Why GoPro's Shares Jumped 21.6% on Wednesday

Shares of GoPro (NASDAQ: GPRO) jumped as much as 21.6% in trading Wednesday after the action camera company announced some positive results for its subscription service. Shares gained momentum throughout the day and were up 19.4% at 2:35 p.m. EDT.

Management reported that the number of GoPro subscribers had increased to over 500,000, up from 400,000 in August. It also said that the target of 600,000 to 700,000 subscribers by year-end should be exceeded if adoption rates continue as expected.

Image source: GoPro.

Source Fool.com