The market had barely begun to catch its breath when GitLab (GTLB) decided to steal the spotlight last month on Oct. 16. The stock lit up the screens of traders, shooting up nearly 11% just as the closing bell neared. The broader market, meanwhile, looked like it had lost its appetite for risk, with the S&P 500 Index ($SPX) slipping 0.6%.
The spark behind the sudden blaze was a Street Insider post that sent the rumor mill spinning, hinting that Datadog (DDOG) might be circling GitLab again. A source claimed that Datadog’s management was weighing an offer north of $60 per share, a 30% premium over GTLB stock's current price level. Adding more spice to the mix, the report mentioned that Datadog was working with Morgan Stanley to get its financial ducks in a row.
