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Alright, this one's wild. GPRO closed at $1.69 today, up 37% on the session. Hit $1.79 at the high, opened around $1.18. Volume was massive – well over 250M shares. In three sessions, this thing went from the $0.60s to a multi-day runner.
Overnight is showing around $1.88, up another 11% – momentum is still carrying.
Here's the GEX setup:
Put Wall $1.5, Call Wall $1.5 (both at the same level), gamma flip not clearly shown but looks higher. We're trading well above the wall – positive gamma now. [GEX? Never heard of it? Here ya go](https://www.moomoo.com/us/learn/detail-gamma-exposure-gex-understanding-dealer-hedging-flows-and-key-levels-107906-260473079?global_content=%7B%22promote_content%22:%2211067213%22,%22promote_id%22:20795,%22promote_type%22:43,%22sub_promote_id%22:1%7D)
Technically, we blew past the upper Bollinger band ($1.25). RSI probably in the 80s – extremely overbought. MACD vertical. This is pure momentum.
The fundamental headline is the Starman Optical merger. GoPro shareholders are slated to get about $285M in cash, or roughly $1.14 per share, and keep around 10% of the combined company. The pitch is a pivot from a struggling camera business into optics, photonics, AI infrastructure, defense, and aerospace.
That's why the tape and the deal terms don't match. Cash consideration is about $1.14. The stock is already trading well above that. The extra premium is the residual 10% stub plus a short-squeeze bid. Short interest has been meaningful, and options activity has been loud.
Short-term, $1.80-2.00 is the first extension zone – overnight already poked it. $1.50-1.60 is first support if this cools off. The $1.14 cash number is the deal anchor, not a guaranteed floor while the vote is open.
I will say this is a high-risk event name, not a clean turnaround. Size it like a lottery ticket, not a core holding, but curious what you guys think?