GoPro (GPRO) stock is surging 15.45% in pre-market trading on Wednesday, as part of a broader rally among retail investor favorites. The action camera maker is experiencing a significant uptick, building on its recent momentum and outpacing its own 9% gain over the previous two sessions.

The surge in GoPro's stock price appears to be driven by increased retail investor interest rather than any specific company news. This movement aligns with similar trends observed in other heavily shorted stocks popular among retail traders. Notable examples include Beyond Meat (BYND) and Krispy Kreme (DNUT), which have also posted substantial pre-market gains.

Market analysts suggest that the sharp rise in GoPro's stock price could potentially indicate a short squeeze, where investors betting against the stock are forced to buy shares to cover their positions, further driving up the price. The Roundhill MEME ETF, which tracks stocks favored by retail traders, was also up 5% in early trading, underscoring the current market sentiment towards these types of investments.

While the surge in GoPro's stock price is significant, investors should exercise caution. Stocks experiencing such rapid gains can be highly volatile and subject to quick reversals. As always, it's advisable for investors to conduct thorough research and consider their risk tolerance before making investment decisions in this dynamic market environment.