Post by @themarketstandard

YouTube creator Mark Fischbach, known as Markiplier, has become GoPro’s largest single shareholder after acquiring an 8.5% stake in the company, according to Bloomberg. The stock jumped 22% Monday on the news. GoPro, once valued near $13 billion twelve years ago, currently trades at roughly $110 million after years of layoffs and a search for buyers. Fischbach’s stake cost an estimated $9.3 million. He says he believes the company is undervalued and has used GoPro cameras extensively, including behind-the-scenes footage for his self-distributed horror film Iron Lung, which grossed over $50 million on a $3 million budget. He is not an activist shareholder. Follow for daily business and market news #markiplier #gopro #stocks #stocknews #businessnews