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1 month ago
The S&P 500's biggest weekly loser is about to get booted from the Nasdaq 100
MondoDB's stock was slumping 5.3% in recent trading, and has tumbled 20.4% this week, to make it the S&P 500's biggest decliner this week.
The week appeared the start out strongly for the database platform company, with an after-hours stock rally on Monday of as much as 12.2% following better-than-expected quarterly earnings. But the gains quickly evaporated, as fellow database software company Oracle reported disappointing results.
The selloff in MongoDB's stock continued as the week progressed. It's expected to be announced after Friday's close that the company will be booted from the Nasdaq 100 index, and the actively traded ETF that tracks the index, the Invesco QQQ Trust.
Another big S&P 500 loser this week is Super Micro Computer's stock, which has taken an 18.3% hit. The server maker and former AI darling was also expected to leave the Nasdaq 100.