Why MongoDB Fell This Week
Yahoo Finance ·
Shares of enterprise database upstart MongoDB ( MDB +1.92% ) 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. 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. So, MongoDB had already seen its stock rise through this earnings season, heading into this week's report. While the company delivered strong results, apparently, investors were looking for a bit more.
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