GoPro (GPRO) Goes from Momentum Trade to Battleground Stock

GoPro (NASDAQ: GPRO) pared gains Thursday, turning red in late-morning trading after trading higher earlier in the session. GoPro's IPO priced at $24, but with shares now trading above $40, some traders are taking the other side and shorting the stock - those that can find shares to short, that is.

WSJ noted yesterday that the percentage of shares available to loan is near 100% and the cost of borrowing is high. The CBOE plans to list options on GoPro for trading beginning on Monday, July 7, which will provide investors additional trading options.

Regardless of which direction GPRO moves form here, one thing is for sure, it has quickly made a name for itself as a battleground stock.

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