GoPro Stock Surges 86% in Pre-market Trading as YouTuber Markiplier Becomes Largest Shareholder

BlockBeats News, September 1st, according to BIT (Bit.com) market data, the US stock GoPro (GPRO) surged by about 86% in pre-market trading on Tuesday, with the stock price briefly touching around $1.63.

On the news front, YouTube star Markiplier (real name Mark Fischbach) disclosed in a Schedule 13G filing that he holds about 8.5% of the company's shares, becoming the largest individual shareholder. Markiplier has nearly 40 million subscribers and has recently ventured into movie production. He stated that he believes GoPro's stock price is undervalued and hopes to help the company turn around its losses.

Previously, he has used GoPro devices to shoot related content and is interested in the company's upcoming MISSION 1 Pro ILS interchangeable lens camera. Encouraged by this news, GPRO surged by about 46% during regular trading hours on Monday, continued to rise in after-hours trading, as retail investors' buying frenzy further drove up the stock price.

Recently, the fundamentals of GoPro have still been under pressure, with Q2 revenue declining by about 31% year-on-year. The company is in the process of strategic reassessment, and this recent surge is mainly driven by the celebrity ownership effect.