June 26, 2014 12:10 pm

GoPro shares jump nearly 30 per cent in stock market debut

WATCH: GoPro celebrates IPO by ringing opening bell on NASDAQ

NEW YORK – Shares of GoPro Inc. are up nearly 30 per cent in early trading in their stock market debut.

The company makes wearable sports cameras that are used by skydivers, surfers and other extreme sports fans to film themselves or create first-person videos that capture the experience as they saw it.

The cameras, which are light and waterproof, cost between $200 and $400.

READ MORE: GoPro gears up for IPO as wearable tech race heats up

GoPro raised $427 million after selling 17.8 million shares at $24 each, valuing the whole company at about $3 billion.

Its shares are up $7, or 29 per cent, to $31 in morning trading after rising as high as $33 earlier. GoPro shares are trading on the Nasdaq stock exchange under the symbol “GPRO.”

The San Mateo, California, company plans to use the money raised to pay down debt.

© The Canadian Press, 2014

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