GitLab stock pops 35% on first day of trading after IPO
GitLab Inc. shares surged in their trading debut Thursday, closing up 35% higher than the DevOps software company’s initial public offering price.
Late Wednesday, GitLab priced its stock at $77 a share, well above its already elevated range. On Tuesday, GitLab hiked its expected pricing range to between $66 and $69 a share, up from a forecast last week of $55 to $60 a share. Wednesday’s pricing values the company at $11 billion, based on 143 million shares expected to be outstanding after the offering.
Read: GitLab IPO: 5 things to know about the all-remote software company valued at $11 billion
The IPO has been in the works for a little more than a year. In fact, GitLab Chief Financial Officer Brian Robins, who’s only been with the …
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