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GoPro chart surges 5 percent on buyout rumors

Rumors Circulating This Company Could Be Bought

I’m hearing rumors that this company could be bought by the Chinese.

GoPro Inc (GPRO) shares closed up 5% on Thursday, April 12, 2018, on rumors circulating that a potential buyout could come from a major Chinese company.

The rumor is that Xiaomi Corp. is thinking about making an offer for GoPro. GoPro CEO Nick Woodman hired investment bank JPMorgan Chase & Co. to advise it on the terms of a potential sale.

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This is a buy on rumor play only as the company’s financials look pretty bad.

GoPro Chart

GoPro chart surges 5 percent on buyout rumors

The rising large players volume looks good. The technicals though don’t really matter as this is a high risk buy on rumor play.

I’m not in a risk-on mood right now so personally, I’m not going to buy this stock and play the buyout rumors, but I did want to make you aware in case you decide to play it.

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Market is fairly valued.