GoPro stock soars despite huge market selloff
Shares of GoPro Inc. soared as much as 16% on Monday, bucking a huge market selloff. The rally is extended from news late Friday that the company struck a patent licensing agreement with Microsoft Corp. . The two were very secretive about the details of the partnership, saying only that the deal includes "certain file storage and other system technologies." The rest of it has been deemed confidential. Shares of GoPro are still down 55% over the last three months and 76% on the year. They traded around $11.44 in early-afternoon trade. Shares of Microsoft fell 2.1% to $49.07 in afternoon trade. The Dow Jones Industrial Average was down 300 points.
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