GoPro announced a new camera and now the stock is soaring

GoPro shares jumped as much as 7% on Monday after the company announced a new camera.

The GoPro Hero+ LCD is a touchscreen camera that’s only its second offering to feature a built-in screen, according to CNET.

Last Thursday, GoPro shares rallied by up to 7% after CEO Nick Woodman announced that the company is developing a a six-camera virtual-reality recording system and a drone.

Analysts noted that the two offerings could add as much as $US475 million in sales in the coming financial year.

GoPro is up 89% over the past 12 months, and down 6% year-to-date. Analysts blamed the recent weakness on concerns that competition is mounting in the point-of-view camera space.

The new camera is priced at $US299 and will go on sale in the US from June 6, according to the company. It features built-in WiFi and Bluetooth, can record 1080p60 video, and boasts up to two hours of recording time.

Here’s a chart showing the rally in shares on Monday:

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