GoPro, a San Mateo, California-based high-definition camera maker is off to a great start after Christmas. The company looks good at the tech stocks.
Previously called Woodman Labs, Inc, GoPro is an American corporation responsible for the development, manufacturing and marketing of high-definition personal cameras, frequently used in "extreme-action" video photography. The cameras are lightweight, compact, wearable and mountable on vehicles. Also, they have the capacity to capture still images or videos in HD via wide-angle lens. The users may configure the remote control degree or the required intervention.
On February 7th of this year, the company submitted a "confidential filing for an IPO or Initial Public Offering" with the SEC (Securities and Exchange Commission).
Last May 19, this company officially filed its S-1 with the Securities and Exchange Commission without spelling out their price or the number of their shares. GoPro stated that they have high hopes to move up at least $100 million through the sale of their shares, employing the money to reimburse debt in full amount of $111 million as of March 31 this year and "to invest or acquire complementary technologies, businesses or assets." GoPro is also planning to list on the stock exchange of NASDAQ with the use of symbol 'GPRO.'
$21 to $24 a share is the price range expected and on 24th of June, the company sold 17.8 million shares to first investors at $24 per share which total to $427.2M. GoPro, at the IPO price was valued at $2.95 billion. 1.5% of the shares have been allocated to LOYAL3. LOYAL3 is a tech platform that permits small investors to take part.
The possibility to become a media company is a huge factor that influenced GoPro's decision to go public. This is their way to make extra revenue from the created content of its cameras.
The GPRO shares nearly up to 4.3 percent at $69.23 last Friday which extends to a weeklong streak that has added over $13 to the stock price's value. Amazon made a statement dated December 26, 2014, "GoPro's Hero4 Silver and some accessories kicks were the best sellers in its camera category this holiday season."