Git Some of This! Why Gitlabs (GTLB) is a Hot Stock Today

What's hot? What's not? We took the market's temperature so you don't have to. Here's what we're watching RN:

Symbol: DJIA 🔥 

Price: 40,974.97

Change: +38.04

% Change: +0.09

Symbol: Nasdaq  🥶

Price: 17,084.30

Change: -52.00

% Change: -0.30

Symbol: S&P 500 🥶

Price: 5,520.07

Change: -8.86

% Change: -0.16

* As of market close yesterday

🔥 HOT: Online version control and devops software company GitLab (NASDAQ: GTLB) gained 21.6% on Wednesday after a solid earnings report. The company’s second-quarter EPS was 51.38% higher than the consensus estimate, and its quarterly revenue was $5.7 million higher than expected. Wells Fargo, Scotiabank, and UBS all upgraded their ratings for GTLB, and UBS raised its price target for the stock from $62 to $65 per share.

🥶 NOT: Water management and fire protection product company Core & Main (NYSE: CNM) lost 15.8% on Wednesday after an abysmal earnings report. The company’s second-quarter EPS was just $0.61, while analysts expected $0.74. Its revenue numbers weren’t much better, falling $90 million short of consensus estimates. Wednesday’s drop wiped out all of the stock’s gains this year, leaving CNM down 1.9% YTD.

🔥 HOT: Non-lethal self-defense product manufacturer Byrna (NASDAQ: BYRN) saw a 38.2% gain on Wednesday after it reported third-quarter revenue of $20.8 million. The company’s revenue uptick was due to both direct-to-consumer sales and sales to dealers, which investors view as a good sign for the company’s long-term growth. Wednesday’s gain leaves the stock up 135.9% YTD.

🥶 NOT: Productivity tool maker Asana (NYSE: ASAN) lost 5.1% on Wednesday despite a solid second-quarter earnings report. The company issued weak guidance for the third quarter, and investors are concerned about competition from monday.com and Asana’s continued inability to turn a profit. ASAN closed on Wednesday down 32.4% YTD.

More hot stuff before we go:

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