Why MongoDB Stock Exploded Higher on Tuesday

Shares of MongoDB (NASDAQ: MDB) charged sharply higher Tuesday, surging as much as 22.4%. As of 10:40 a.m. ET today, the stock was still up 17%.

The catalyst that drove up the database-as-a-service provider was third-quarter financial results that sailed past even the most bullish expectations.

MongoDB delivered revenue of $226.9 million, up 50% year over year, calming investor fears that its growth might slow. At the same time, the company delivered an adjusted loss per share of $0.11, cutting its red ink by two-thirds.

Source Fool.com