.88
What moved GPRO
- Mark Fischbach, known as Markiplier, disclosed an 8.5% stake in GoPro, becoming its largest individual shareholder, and said he views the stock as undervalued and wants to help turn the company around.
- GoPro shares rose more than 46% on Monday after the stake was disclosed over the weekend, then climbed further to trade around $1.44 Tuesday morning, a roughly 140% two-session gain off last week’s 60-cent low.
- The rally combined Markiplier’s buying with a short squeeze in the heavily shorted stock.
- Markiplier has a YouTube following approaching 40 million subscribers.
Sources: Fast Company · Benzinga