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Why MongoDB Stock Plunged 39% in September

TheMotleyFool

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Why MongoDB Stock Plunged 39% in September: https://g.foolcdn.com/editorial/images/703475/cloud-computing-data-storage.jpg

Shares of MongoDB (NASDAQ: MDB) took a dive last month after investors reacted poorly to its second-quarter earnings report in the beginning of the month, and continued to slide as the broad market sold off in the second half of September. The Federal Reserve's interest rate hike and commentary from Fed Chair Jerome Powell added more pressure on stocks, hitting growth stocks especially hard.

According to data from S&P Global Market Intelligence, the stock finished September down 39%. As you can see from the chart below, most of the losses came early in the month.