Why GoPro Stock Marched Almost 55% Higher in March
Shares of action-camera company GoPro (NASDAQ: GPRO) marched 54.8% higher in March, according to data provided by S&P Global Market Intelligence. CEO Nicholas Woodman gave a couple of presentations early in the month but nothing said there was a clear catalyst for the stock's outsize move. In fact, there wasn't much news that seems to adequately explain why the stock was up so much.
Generally speaking, when a stock like GoPro makes this big of a move, the catalyst is clear. For example, newly disclosed financial results can send a stock higher, especially when results exceed expectations. But GoPro didn't report in March. Bullish sentiments from Wall Street analysts can also make shares pop in the short term, but there weren't any prominent professionals commenting about GoPro last month either.
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Source Fool.com
