Why MongoDB Fell This Week
Investors "sold the news" on Mongo's earnings report, even as it came in stronger-than-expected.
Overview
Shares of enterprise database upstart MongoDB (NASDAQ: MDB) fell this week, with the stock down 14.5% as of Thursday at 1:30 p.m., according to data from S&P Global Market Intelligence.
MongoDB had been a victim of the first half of the year's "SaaS-pocalypse," in which software-as-a-service stocks sold off hard amid fears of AI disruption.
Details
However, from the end of June through the early part of earnings season, software stocks had rebounded strongly, as most companies hadn't yet seen any disruption to their businesses.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.