Why MongoDB Plunged Over 35% in May
MDBMongoDB(MDB) The Motley Fool·2024-06-05 20:05

The high-growth database play gave disappointing guidance, which is a killer for an expensive stock. Shares of database software up-and-comer MongoDB (MDB -1.05%) cratered 35.4% in May, according to data from S&P Global Market Intelligence. MongoDB happened to report first-quarter earnings on May 30, and the subsequent reaction on the final day of the month accounted for a bulk of the decline. While revenue and non-GAAP (adjusted) earnings per share (EPS) beat expectations, management's forward-looking guid ...