Shares of GoPro (NASDAQ: GPRO) soared as much as 18.2% before giving back some of those gains to trade up around 8% as of 3:30 p.m. EDT Friday. The move came on heavy trading volume despite a lack of company-specific news, even with the broader market down today -- the Nasdaq index is off 1.4% as of this writing -- on reports that President Trump is considering whether to restrict investments in Chinese equities.
To be clear, any news on China trade shouldn't positively influence GoPro. The company already told investors late last month that Chinese tariffs are not expected to impact its second-half 2019 performance, primarily as it moved the majority of its U.S.-bound camera production to Mexico in June.
GoPro's HERO7 line of cameras were launched in September 2018. Image source: GoPro.