At the crack of dawn, U.S. stock futures were dim, as the Dow trudged lower by around 50 points on Monday.
In today’s pre-market hustle, the symbol of resilience, GitLab Inc.’s GTLB, stumbled after sharing a bitter earnings prophecy that fell short of anticipations.
For the quarter, GitLab boasted earnings of 15 cents per share – triumphing over the analysts’ consensus pegged at 8 cents. Sales for the period stood at $163.78 million, outshining the analyst consensus of $158.21 million.
However, the company’s fiscal year 2025 earnings per share are poised between 19 and 23 cents – a far cry from the market’s 35-cent estimate.
As the bell tolled, GitLab shares swooned 22.4% to $57.80 in early trading, portraying a harrowing descent in fortune.
Meanwhile, the stock market canvas also featured other gloomy strokes:
- Stitch Fix, Inc. SFIX witnessed a 14.5% decline to $2.80 before opening bell, following a disappointing second-quarter financial performance and a dismal revenue outlook for FY24.
- Semrush Holdings, Inc. SEMR tumbled 13.9% to $11.19 in the pre-market activities post the release of its fourth-quarter fiscal results.
- MicroStrategy Incorporated MSTR faced an 11.7% downturn to $1,178.00 at dawn, after announcing a potential private offering of convertible senior notes worth $600 million.
- Ethereal Tech PTE. Ltd FUFU experienced an 11.4% slump to $11.62 early on, amidst tumult following its recent corporate marriage with Arisz Acquisition Corp and Nasdaq debut.
- CleanSpark, Inc. CLSK saw a 9.5% fall to $14.90 before the day’s business commenced, following an 8% slide on the prior day.
- Albemarle Corporation ALB descended 8.2% to $122.08 before the sunrise, as the company unveiled plans for a public offering of depositary shares.
- Marathon Digital Holdings, Inc. MARA slid 7.4% to $23.82 in the pre-market hours, continuing its 5% dip from the previous day.
- Super Micro Computer, Inc. SMCI retreated 4.5% to $1,026.09 before the sun rose, after a notable 18% leap on Monday spurred by the news of its imminent inclusion in the S&P 500 index.
Oh, the stock market symphony conducted its sorrowful tune, setting the stage for a day full of market discord and contemplation.
Venture further: Fear & Greed Index Remains In ‘Extreme Greed’ Zone; S&P 500 Falls From Record High.
As you lace up your trading boots, don’t miss out on our premarket rundown.
