Shares of GitLab Inc. (GTLB), a provider of cloud-based software development tools, were rising more than 14 percent in pre-market on Wednesday after Reuters reported that the Google-backed company is exploring a sale.
GitLab, with market value of about $8 billion is working with investment bankers on a sale process, the reports said citing people familiar with the matter.
GitLab stock had closed at $50.66, up 4.54 percent on Tuesday. It has traded in the range of $40.19 - $78.53 in the last 1 year.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.