Courtesy of Benzinga.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
GoPro Inc (NASDAQ: GPRO) shares were trading lower by $1 at $47.39 in Monday's session. The maker of high-definition action cameras has rebounded from its morning low of $42.75.
It is one of the few issues that did not stray that far from its opening price for the session. After a sharply lower open ($43.30 vs. Friday's close of $48.39), it continued lower until it found support at $42.75 and rebounded all the way to $51.32.
The current low coincides with its April 14 low ($42.87) that was put in place on its way to its recent high for the move that was made only 10 trading sessions ago at $65.49.
Today's price action is taking place on much higher than average volume. So far, 11.2 million shares have changed hands compared to its 20-day average of 6.9 million shares approaching the close.
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