Diamonds and Dogs
Seagate Technology (STX) jumping 6% on a rumored investment in the digital currency, Ripple. The tech firm invested in two of Ripple's fundraising rounds, according to statements on the cryptocurrency company's website, though it's unclear whether it still has a stake. A Seagate spokeswoman didn't immediately respond to a message seeking comment. A couple analysts came out and downplayed the investment, but that hasn't stopped investors from pushing the stock higher.
GoPro (GPRO) is going lower. The action camera company is down 14% to a new low as the company is reducing guidance and taking a charge of $80 million to reduce expenses and its global workforce from 1,254 employees to fewer than 1,000 employees worldwide. The company is also lowering the price of their new cameras the HERO6 Black, HERO5 Black and HERO5 Session. The founder and CEO Nicholas Woodman will reduce his 2018 cash compensation to $1.