Gopro (GPRO) recently went public amid plenty of media coverage. Let's face it, the company has cool products and all the great action photos and videos users have captured excited everyone who likes to use a camera. The IPOD was priced at 24, it opened at 28 and climbed all the way to around 40 the first day of trading. I hope this got your attention. It did mine. I waited for the expected downswing the next morning and grabbed some shares at 36. The I waited, it took all day to gain a few cents. Was I worried I made a mistake. No really. Volume had not dropped and the price was holding and remember all that media hype. Here is the key. media hype!
The next morning the price shot up to 48 and I cashed out for abetter than 30 percent gain in three days. This morning the price is down 3. It might drop further or it might go higher but I don't care, I already rode this horse. Here is another key, don't get greedy!
GoPro doesn't make the only camera like this, they may make the neatest camera mounts. I expect the media hype will cool and people who came to the party late will get struck with the tab.
This was the perfect IPO for common sense investors though. Cool product, plenty of media hype, big opening day run up. I can hardly wait for the next one although they don't happen often. Just remember to wait for the first drop and then get out fast when you have a nice gain. If you get greedy you might get burned.