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GitLab shares rose more than 15% as a result, Street View overview

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Shares of GitLab Inc. rose. In the extended session on Monday after DevOps quarterly results and forecasts beat Wall Street expectations.

Jet Lab
GTLB,
-7.12%

Shares were up more than 15% after hours, after dropping 7.1% in the regular session, to close at $38.33.

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The company reported a third-quarter loss of $48.5 million, or 33 cents per share, compared to a loss of $41.2 million, or 62 cents per share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expense and other items, was 10 cents per share, compared to 34 cents per share in the same period last year.

Revenue rose to $113 million from $66.8 million in the same quarter last year.

Analysts polled by FactSet had expected a loss of 15 cents per share on revenue of $106 million.

GitLab forecast a fourth-quarter adjusted loss of 15 cents to 14 cents per share on revenue of $119 million to $120 million, and an adjusted loss of 56 cents to 55 cents per share on revenue of $420.5 million to $421.5 million for the year.

Analysts estimated a loss of 17 cents per share on revenue of $119.3 million for the fourth quarter, and a loss of 65 cents per share on revenue of $412.8 million for the year.

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GitLab goes public in October 2021, With stock pricing at $77 apiece.

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.