MongoDB Inc (NASDAQ:MDB) shares have backpedaled 12.7% to trade at $378.87, even after the database software company topped its second-quarter earnings expectations and lifted its fiscal 2027 outlook. Atlas revenue grew 29% year over year, matching its growth rate for the third-straight quarter and potentially leaving investors looking for stronger signs of cloud spending among new customers.
MDB is on track for a second-straight daily drop after ending a five-session winning streak, pacing for its worst session since March 3. Despite today's pullback, the equity remains 18% higher year-over-year.
Short interest increased 9.25% during the most recent reporting period, with roughly 2.84 million shares sold short. That figure represents 3.63% of MongoDB's available float, or less than two days of pent-up buying power.
MDB also sports a 10-day put/call volume ratio of 2.39 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 97th percentile of its annual range, hinting at a much healthier-than-usual appetite for bearish bets over bullish of late.
Today is more the same, with over 15,000 puts across the tape already, which is six times the amount typically seen at this point. The January and December 150 puts are the most popular contracts, with new positions opening at both.
