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Why MongoDB, CrowdStrike, and Datadog Are Rocketing Higher on a Down Day for the Markets

TheMotleyFool

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Why MongoDB, CrowdStrike, and Datadog Are Rocketing Higher on a Down Day for the Markets: https://g.foolcdn.com/editorial/images/688468/gettyimages-1331493599.jpg

Shares of MongoDB (NASDAQ: MDB), CrowdStrike Holdings (NASDAQ: CRWD), and Datadog (NASDAQ: DDOG) were rising strongly on Tuesday, up 9.8%, 2%, and 5.1%, respectively, as of 12:48 p.m. ET. The gains came even as the broader market indexes fell on the back of recession fears.

There wasn't any material company-specific news out of these companies today. Ironically, those very recession fears may actually be helping these types of tech growth stocks at the moment.

Ever since the Federal Reserve hiked the Federal Funds Rate by 75 basis points on June 15, the markets appear to have switched from being worried about inflation to worried about a recession.

Source Fool.com

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