GoPro's Stock Drops After Stock Offering Plans

GoPro's stock slumped 2.6% in premarket trade Monday, after the maker of wearable video cameras announced plans to sell $800 million shares of Class A common stock to the public. The company said it would not receive any proceeds from the sale, as all of the share will be offered by selling stockholders. The timing and pricing of the sale were still not determined. The stock, which debuted on June 26, closed Friday at $79.06, or more than triple the initial public offering price of $24.