• GPRO plans to go after aerospace and defense customers as part of a new strategy.
• The company expects to showcase new cameras with enhanced capabilities at an upcoming trade show.
• Jobs were slashed across the board recently to save costs and offset weak fundamentals.

Shares of GoPro (GPRO) rallied nearly 20% in the early premarket session on Tuesday, after gaining by a similar degree in the previous session, as investors traded on the company’s plan to explore opportunities in the defense and aerospace sector.

Companies operating in the defense and aerospace sector – from drone and missile makers to satellite and aerial imaging firms – are drawing significant interest due to the ongoing U.S. military operations in Iran.

If gains hold in the regular session, it would be only the second time since September 2025 that GPRO rose by over 20%.

GPRO's Aerospace Pivot

The action camera maker on Monday announced it will pursue new market opportunities in the lucrative sector and has hired the consultancy firm Oliver Wyman to shape the plan.

"The opportunity is significant and growing, with the global defense and aerospace imaging, unmanned, and related markets representing billions of dollars of addressable market," Oliver Wyman partner Timothy Wickham was quoted as saying in a GoPro press release.

GoPro highlighted the use of its cameras by astronauts aboard the Artemis II mission, as well as on the Orion spacecraft’s solar array wings. The cameras were also integrated into the spacecraft’s imaging system and used alongside other mission-supporting systems.

GPRO Riding The Success Of The Moon Mission

GoPro would aim to capitalize on the latest buzz while showcasing its new-gen cameras at the 2026 NAB Show in Las Vegas, which kicks off this Sunday.

The company claims its latest cameras will feature the new GP3 processors and larger sensors, which enable improved low-light performance and pixel processing, among other things. 

GPRO Fundamentals

GoPro is trying to revive its business by focusing on higher-margin products, shifting to a subscription-led model, and pitching its products to new sectors.

Sales at the company have declined in each of the last four years, with double-digit percentage declines in the last two, amid intense competition from rival Insta360 and drone maker DJI. Improvements in smartphone camera technology have also chipped away at the appeal of GoPro’s dedicated camera systems.

Earlier this month, GoPro's board approved a restructuring plan to cut its workforce by 23%. The company expects the restructuring to be completed by the end of this year. 

GPRO Retail Sentiment

On Stocktwits, the retail sentiment moved higher in the ‘extremely bullish’ zone. 

A trader said they expect the stock to climb to $15 in the coming days, while others forecast an imminent short squeeze. Notably, short interest in the stock has climbed from about 5.2% at the start of the year to 13.1% as of Monday. 

While GPRO stock is down more than 30% so far this year, it has climbed more than 80% over the past 12 months.

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