MDB - MongoDB Added the Most New Customers in Over 2 Years -- Is It Finally Time to Buy the Stock?
2023-06-02 14:41:34 ET
After more than 18 months of misery, it appears the bear market that plagued technology stocks may finally be over. The tech-centric Nasdaq Composite is now down just 18% from its peak, and if it continues along its current trajectory, the worst could be behind us.
Like many stocks, MongoDB (NASDAQ: MDB) was punished harshly, at one point losing more than two-thirds of its value. Yet, the cloud-native database specialist continued to crank out quarter after quarter of double-digit growth, and it appears the stock is now on the road to recovery.
After the market close on Thursday, MongoDB delivered decisive results, putting investors on notice that a rebound was at hand -- characterized by strength in all the metrics that matter and a classic beat-and-raise.
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MongoDB Added the Most New Customers in Over 2 Years -- Is It Finally Time to Buy the Stock?