MDB - Why Did MongoDB Stock Climb 40% in June?
2023-07-05 16:31:42 ET
Shares of MongoDB (NASDAQ: MDB) shot higher following a strong quarterly earnings announcement. The company's better-than-expected results and upbeat outlook drove the stock up 39.9% in June, according to S&P Global Market Intelligence .
MongoDB is one of the high-growth tech darlings that exploded to an unsustainable valuation during the pandemic then dropped steeply as interest rates rose while growth slowed. Along with many other growth stocks , MongoDB has since exhibited volatility as investors make sense of a complicated macroeconomic environment.
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Why Did MongoDB Stock Climb 40% in June?