GoPro Inc (GPRO) successfully goes public and is valued at over $3 billion
GoPro Inc (NASDAQ:GPRO) CEO and founder Nick Woodman rang the bell on the trading floor for his action camera company to go public. GoPro is now valued at over $3 billion. The stock price started out near the top of its range when the bell rang and climbed from $24 to $30.
GoPro brought in $60.6 million in profit off on almost $1 billion in revenue last year. The first quarter of this year fell short of expectations. GoPro made its debut on Thursday on the Nasdaq Stock Market. with the symbol GPRO. The IPO price was at $24 per share.
GoPro sold 17.8 million shares to investors at the $24 IPO price, which is at the high end of the $21-$24 range said GoPro in a regulatory filing. GoPro has a loyal following among fans of its rugged action portable cameras, which can be strapped to a helmet or the front of a bike.