Why Shares of CrowdStrike, MongoDB, and Atlassian Fell Today
Shares of high-growth software companies CrowdStrike Hodings (NASDAQ: CRWD), MongoDB (NASDAQ: MDB), and Atlassian (NASDAQ: TEAM) fell hard today, declining 6.6%, 6.5%, and 5.7%, respectively, at the close.
It's curious that these stocks fell so much, as today saw the release of soft economic data and a decline in long-term Treasury bond yields. Usually over the past year, days like this would have led unprofitable growth stocks like these three to outperform. Yet today, they are underperforming.
Why might that be? Well, perhaps investors are coming around to the notion that these "growth stocks" might not see such great growth this year or next. Data releases today pointed to an economic slowdown, and CrowdStrike held an analyst day yesterday that might have underwhelmed some more-hopeful investors. That could have cast a pall over similar software stocks like MongoDB and Atlassian today.
Source Fool.com
