Why GoPro Stock Surged by 5% on Wednesday
The combination of a broad meme stock rally and the introduction of a new set of products made (NASDAQ: GPRO) a popular stock on Wednesday. With those tailwinds, shares of the action camera and accessories purveyor jumped almost 5% higher, on a day when the S 500 (SNPINDEX: ^GSPC) was hit with a 0.5% sell-off.
While not all meme stocks are created equal, they can move more or less in tandem. Fortunately for GoPro, that momentum is positive just now. Much of this has to do with recent news from fellow meme title Beyond Meat, which has seen its share price rocket higher in recent days.
Image source: Getty Images.
Source Fool.com
