Why GoPro (GPRO) Stock Is Rising Today

NEW YORK (TheStreet) -- Shares of GoPro  (GPRO) are rising 5.02% to $71.69 in afternoon trading, boosted by Google (GOOG) investing millions of dollars in Youtube, according to retail analyst Hitha Prabhakar on Fox Business News.

Prabhakar said the real investment opportunity is in the portable camera company as more novice video producers will look to buy GoPro cameras to film YouTube videos.

The Internet giant is putting more money into YouTube in an effort to prevent talent from going to competing online video services after announcing it has launched a new initiative to help stars create high quality video content.

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Google will help produce various kinds of content of different formats, as well as pair the YouTube performers with more traditional Hollywood producers, Re/code reported last Thursday.

GPRO Chart GPRO data by YCharts

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