What Happened?
Shares of action camera company GoPro (NASDAQ: GPRO) jumped 2.4% in the afternoon session after the stock staged a rebound from a sharp sell-off in the previous session. GoPro shares had fallen 7% on Tuesday amid a broader market downturn. The negative sentiment was fueled by profit-taking across major indices, renewed concerns about tariffs, and rising Treasury yields, which added pressure to equity valuations. The pre-market gain suggests that some investors may be viewing the prior day's significant drop as a buying opportunity, leading to a partial recovery of the recent losses.
After the initial pop the shares cooled down to $1.52, up 2.4% from previous close.
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What Is The Market Telling Us
GoPro’s shares are extremely volatile and have had 60 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock dropped 7% on the news that the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs. Investors reacted to a federal court ruling that most of President Trump's global tariffs were illegal, raising uncertainty over trade policy and the fiscal impact of potential refunds. Rising Treasury yields added to the pressure, with the 10-year climbing above 4.2% and the 30-year nearing 5%, intensifying worries about stretched equity valuations. September's historically weak track record for stocks further dampened sentiment, leaving traders cautious ahead of the jobs report later in the week and the Federal Reserve's upcoming rate decision.
GoPro is up 38.2% since the beginning of the year, but at $1.52 per share, it is still trading 15.6% below its 52-week high of $1.80 from August 2025. Investors who bought $1,000 worth of GoPro’s shares 5 years ago would now be looking at an investment worth $365.38.
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