GoPro’s ‘unique’ debut

GoPro’s pocket-size cameras are worshiped by sports enthusiasts, reporters and gearheads. On Thursday, a video-camera builder will find out either investors are only as eager about a products. GoPro starts trade as a open association on a Nasdaq after a marketplace opens; a ticker pitch is “GPRO.” GoPro has already sole 17.8 million shares to investors during $24 a piece, a high finish of a approaching range. That values a association during only underneath $3 billion. GoPro’s sale lifted $427 million in what could turn a largest consumer wiring IPO on record. Duracell now binds that mark with a $433 million open charity in 1991.

Last year GoPro was a No. 1 seller of camcorders in a U.S. and a distinction rose 88% to $61 million in 2013. Revenue jumped 87% to $986 million.

Bloomberg IPO contributor Leslie Picker says GoPro was means to get a aloft gratefulness given a association has pitched itself as a media company. The proceed is “a bit unique,” she says, though it reflects a company’s destiny expansion strategy.

GoPro is only one of a handful of IPOs that investors are closely examination this week. Michaels Stores, a humanities and crafts mecca, creates a entrance as a publicly-traded association Friday. Overall, a U.S. IPO marketplace stays prohibited — 144 new companies have listed on U.S. batch exchanges so distant this year, lifting a sum of $30 billion. 2014 is on gait to be a busiest year for a IPO marketplace given 2000 in terms of dollar value and a series of deals, according to Dealogic.

Follow The Daily Ticker on Facebook and Twitter (@DailyTicker)!

More from The Daily Ticker

Universal creates large gamble on Harry Potter — again

This is a biggest problem for a economy

Shiller: Rising rates won’t vanquish housing

You must be logged in to post a comment Login

Widgetized Section

Go to Admin » appearance » Widgets » and move a widget into Advertise Widget Zone