Shares of GoPro Inc ( GPRO ) are continuing their remarkable ascent on Wednesday, caught in a wave of renewed meme stock enthusiasm among retail investors.

The action camera maker’s stock saw a massive rally Tuesday and has maintained its momentum, pushing its market capitalization past $250 million.

What To Know: The current rally appears to be a classic short squeeze scenario. With a short interest of 9.43%, a surge in buying pressure can force bearish investors to buy back shares to cover their positions, fueling further price increases.

The stock's Relative Strength Index has soared to 88, a level indicating heavily overbought conditions which can signal a potential future pullback. The current days-to-cover ratio, a metric indicating how long it would take short sellers to exit their positions, stands at 2.13.

This momentum began late Tuesday when GPRO skyrocketed nearly 60% in after-hours trading. While the primary driver is the meme stock phenomenon reminiscent of past GameStop and AMC Entertainment rallies, positive company news has provided a supportive backdrop for investors.

GoPro ( GPRO ) recently won an initial ruling in a patent infringement case and provided an optimistic second-quarter financial outlook in May, projecting sales and earnings above Wall Street expectations. The convergence of retail fervor and improving fundamentals has likely created a perfect storm for the stock’s recent volatility.

Price Action: According to data from Benzinga Pro, GPRO shares are trading higher by 16.4% to $1.63 during Wednesday’s session. The stock has a 52-week high of $2.37 and a 52-week low of $0.40.

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How To Buy GPRO Stock

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like GoPro ( GPRO )‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. GoPro ( GPRO ) does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 10.44%, you'll need to buy a share of Lazard Glb Total Return by the Aug. 11, 2025. Once done, you can expect to receive a nominal payout of $0.15 on Aug. 22, 2025.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on GoPro ( GPRO ) will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

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