Markiplier has disclosed a 13.5 million-share investment in GoPro, and the camera company’s stock exploded higher once Wall Street caught up with a filing that had already been sitting in the public record for more than a week.
The YouTube creator and filmmaker, whose legal name is Mark Edward Fischbach, reported beneficial ownership of 13.5 million GoPro Class A shares in an SEC Schedule 13G. That represents 8.5% of GoPro’s Class A common stock, with Fischbach reporting sole voting and dispositive power over the entire position.
GoPro closed Monday, Aug. 31, at $0.8762, up 46.06% for the regular session. The rally continued after the bell, with shares reaching roughly $1.37, and they were sharply higher again in early Tuesday premarket trading.
The investment also gives new context to a video Fischbach published Aug. 27 praising GoPro’s $699.99 Mission 1 Pro ILS and saying he plans to use the interchangeable-lens camera extensively in future movies. His ownership had already been disclosed to the SEC by then, but the review did not mention the stake, according to The Verge.
The Filing Covers 8.5% of GoPro’s Class A Shares, Not the Entire Company
Fischbach’s Schedule 13G gives July 13 as the date of the event requiring disclosure and Aug. 20 as the filing date. It identifies him as the beneficial owner of exactly 13.5 million Class A shares and certifies that the investment was not acquired for the purpose of changing or influencing control of GoPro.
GoPro has more than one class of stock. Fischbach’s 8.5% figure applies specifically to Class A common stock rather than 8.5% of all GoPro shares or voting power. GoPro’s April proxy showed founder and CEO Nicholas Woodman with approximately 1.9 million Class A shares and more than 25 million Class B shares, which carry 10 votes apiece. At that point, Woodman controlled approximately 63% of the company’s total voting power. The same proxy listed investor William George Brumder II with approximately 12.85 million Class A shares.
His GoPro Review Came Seven Days After the SEC Filing
Fischbach uploaded “$700 vs $7000 Camera | GoPro Mission 1 ILS Review” on Aug. 27, comparing the new GoPro with the RED Komodo-X he used while making Iron Lung. He praised the Mission 1 Pro ILS as an unusually affordable route into cinema-quality production and said he expected to use it extensively in future films.
The Verge reported that the video includes an affiliate code for the camera but that it did not find a mention of Fischbach’s ownership in either the video or its caption. Tubefilter separately reported that GoPro had provided him with the camera and agreed to sponsor his channel after months of outreach.
Speaking to Bloomberg about why he invested, Fischbach said the stock “seems undervalued” and connected his interest in GoPro to a larger goal of making filmmaking equipment accessible to creators who cannot spend thousands of dollars on conventional cinema cameras. Fischbach did not use the review to encourage viewers to buy GoPro shares.
GoPro Is Betting on a $699 Cinema Camera During a Difficult Year
GoPro formally launched preorders for the Mission 1 Pro ILS on Aug. 26 at a $699.99 suggested retail price. The compact camera pairs a 50-megapixel one-inch sensor with a Micro Four Thirds interchangeable-lens mount and supports video up to 8K60 and 4K240.
The new product arrives while GoPro is dealing with much larger financial problems. The company reported second-quarter revenue of $105 million, down 31% from a year earlier, while camera sell-through fell 38% to approximately 291,000 units. Its GAAP net loss widened to $51 million.
There were some brighter spots in the quarter. Subscription and service revenue rose 11% to $29 million, and GoPro said its subscriber attachment rate reached a record 69%. The company also said it was continuing a strategic review aimed at maximizing shareholder value.
GoPro received a Nasdaq deficiency notice on July 21 after its Class A stock traded below the exchange’s $1 minimum bid price for 30 consecutive business days. Monday’s 46% rally still left the regular-session close below that threshold, although the stock moved above $1 after hours. Under Nasdaq’s rules, GoPro must maintain a closing bid of at least $1 for a minimum of 10 consecutive business days to regain compliance.