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GoPro Inc (GPRO) Shares Surge Due to Trade-Up Program

Shares of GoPro Inc (NASDAQ:GPRO) rallied 3% on Tuesday after the action camera maker introduced a trade-up program for the first time ever. According to the program, existing GoPro owners can receive $100 off a new HERO5 Black, or $50 off a HERO5 Session when they trade-in any previous-generation GoPro HERO camera for a limited time beginning April 11. GoPro Inc (NASDAQ:GPRO) bulls hope that the trade-up program will stimulate demand for the two products, and help GoPro increase its overall demand. Shares of the company have been under pressure due to slowing growth and disappointing earnings reports. All-in-all GPRO stock is close to flat year-to-date, after falling sharply from its highs in 2014 and 2015.

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

According to our data, not many elite funds owned GoPro at the end of Q4. Of the 742 top funds we track, 14 had a bullish position in GoPro Inc (NASDAQ:GPRO) at the end of December, down 6 funds from the previous quarter.

The Bottom Line

GoPro Inc (NASDAQ:GPRO) shares have rallied on Tuesday due to the announcement of a trade-up program that could potentially stimulate demand. For more reading, check out ‘10 Best Camera Drones Under $100‘.

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Disclosure:None

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