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Why GoPro Stock Popped Today

TheMotleyFool

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Shares of GoPro (NASDAQ: GPRO) have popped today, up by 12% as of 2:30 p.m. EDT, after Prentice Capital Management disclosed that it had boosted its stake in the action-camera maker. Separately, the company also said it had started shipping the Hero 8 Black, its latest flagship camera.

In a regulatory filing on Friday, Prentice said it now holds nearly 12.5 million GoPro shares, representing an approximately 10% stake in the company. That's up from the 7.9 million shares, a 6.5% stake, that the hedge fund had previously disclosed in a similar filing from August.

Hero 8 Black. Image source: GoPro.

Source Fool.com

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