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