GPRO stock is up 137% since its IPO, but down 40% from its intraday high of $98.43.
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Lockups and the expiration dates are often of concern to many traders when considering features of initial public offerings (IPO). The terms and conditions between institutions, that underwrite a new stock sale including the shareholders with shares prior to IPO, withhold those from selling before the expiration date.
Supposedly, a large quantity of shares were inclusive for sale on Tuesday, December 23, 2014. GoPro, however, extended the lock up period for many shareholders until mid February 2015 through a second IPO of $800. The terms for investors that unloaded stock will initiate a new lockup prohibiting them from selling shares for an additional 90 days.
According to a press release statement from GoPro, the company plans to innovate and continually develop their greatest products which are within the HERO camera line.
We relentlessly pursue our goal of developing the world’s most versatile capture devices and enabling self-capture during any activity. To stay at the forefront of our industry, we are focused on continued product innovation and leadership. Areas of innovation include custom sensor and digital signal processing technologies as well as custom lens, audio, battery and accessory design.
What is the bottom line for GoPro investors and enthusiasts?
Most astute investors will speculate that the secondary IPO is quite the discount and that insiders are going to capitalize substantially. More importantly, here is another chance to purchase shares for those who missed the GoPro train.
Featured image via GoPro
