NEW YORK, N.Y. - Shares of GoPro Inc. are up nearly 30 per cent in early trading in their stock market debut.
The company makes wearable sports cameras that are used by skydivers, surfers and other extreme sports fans to film themselves or create first-person videos that capture the experience as they saw it.
The cameras, which are light and waterproof, cost between $200 and $400.
GoPro raised $427 million after selling 17.8 million shares at $24 each, valuing the whole company at about $3 billion.
Its shares are up $7, or 29 per cent, to $31 in morning trading after rising as high as $33 earlier. GoPro shares are trading on the Nasdaq stock exchange under the symbol "GPRO."
The San Mateo, California, company plans to use the money raised to pay down debt.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer