GoPro Stock Falls 11%, Triggering Short-sale Restrictions
Shares of GoPro Inc. closed sharply lower on Wednesday, a day after the company's stock soared even as a share lockup expired. Shares of the wearable camera maker shed 11.2% to end Wednesday at $45.21 in high-volume trade, shortly after a circuit breaker triggered a short-sale restriction for GoPro's stock just before the market close. The selloff comes a day after Northland Capital Markets analyst Gus Richard said the lockup expiration represented an "attractive entry point" for investors. GoPro earlier this month gave a quarterly forecast that fell shy of expectations, despite strong sales of its cameras during the holiday quarter. The stock is down 46% over the past 12 months.
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