Gitlab is trading 5% down at $31.79 in pre-market trading, giving back part of yesterday’s rebound as the software sector faces broad selling pressure.
- The decline comes despite no new company-specific headlines, with the stock instead sliding alongside the IGV ETF, which is down roughly 3.5%.
- Broader tech sentiment is being weighed down by an Apple downgrade and pressure on richly valued software and AI-related names.