GoPro’s First Day Public Goes About As Well As Possible

Camera maker GoPro went public on the NASDAQ stock exchange Thursday. With one day of trading out of the way, early impressions are coming in: so far, so good.

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Camera maker goPro went public on the NASDAQ stock exchange thursday with one day of trading out of the way early impressions are coming in so far so good. The company priced at $24 a share going into the IPO thursday for a valuation of three billion dollars. Shares reached $31.34 by the close pegging the valuation at closer to four billion dollars. Not bad for a days trading. The Wall Street Journal reports it was the biggest consumer electronics IPO since Duracell went public in 1991. GoPro's rugged little cameras have built a reputation on their usefulness for extreme sports, but the company has shown they're good at getting footage of pretty much anything they're attached to from kayaks to pelicans to small children. [SOUND] So it might not be a surprise the company is looking to expand it's operations from camera hardware into media management. Reports indicate GoPro wants to create an online video network where users can upload and share the footage from their cameras. The move is raising eyebrows at Market Watch. So you're betting on a business model that they haven't even developed yet, much less successfully employed. I don't like speculating on a management that's not yet proven themselves fully in one business to successfully pivot into another business. A slightly more material risk noted by several outlets is this bit from GoPro's IPO. Consumers may be injured while engaging in activities that they self-capture with our products, and we may be exposed to claims, or regulations could be imposed, which could adversely affect our brand, operating results and financial condition. It does happen. And in some cases GoPro has actually published the footage. But the risk doesn't seem to have dulled interest in the stock from investors or indeed interest in the brand from the public. Video of stunt driver Guerlain Chicherit's failed jump Went viral after all, and for what it's worth, he sustained only minor injuries. Whether goPro's stock price stays as resilient in the face of such risky behavior, of course, remains to be seen. Thanks for watching. I'm Cliff Jud.
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GoPro’s First Day Public Goes About As Well As Possible