After the stock skyrocketed 31% on its first day to close at $31.34, shares hit an intraday high of $40.47 on the second day of trading. On Monday, shares closed at $40.55. The stock closed Tuesday at $48.80, representing 103% jump from GoPro's high-end initial offering of $24 per share. Shares are currently around $43.70.
Calling this a successful IPO would be a gross understatement. It was picture-perfect. But investors are getting carried away. This is not likely to end well.
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