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Why GoPro Shares Jumped Wednesday

TheMotleyFool

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Shares of action camera maker GoPro (NASDAQ: GPRO) have been moving up this week, having gained more than 13% since Monday. The bulk of those gains is coming today, as shares were up 10.3% at 12:15 p.m. EST.

The stock has been on the list of Robinhood favorites for some time, but the recent move could be related to the resurgence of Reddit's WallStreetBets. GoPro has more than 10.5% of its float held short as of Feb. 26, 2021, according to MarketWatch.

With no recent company-specific news, this week's move could be an attempt at a short squeeze among retail traders.

Source Fool.com

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