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GoPro Soars After YouTube Creator Discloses Stake; Sono Group Jumps on Sports Deal
GoPro (GPRO) and Sono Group (SSM) shares experienced massive premarket rallies on Tuesday, driven by a major new investor and a strategic merger, respectively. The moves came even as broader market futures pointed to a lower open for U.S. stock indices.
GoPro's Influencer-Driven Rally
Shares of action-camera maker GoPro surged over 82% in premarket trading after a regulatory filing revealed a significant new shareholder. Bloomberg first reported that YouTube creator Mark Fischbach, known as Markiplier, disclosed an 8.5% stake in the company through a Schedule 13G filing.
The disclosure makes Fischbach, who has nearly 40 million subscribers, the company’s largest individual shareholder. In comments that appeared to ignite a wave of retail buying, he called the stock undervalued and stated he wants to see the company turn around.
Sono Group Pivots to Sports
Sono Group saw its stock jump about 55% after announcing a non-binding letter of intent to combine with the privately held Sports One. The proposed deal would transform Sono Group into a publicly traded company focused on acquiring minority stakes in major professional sports franchises.
AdThe combined entity, to be renamed Sports One, will target teams in the NFL, NBA, MLB, and NHL. This marks a complete strategic pivot for Sono Group, which previously operated as a digital asset treasury company.
Analyst Upgrades Boost Other Movers
Several other stocks saw notable premarket activity following positive analyst commentary:
- Robinhood (HOOD): Shares rose 2.6% after Morgan Stanley upgraded the stock to "Overweight" from "Equal-weight." The bank raised its price target to $150, citing catalysts like organic asset growth and an expanding product set.
- Duolingo (DUOL): The language-learning app's stock climbed 3.8% after Evercore ISI upgraded it to "Outperform" and doubled its price target to $210, pointing to a strong long-term earnings outlook.
- Novartis (NVS): The pharmaceutical giant's shares gained nearly 4% following a positive late-stage trial readout for its multiple sclerosis candidate, remibrutinib.
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