GoPro Sink After Founders Gift 5.8 Million Shares to Charity

Founders of GoPro announced they're gifting 5.8 million shares from their personal stake in the company to the Nicholas + Jill Woodman Foundation. The stock tumbled as much as 14% on the news as Nicholas Woodman, GoPro's CEO, and his wife Jill Woodman are breaking a lock-up agreement to make the transaction. Lock-ups prevent company insiders and early investors from selling their shares immediately after its public offering. GoPro, which makes wearable sports cameras used by skydivers, surfers and other extreme sports fans, saw its shares fall on nearly three times normal trading volume on Thursday.