Trending tickers: GoPro, Nissan, Tilray Brands, Bunzl and British American Tobacco

Shares in action camera maker GoPro (GPRO) surged more than 36% on Monday, with the stock up a further 3% in pre-market trading on Tuesday.

The stock recently became an addition to a new batch of meme stocks in a resurgence of the trend. Online real estate service Opendoor Technologies (OPEN), doughnut chain Krispy Kreme (DNUT) and department store Kohl’s (KSS) were also part of this latest class of meme stocks.

Retail investors piling into the stock have helped drive a 51% gain in GoPro shares year-to-date, though the stock did dip following the release of the company’s second-quarter results earlier in August.

GoPro posted an 18% fall in revenue year-on-year to $153m (£113m) and a net loss of $12m, though this was lower than the $36m net loss the company reported for the same quarter last year.

Shares in Nissan (7201.T) slumped more than 6% on Tuesday, following reports that the pension trust of Germany’s Mercedes-Benz (MBG.DE) had sold its entire shareholding in the Japanese carmaker.

Reuters reported that the pension trust had sold its stake for 47.83 billion yen ($326m), citing a source with direct knowledge of the matter.

Spokespeople for Mercedes-Benz and Nissan had not responded to Yahoo Finance UK’s request for comment at the time of writing.

Tilray Brands (TLRY)

Shares in cannabis producer Tilray Brands (TLRY) jumped nearly 21% on Monday, and were up a further 5% in pre-market trading on Tuesday.

The rally comes after analysts at Jefferies, which has a “buy” rating on Tilray, lifted their price target on the stock from $1.50 to $2 per share, noting improving sentiment towards cannabis reclassification.

Unlimited CEO and chief investment officer Bob Elliott told Yahoo Finance on Monday: “I think we’re in a pretty important transition here in terms of cannabis being normalised essentially … after really years and years of being commercially viable, but running under the radar.

“And so, if you could start to change the economics around even the payment infrastructure, the ability to access basic services, all the different things that … a lot of these companies have been locked out on and Tilray … they frame themselves as the Coca-Cola of cannabis.”

He added that Tilray are “probably the front runners because they’ve got the scale globally to really take advantage of an opening up of the market, in a market that otherwise is highly, highly fractured.”

Story continues

On the London market, distribution and outsourcing company Bunzl (BNZL.L) was the biggest riser on the FTSE 100 (^FTSE) on Tuesday morning, with shares up more than 5%.

Shares popped despite Bunzl reporting a 10.5% fall in profit before income tax in the first half to £300.5m ($405.2m). The company highlighted that it had announced five acquisitions year-to-date and that its “pipeline remains active”.

In addition, Bunzl resumed its share buybacks with the intention of completing the remaining £86m of its previously announced £20m 2025 share buyback programme in the second half of the year.

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Adam Vettese, a market analyst at eToro, said: “Bunzl’s half year performance reflects a business currently contending with a challenging operating environment. Despite revenue rising 4.2% at constant currency driven by acquisitions, underlying growth remains broadly flat.

“The headline operating margin declined from 8% down to 7% as execution headwinds in North America and cost pressures in continental Europe weighed on profitability.

“Despite this, Bunzl has taken decisive steps to drive improvement, including leadership changes, cost savings, and a focus on higher-margin own brand products, with early indicators of progress already showing through.”

British American Tobacco (BATS.L)

Shares in British American Tobacco dipped 1% on Tuesday, after the company announced that Soraya Benchikh would be stepping down from her role as chief financial officer.

The company said a recruitment process to identify a permanent successor to the role of CFO is being launched but that Javed Iqbal, the director for digital and information, will take on the role of interim CFO.

Tadeu Marroco, CEO of BAT, said: “Soraya has made a significant contribution to BAT, having worked in various roles within the group over many years. On behalf of the board, I would like to thank Soraya for her contribution, most recently in her role as CFO since rejoining the group in May 2024. We wish her all the best with her future plans.

“As we set out at our recent results, our performance in the first half of the year was slightly ahead of our expectations, and we are firmly on track to deliver our full year guidance. With the right strategy we intend to continue to deliver on the profitable transformation of BAT, reflected in our stated ambitions for 2026 and beyond. We will update on our continued progress in our pre-close trading update in December.”

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