Why Shares of MongoDB Skyrocketed 72% in the First Half of 2020
Shares of MongoDB (NASDAQ: MDB) rose 72% in the first half of 2020, according to data from S&P Global Market Intelligence. The upstart document database company had not one but two earnings reports during the first half of the year, in both March and June, with each quarter's revenue figures beating expectations.
While this high-flying growth stock forecast a slowdown in the second half of the year because of COVID-19, industry developer surveys pointed to MongoDB as being very much in demand as a preferred database solution. Therefore, investors were willing to look past near-term headwinds to crown MongoDB a winner of the new digital economy.
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Source Fool.com
