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GoPro Inc (NASDAQ:GPRO) said on Tuesday it has agreed to merge with optical-photonics company Starman Optical in a $285 million recapitalization deal that will see Starman acquire a 90% stake in the combined business. Under the terms of the deal, GoPro shareholders will receive about $1.14 per share in cash and retain roughly 10% of the combined company.

GoPro (NASDAQ:GPRO) is having the kind of rally traders live for, and a viral stock pick is only half the story — the other half is a short base that had nowhere to hide.

GoPro Inc (NASDAQ:GPRO) stock is up 72.3% at $1.51, extending its two-day surge after Markiplier disclosed an 8.5% stake worth $9 million.

Shares of GoPro Inc. (NASDAQ:GPRO) are surging during premarket trading on Tuesday as retail traders and momentum investors pile into the action-camera maker following SEC filings revealing a new major individual shareholder.

Merger to Recapitalize and Reposition GoPro; Company to Remain Publicly Listed on Nasdaq Transaction Expected to Add U.S. Onshore Optical Transceiver Business, Positioning GoPro to Expand into AI Data Center, Government, Defense and Aerospace Markets GoPro to Continue Supporting its Existing Consumer Products and its Subscription and Cloud Platform While Investing in Growth NEW YORK and SAN MATEO, Calif., Sept. 1,…