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Shares of Gitlab (NASDAQ: GTLB) pulled back today after the software development company got an analyst downgrade and seemed to respond to weakness in some tech stock peers.
The stock closed down 15.6%.
Gitlab, which operates a DevOps platform that helps organizations increase their return on software development, got downgraded by JPMorgan Chase today. Analyst Pinjalim Bora took over coverage and lowered the bank's rating on the stock from overweight (meaning: buy) to neutral.