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This Recent Tech IPO Stock Is A Buy

TheMotleyFool

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Software company GitLab (NASDAQ: GTLB) went public on Oct. 14 and was embraced by a market of optimistic investors that traded the stock up more than 30% on its opening day, closing at more than $100 per share.

Times have changed, the optimism has turned to wariness, and investors are shunning the stock, which trades at around $45 these days. Rampant inflation and rising rates have sent investors running for more defensive investments.

But GitLab's business is performing well, making a falling share price a potential opportunity for investors with a long-term mindset. Here's what makes GitLab a stock to consider buying today.

Source Fool.com

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