Why MongoDB Stock Is Falling Today
Shares of MongoDB (NASDAQ: MDB), a database platform company, were tumbling this morning on no company-specific news. Some investors were likely exiting their MongoDB position as part of a broader sell-off of technology stocks.
MongoDB's stock fell by as much as 6.1% this morning and was down by 5.9% as of 10:19 a.m. EDT.
Tech investors have been keeping a close eye on rising 10-year Treasury yields since September. Rising yields can hurt some of the long-term growth potential of fast-growing tech companies because higher yields mean that a company's future profits are not worth as much right now.
Source Fool.com