SNOW - Should You Buy MongoDB Snowflake and Atlassian at Their 52-Week Lows?
2024-06-06 05:23:00 ET
Just a week after the S&P 500 hit its latest all-time high, software stocks MongoDB (NASDAQ: MDB) , Snowflake (NYSE: SNOW) , and Atlassian (NASDAQ: TEAM) all hit new 52-week lows on May 31. Software stocks generally have been unusually absent from the broader growth stock rally and have been weighing the tech sector down in contrast with surging semiconductor stocks like Nvidia .
Here's what's driving declines in these once-market darling growth stocks and whether they are worth buying now.
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Should You Buy MongoDB, Snowflake, and Atlassian at Their 52-Week Lows?