GoPro Zooms 34% Higher on Starman Optical Merger and Markiplier Stake; Coherent Climbs 7%, Lumentum Gains 3%
Article excerpt
GoPro is surging on a merger that turns a camera company into an optical-transceiver play, and a famous YouTuber just became its largest individual shareholder. Here is what the move actually means against a backdrop of proven incumbents already delivering… Market Movers desk. Editor: David Moadel. This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Optical-photonics stocks are running Friday morning, along with a stock that’s commonly associated with cameras and accessories, even as broad benchmarks slip. Notably, the SPDR S&P 500 ETF Trust ( NYSEARCA:SPY ) is down 0.33% to $770.59, and the NASDAQ 100 tracking Invesco QQQ Trust ( NASDAQ:QQQ ) is essentially flat at $718.38. GoPro ( NASDAQ:GPRO ) stock is up 34% to $1.86, extending a rerating that began Monday on the company’s Starman Optical merger news. Meanwhile, Coherent ( NYSE:COHR | COHR Price Prediction ) stock is up 7% to $282.45, giving the AI-connectivity theme a listed anchor with real datacenter revenue behind it. Lumentum Holdings ( NASDAQ:LITE ) stock is up 3% to $876.92, rounding out the incumbent optical set with a comparatively milder session gain. The category itself is bid up today, and GoPro’s move is continuation of a deal already in the tape. The transaction was disclosed earlier in the week, so today’s flow is...
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Revenue reached $1.01 billion, up 109.3% YoY, with non-GAAP EPS of $3.23 and a non-GAAP operating margin of 36.6%.
