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Why MongoDB Stock Is Falling Today

TheMotleyFool

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Why MongoDB Stock Is Falling TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

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

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