Why MongoDB Stock Is Falling Today
Shares of MongoDB (NASDAQ: MDB), a cloud computing database company, were sliding today on no company-specific news. Instead, investors appeared concerned about cloud stocks in general today, after Amazon reported disappointing quarterly financial results and weak guidance.
As a result, investors lost some faith in other cloud stocks and MongoDB's shares fell 1.7% as of 3:24 p.m. ET.
Amazon Web Services (AWS) is a leading cloud infrastructure company and its growth is slowing down. Amazon reported its third-quarter results yesterday and AWS sales increased by just 24% from the year-ago quarter, marking AWS' slowest revenue growth since 2014.
Source Fool.com