Shares of MongoDB (NASDAQ:MDB) rose 11.2% in April 2021, according to data from S&P Global Market Intelligence. The maker of alternative database software didn't have much news to share last month. Instead, the stock quietly executed a partial rebound after plunging 30.7% in March.
The March crash wasn't really MongoDB's own fault, either. The company posted fourth-quarter earnings on March 9, beating Wall Street's estimates across the board and sparking a small but short-lived bounce on the stock chart. The downward pressure resulted from widespread coronavirus vaccinations as investors started to feel like the business world might get back to normal fairly soon.
By and large, MongoDB has been tangled up in a broad market retreat from high-growth stocks that saw big gains in 2020, especially companies that benefit from lockdowns and/or work-from-home policies. MongoDB falls under that umbrella, serving up massive revenue gains and a 173% stock return last year.
The stock is now trading more than 40% below February's all-time highs. That makes sense if you think that MongoDB is running out of rocket fuel in a world without COVID-19, but I'm actually tempted to add a few shares to my own MongoDB holdings at these lower prices. This company has a lot of growth left to explore, with or without coronavirus lockdowns throwing additional fuel on the fire.