Why GitLab Shares Are Trading Higher By Over 16%; Here Are 20 Stocks Moving Premarket

Author: Lisa Levin | December 05, 2023 10:04am

Shares of GitLab Inc. (NASDAQ:GTLB) rose sharply in pre-market trading after the company posted better-than-expected results for its third quarter and issued a strong forecast for FY24.

GitLab posted earnings of nine cents per share, exceeding the Street's estimate of losses of one cent per share. Quarterly sales of $149.70 million clocked in above analyst expectations of $141.49 million, according to Benzinga Pro.

The company said it sees full-year 2024 earnings to be between 12 cents and 13 cents per share, versus the estimate of losses of six cents. Full-year revenue is expected to be between $573 million and $574 million, versus the $558.14 million estimate.

GitLab shares gained 16.4% to $61.63 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

• Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR) shares gained 62.5% to $0.46 in pre-market trading after falling over 12% on Monday.
• Meta Materials Inc. (NASDAQ:MMAT) shares rose 52.7% to $0.1068 in pre-market trading. Meta Materials shares fell 36% on Monday after the company announced a $6 million registered direct offering.
• NeuroSense Therapeutics Ltd. (NASDAQ:NRSN) rose 38.9% to $2.07 in pre-market trading. NeuroSense will report new data from randomized, placebo-controlled, double-blind segment of Phase 2b PARADIGM ALS trial on Dec. 5.
• Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) shares surged 37.8% to $0.2611 in pre-market trading after gaining 12% on Monday. The company, last month, posted weak quarterly results.
• Nxu, Inc. (NASDAQ:NXU) gained 32.2% to $0.0361 in pre-market trading after gaining 29% on Monday.
• Universal Security Instruments, Inc. (NYSE:UUU) shares rose 14.2% to $2.49 in pre-market trading. Universal Security, last month, posted a loss for the second quarter.
• Esports Entertainment Group, Inc. (NASDAQ:GMBL) shares rose 13.4% to $0.0211 in pre-market trading.
• Nexalin Technology, Inc. (NASDAQ:NXL) gained 12.1% to $0.49 in pre-market trading.
• Inovio Pharmaceuticals, Inc. (NASDAQ:INO) shares climbed 11.4% to $0.4510 in pre-market trading. Inovio Pharmaceuticals, last month, posted in-line loss for the third quarter.

Losers

• Alterity Therapeutics Limited (NASDAQ:ATHE) dipped 21.2% to $3.31 in pre-market trading. Alterity Therapeutics will host webcast to discuss ATH434 efficacy data in primates and recent clinical progress on Tuesday, Dec. 5 in the US.
• SilverSun Technologies, Inc. (NASDAQ:SSNT) shares fell 21.1% to $9.86 in pre-market trading after jumping 240% on Monday. SilverSun Technologies announced Jacobs Private Equity II and minority co-investors will invest $1 billion in the company.
• GRI Bio, Inc. (NASDAQ:GRI) shares fell 17.7% to $0.6070 in pre-market trading. GRI Bio recently announced FDA clearance of IND for lead program GRI-0621, a Type 1 invariant NKT antagonist for the treatment of idiopathic pulmonary fibrosis.
• Lucy Scientific Discovery Inc. (NASDAQ:LSDI) shares fell 17.2% to $0.2830 in pre-market trading after gaining over 66% on Monday.
• iBio, Inc. (NYSE:IBIO) shares fell 15.2% to $2.29 in pre-market trading after declining 10% on Monday. iBio recently approved a 20-to-1 reverse stock split of its common stock.
• Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX) fell 14.5% to $0.38 in pre-market after surging 12% on Monday. Virpax Pharmaceuticals recently appointed Gerald Bruce as CEO and Eric Floyd as Chairman.
• Minim, Inc. (NASDAQ:MINM) fell 13.2% to $3.30 in pre-market trading after jumping 19% on Monday.
• Taoping Inc. (NASDAQ:TAOP) fell 12.8% to $1.42 in pre-market trading after gaining more than 10% on Monday.
• JOANN Inc. (NASDAQ:JOAN) shares fell 11.6% to $0.7870 in pre-market trading after the company reported third-quarter earnings.
• Sphere 3D Corp. (NASDAQ:ANY) fell 9.3% to $0.9701 in pre-market trading after jumping over 33% on Monday.

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