Charles Payne Jumps on GoPro Bandwagon

Let’s talk about GoPro (NASDAQ:GPRO). OK, I am on the bandwagon…put me on that bad boy!

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I admit, I didn't jump on there before, but I did have Ambarella Inc (NASDAQ:AMBA), and they make the chips for all these guys -- and it did amazingly.

But this recent pullback in GoPro has created a buying opportunity. The name is entering the lexicon of Main Street, beyond extreme sports enthusiasts. The company’s selfie sticks, while extreme and hinting of jumping the shark, actually underscore the fact that this should be a major seller this Christmas season. The wild card for me is that online, what are they going to do? They have so much amazing content - there could be some huge money made there as well.

In the meantime, the company is executing great as a young publicly traded company. So far, they have done everything they are supposed to do. And it should enjoy massive growth for years to come.

And what really makes me excited is the indifference of Wall Street: Oppenheimer has an underperform, Stifel has a neutral, Baird has a neutral, Barclay's has an equal weight.

Technically, the chart looks great. I see a move to $84 (maybe next week), and a test of high of $98. It’s good short term, long term. The caveat here is it’s extraordinarily volatile.