GoPro surges on merger news and retail trading frenzy
GoPro shares are sharply higher after a definitive merger agreement with Starman Optical and a disclosed 8.5% stake by Markiplier fueled heavy retail buying and volatility.
Shares of GoPro Inc. (NASDAQ: GPRO) are rallying sharply Friday morning, extending a multi-day surge as investors continue to weigh the company’s planned merger with Starman Optical Inc and an ongoing retail trading frenzy. The company said it has entered into a definitive merger agreement with Starman Optical, a privately held maker of optical components and AI hardware. Under the transaction, GoPro shareholders will receive $1.14 in cash per share and 0.1 shares of the combined company, leaving existing holders with about 10% equity ownership in the surviving entity.
GoPro said the deal marks a strategic shift from a standalone consumer hardware business to a provider of optical transceivers for AI data centers, defense technology, government applications and robotics. It said it still plans to keep its action-camera lineup and cloud subscription platform, while the combined company focuses on high-speed optical transmission. GoPro stock drew heavier trading after disclosures that YouTube creator Mark Fischbach, known online as Markiplier, acquired an 8.5% stake in the company.
The disclosure lifted retail interest across social media and prompted speculative buying, with GPRO shares up 22.30% at $1.70 at the time of publication on Friday, according to Pro data. The piece also noted economy data showing the addition of 162,000 payrolls.