The Nasdaq Is Climbing, and This High-Growth Stock Is Thursday's Big Winner

The stock market hasn't had a good week to follow the Memorial Day holiday, but investors seemed to get a little bit more comfortable with market conditions on Thursday. By the close, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up more than 2.5%, helping to reverse some of the losses from earlier in the week.

Much of the Nasdaq's success in 2020 and 2021 as well as its bear market drop in 2022 has come from software-as-a-service (SaaS) stocks. Fears of higher interest rates and potential slowing growth have weighed on investor sentiment among the group, with stocks often losing ground even after promising financial reports. However, SaaS stocks reasserted their strength on Thursday, and MongoDB (NASDAQ: MDB) was the primary contributor to the upsurge in the space.

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Source Fool.com