YouTuber Markiplier's Stake Boosts GoPro Stock
YouTuber Markiplier has become a major shareholder in GoPro, causing the company's stock price to surge significantly. The investment helps GoPro avoid potential delisting from Nasdaq.
GoPro Inc. (Nasdaq: GPRO) shares saw a substantial increase following the announcement that popular YouTuber Markiplier has acquired a significant ownership stake in the action camera maker.
Mark Fischbach, known online as Markiplier, has purchased an 8.5% stake in GoPro, making him the largest individual shareholder. Following the news, GoPro's stock jumped over 46% on Monday and continued to climb in premarket trading Tuesday, reaching its highest levels since early January.
Markiplier, who boasts over 38.9 million YouTube subscribers, recently expanded into film production, notably producing the low-budget horror film "Iron Lung." His use of GoPro cameras during filming and interest in the company's new "cinema camera" reportedly sparked his investment.
While Fischbach does not hold a management position, his investment has revitalized interest in GPRO shares, particularly among retail investors. Crucially, the share price surge has moved GoPro's stock above the $1 minimum threshold required by Nasdaq, averting a potential delisting.
GoPro has faced challenges from increased competition, including smartphones and other camera manufacturers, leading to declining revenues and a prior stock price slump. The long-term impact of Markiplier's investment on the company's performance remains to be seen.