Ban on restricted stocks GoPro unexpectedly rose 9%

February 18, the sports camera manufacturer GoPro's stock lock-up period expired in Tuesday, a total of 76 million shares were released.　　Normally, the expiry of the lock-up period is bad news for a stock, but GoPro's share price rose by an unusually big 9% in Tuesday. As of 12:41 (1:41 18th), GoPro's share price surged $4.15 to $49.42, or 9.17%, in conventional trading in the Nasdaq market.　　In the past 52 weeks, GoPro's highest share price was $98.47, with a minimum price of $28.65. Gus Richard, analyst Gass Richard of the northern capital Markets, published a study in Tuesday to Northland the GoPro stock rating as "buy".　　He reasoned that the expiry of the lock-up period associated with GoPro's IPO last June could be an "attractive entry point" for investors.　　Richard believes the GoPro continues to grow, with part of the momentum coming from digital video and the use of sports cameras by products such as drones and helmets. "We believe that the ' killer ' application of GoPro products is in the digital preservation of social media sites. "said Richard.　　He pointed out that GoPro has a good brand, its products not only have mobility, but also can provide users with a unique way to take photos, which may be the mobile phone can not do, so will become the "expanded version of the camera phone." GoPro's share price has fallen by nearly 23% per cent so far this year.　　Even after a sharp rise in Tuesday, the stock has fallen by less than 2% per cent so far this month. GoPro shares were hit hard by the expiry of a smaller lock-up period last December, when a total of 36.6 million shares were released, compared with the performance of Tuesday.　　Before the expiry of the lock-up period in December, GoPro's share price had been down for three months as it was seriously short and investors were uneasy about the expiring lock-up period. Richard set the GoPro's target share price at $70, based on his forecast that earnings per share would reach $1.75 trillion after the GoPro adjustment in 2016, and that the target price would be calculated by multiplying the expected P/E ratio by 40 times times. By contrast, analysts surveyed by FactSet, the financial information provider, set a target of $66 for GoPro.　　According to the FactSet survey, five analysts set GoPro's stock rating to "buy" and 10 analysts to "hold" (Hold). GoPro IPO, which was priced at $24 a share at the end of last June, and the first-day closing rose more than 30% per cent.