Why MongoDB Sank Today
Yahoo Finance ·
Shares of new-age database company MongoDB ( MDB -18.46% ) sank as much as 26.9% on Monday, before recovering to a 18.5% decline on the day. Today, MongoDB's CEO, Chirantan "CJ" Desai, announced that he has left MongoDB to head the new Meta Enterprise Platform, which Meta Platforms ( META -4.79% ) also announced today. It's pretty shocking to see a CEO who was just one year into his tenure leave for a large Magnificent Seven company where he won't be the CEO. Therefore, it's no surprise to see MongoDB falling in the news. But is the sell-off overdone?
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