Expect a rebound in MDB shares as the drop was news-driven, not fundamental; support at $290.
Jump to any passage
There are also other stocks that are seeing notable movements, such as MongoDB. So, Meta recruited its CEO, and that may not seem like big news, but the company's stock opened down 24 %.
A massive collapse in MongoDB shares. During the day, the stock fell to around $300, a drop of 27%. Since then, the stock has seen a remarkable rise from its lows, by approximately 13.5%. But it is still down by approximately 18%.
This remarkable rise is attributed to the CEO, especially after the stock recorded an increase of approximately 90%. So, if MongoDB shares continue to decline, there will be strong support around $290, but I expect a rebound in MongoDB shares, because this decline was driven by news and not necessarily by a fundamental problem in the company.
What this channel has said about $MDB
Verified Investing has 6 calls on this stock; only the adjacent ones are shown.