Why GitLab Stock Slumped by Nearly 5% on Monday
A bearish note in an otherwise bullish industry research report led to a bit of an investor sell-off in GitLab (NASDAQ: GTLB) stock on Monday. The specialized tech company's shares took a nearly 5% hit as a result, on a day when the S&P 500 index basically traded sideways.That report, published in the morning and authored by RBC Capital analyst Matthew Hedberg, was an update of notable software stocks in advance of scheduled quarterly earnings reports from companies in the segment. According to reports, Hedberg pointed out that such titles did quite well, on the back of quarterly reports that were published relatively early in the current earnings season. The fundamentals of more than a few of those companies topped analyst expectations and provided a refuge for investors spooked about the potential of American tariffs on a range of other industries and businesses.Continue reading
A bearish note in an otherwise bullish industry research report led to a bit of an investor sell-off in GitLab (NASDAQ: GTLB) stock on Monday. The specialized tech company's shares took a nearly 5% hit as a result, on a day when the S&P 500 index basically traded sideways.
That report, published in the morning and authored by RBC Capital analyst Matthew Hedberg, was an update of notable software stocks in advance of scheduled quarterly earnings reports from companies in the segment.
According to reports, Hedberg pointed out that such titles did quite well, on the back of quarterly reports that were published relatively early in the current earnings season. The fundamentals of more than a few of those companies topped analyst expectations and provided a refuge for investors spooked about the potential of American tariffs on a range of other industries and businesses.
