GoPro In The Red After Setting Secondary Share Sale Price

MarketWatch Pulse

GoPro Inc. shares remained down by 6.5%, at $73.94 a share Thursday, one day after the digital sport-camera maker set the price for a secondary offering of the company's stock. Late Wednesday, GoPro said more than 10 million shares of its stock would be offered at $75 a piece, while GoPro's stocks closed Wednesday at $79.09 a share. GoPro said J.P. Morgan would be the lead underwriter of the offering. "It's their underwriters' call," said Michael Pachter, an analyst with Wedbush Securities. "And those guys appear to believe that was the right price."

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