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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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.