BREAKING: GoPro is up 160% in the last 2 days, including 80% today in premarket, after YouTube Markiplier disclosed an 8.5% stake, making him the largest shareholder.
Fischbach called the stock undervalued and said he wants to see GoPro turn around, and the timing lines up with the company's new Mission 1 Pro cinema camera hitting shelves tomorrow.
The stock also has 16.5% of its float sold short, which added fuel to the move as buyers rushed in.
Despite the surge, GoPro's fundamentals remain rough.
Revenue fell 31.3% year over year last quarter, and the company has disclosed doubts about its ability to continue as a going concern.