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Top trader Najarian: Buy GoPro into the plunge

A GoPro Hero4 camera
Getty Images
A GoPro Hero4 camera

CNBC "Halftime Report" trader Jon Najarian bought shares of GoPro in his model portfolio Thursday on the belief the company could be a takeover target.

Shares of the manufacturer of action cameras are down 74 percent since reaching a record price of $98.47 in October, after investors fled due to disappointing sales and profits.

As the stock approaches its IPO price of $24 a share set in June 2014, Najarian speculates this volatile name may land on its feet, following a potential deal.