Stock Of The Day: MongoDB Finds Support After Post-Earnings Volatility

Group 1 - MongoDB, Inc. shares experienced a marginal increase after a significant selloff of nearly 17% on the previous day, finding support around the $293 level [1] - The company's third-quarter earnings were reported at $1.16 per share, exceeding estimates of 67 cents, with sales reaching $529 million compared to analyst expectations of $498 million [1] - On a GAAP basis, MongoDB reported a loss of 13 cents per share, contrasting with the positive non-GAAP earnings due to adjustments for stock-based compensation [1] Group 2 - The $293 price level previously acted as resistance but has now converted into support due to "seller's remorse" from traders who sold shares at that price [2][3] - Many investors who sold shares around the $293 level regretted their decision and placed buy orders when the stock returned to that price, creating a concentration of buy orders that formed support [3] - The difference between GAAP and non-GAAP earnings can lead to misleading headlines, emphasizing the importance of understanding the underlying accounting principles [3]