GoPro (GPRO) shares rallied as much as 70% on Wednesday morning as retail investors on online forums, including Reddit, lit up with enthusiasm for the struggling camera brand. Meme stock enthusiasts went after GPRO this morning as nearly 10% of its float was sold short heading into today.

Shares of action camera company GoPro (NASDAQ:GPRO) jumped 19.8% in the afternoon session after the company became one of the latest companies caught up in a "meme stock" rally.

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Why It Matters: GoPro’s recent stock value surge is indicative of the impact of legal rulings and financial performance on investor sentiment. The company’s ability to secure favorable legal outcomes and exceed financial expectations. The increase in stock of the company demonstrates the importance of these factors in the stock market.

The GoPro Hero 13 Black is originally sold for $430, but you can currently get the action camera at a discounted price of $329 from Amazon.

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Summer is historically the hottest season of the year for GoPro sales as consumers gear up to capture memories from vacations. What’s unexpected this year is Amazon’s decision to drop the brand-new GoPro HERO13 Black to a record low. It is now available for just $329, down from its regular list price of $429.

Knowing what's in the ocean can fuel fear, so if you're afraid of the ocean maybe that can be explained by seeing footage from a GoPro thrown off a ship