The departure of the Slack founder follows the resignation last week of Salesforce co-CEO Bret Taylor. Salesforce bought Slack in July 2021. Read More...
Motley Fool
Why Snowflake, Datadog, and MongoDB Fell Today
Shares of enterprise software giants Snowflake (NYSE: SNOW), Datadog (NASDAQ: DDOG), and MongoDB (NASDAQ: MDB) were plunging on Monday, down by 8.7%, 6.4%, and 9.4%, respectively, as of 3:06 p.m. ET. There wasn’t much company-specific news today, although Snowflake reported earnings last week, and MongoDB will report tomorrow. Friday’s strong jobs and wages report, combined with today’s stronger-than-expected services Purchasing Managers’ Index (PMI) reading, showed the economy may be stronger than generally thought — surprising, especially since recent financial results and guidance in the software industry have been less than stellar.
