Home » General Nugget » Investors bet big on GoPro, driving its shares up more than 30%

Investors bet big on GoPro, driving its shares up more than 30%

These camera’s are extremely popular with several of my clients.

Fortune

GoPro has charmed investors. Shares of the camera maker, whose devices enable extreme-sports lovers to catch the best waves and sweetest jumps, climbed more than 30% in their first day trading Thursday after its initial public offering.

GoPro had priced its IPO at $24 a share, which valued the company at almost $3 billion. They ended up at $31.34 at the close. That places GoPro’s market capitalization at almost $4 billion. The company trades under the ticker “GPRO.”

The lightweight mountable cameras retail from $200 to $400 and have attracted a wide following over the 10 years since CEO Nicholas Woodman founded the company. GoPro sold 3.8 million cameras last year at a 37% profit margin and recorded four straight years of profits.

But, the camera seller doesn’t expect to remain tied only to its device-making heritage. GoPro pitched itself as a media company during its IPO tour, and its valuation at three times 2013 sales is…

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