Why MongoDB Stock Gained 20% In July

·2 min read
Why MongoDB Stock Gained 20% In July

Shares of MongoDB (NASDAQ: MDB) were flying higher last month as improving investor sentiment drove a recovery among cloud stocks, and the company benefited from some bullish analyst chatter. While there was little company-specific news out on the database software business, the improving macroeconomic picture favored the stock. According to data from S&P Global Market Intelligence, the stock finished the month up 20%, though the chart below shows that it wasn't a smooth ride.