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Why GitLab Stock Is Plummeting Today

TheMotleyFool

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Why GitLab Stock Is Plummeting TodayPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/ee32e77c-b7d6-424b-91ea-4023f2292688.png

GitLab (NASDAQ: GTLB) stock is sinking in Wednesday's trading following the company's recent quarterly report. The software development specialist's share price was down 7.7% as of 10:30 a.m. ET. The stock had been down as much as 14.3% earlier in trading.

After the market closed yesterday, GitLab published results for the first quarter of its 2026 fiscal year -- a period that wrapped at the end of April. The company reported sales and earnings that beat Wall Street's expectations, but investors are seeing some signs in the quarterly results and forward guidance that are weakening confidence in the stock.

Image source: Getty Images.

Source Fool.com

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