- Monday: 29.9 million shares at $14-$16
- Tuesday: 34.5 million shares at $17-$19
- Wednesday: 36.6 million shares price at $20
Here’s why there’s a lot of happy faces down here today: the average insider owns the stock at 37 cents.
That’s not a typo. Insiders own the stock at an average price of 37 cents.
- IPO raised: $703.5 million
- Market cap: $4.1 billion
That’s impressive since GoPro only raised $427 million for its IPO.
Investors are swooning over the stock because of how quickly they have scaled. Four years ago, the company had $15 million in revenue. In the latest trailing 12 months, revenues have grown to $973.4 million, and they are profitable, with $170.9 million in net income.