GoPro (GPRO) Stock Soars Amid High Short Interest
Bloomberg News
NEW YORK (TheStreet) -- Shares of GoPro (GPRO) - Get Report are up 13.31% to $12.43 on heavy trading volume late Monday afternoon as short interest surges to a five-month high of 26.9 million shares, according to MarketWatch.
Many investors interpret high levels of short interest as a positive for the stock, as any good news could cause people who are short to buy shares to cover their bearish bets.
About 11.12 million shares of the action-camera maker have been traded so far today, well above its average trading volume of roughly 5.37 million shares per day.
GoPro's most recent announcement was a Thursday release disclosing that NBCUniversal executive Lauren Zalaznick would join its board of directors.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
GoPro's weaknesses include its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: GPRO
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.