MongoDB shares fell significantly, closing down 6.15% at $413.52, as the stock was cited among software names "plummeting" intraday due to continued volatility and profit-taking in high-multiple technology stocks.
- Recent research coverage has reiterated a positive long-term view, citing MongoDB's crucial role in AI workloads and continued growth in its Atlas platform.
- The decline occurred as the broader Nasdaq Composite faced pressure from rotation into defense and industrials, weighing on growth software valuations.
- The stock ticked up slightly in after-hours trading, rising 0.28% to $414.67.