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GoPro Inc (GPRO) Shares Boosted By JPMorgan Chase & Co. (JPM) Upgrade Despite An Overall Dull Market

GoPro Inc (NASDAQ:GPRO) has had a very successful year so far with stock price going up by more than 90% since its debut back in June. GoPro Inc (NASDAQ:GPRO) had hit its peak in the beginning of October, when the share prices went up by more than 200% and almost touched $100 mark. But since then the stock price has gone down consistently. Fox Business News Nicole Petallides reported on Fox Business that GoPro Inc (NASDAQ:GPRO) has been among the very few winners on Fridays trade.

GoPro

Petallides reported that the overall index has gone down so much that it has been the worst week in Wall Street for almost 3 years. She reported that there were many sell off’s, which focused mainly on energy stocks due to plunging oil prices. She said that there were few winners including GoPro Inc (NASDAQ:GPRO).

“[…] We saw few winners, GoPro and Lululemon. GoPro got some positive comments from JPMorgan that was a winner about the holiday season and new products,” Petallides reported.

She reported that across the board it was new lows and lots of selling, inspite of some bright spots like GoPro Inc (NASDAQ:GPRO).

JPMorgan Chase & Co. (NYSE:JPM) has earlier upgraded GoPro Inc (NASDAQ:GPRO) from ‘Neutral’ to ‘Overweight’ rating, which prompted this change in fortunes for GoPro Inc (NASDAQ:GPRO). JPMorgan analysts see some positive catalyst to the company despite some upcoming lockup expiration on Dec 23.

GoPro Inc (NASDAQ:GPRO) has lost more than 20% since its secondary offerings, but the only uptrend the company has seen in the last month was on Friday, post the upgrade from JPMorgan.

Disclosure: None

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