GoPro Stock Has Doubled From Its IPO Price

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GoPro's CEO Nick Woodman holds a GoPro camera in his mouth as he celebrates his company's IPO at the Nasdaq MarketSite in New York, Thursday, June 26, 2014.

Image: Seth Wenig/Associated Press

By Seth Fiegerman2014-07-01 15:16:44 UTC

GoPro's stock keeps going up.

GoPro hit $48 a share in early trading Tuesday, a gain of 18% on the day and double its IPO price from less than a week earlier.

See also: 15 Terrifying GoPro Videos to Make Your Heart Skip

The wearable camera maker went public on Thursday at $24 a share and ended the day up more than 30% at $31.34 a share. The company's stock has experienced double-digit percentage gains in each trading day since then.

GPRO Price data by YCharts

Charlie Anderson, an analyst with Dougherty & Co., rated GoPro's stock a buy shortly before it went public, citing the value of its brand and its potential to become more of a media company.

GoPro generated nearly $1 billion in revenue for 2013, up from about $526 million the year before, and the company is profitable. However, GoPro is not without risks. The company noted in its S-1 filing that it faces potential competition on the hardware front and that it may not be able to pull off its media ambitions.

Topics: Business, gopro, stocks