1 Cloud-Service Stock to Watch in 2020
- MongoDB’s database tools have helped Microsoft, Facebook and Amazon revolutionize how we share and archive data.
- Today, this upstart is taking on these major players head-to-head … and I’ll show you if you should “Bank It or Tank It” in 2020.
- My colleague Matt and I use one bullish options strategy on stocks like these to make consistent monthly gains. Click here to see how.
Microsoft, Google and Amazon dominate the cloud with a whole range of open-source solutions for storing and managing data.
But these giants owe much to the early innovations of one developer — MongoDB Inc. (Nasdaq: MDB).
The company launched its titular database software way back in 2009. This was well before many had taken to storing their valuable information on the cloud.
What started as a set of easy-to-use open-source tools has turned into a billion-dollar industry.
Before launching its initial public offering in October 2017, the company’s valuation sat at $1.18 billion.
The company continued fine-tuning its signature platform. And it added a whole slew of similar products to its library of database tools.
These moves have helped MongoDB maintain its lead in the cloud storage space.
Today, MongoDB’s tools are used by a wide range of major players in tech, from Adobe Inc. (Nasdaq: ADBE) to Facebook (Nasdaq: FB).
It’s one of the best growth stocks in tech right now.
But with growing competition from the biggest players in tech, many investors wonder if the stock can hit even higher highs in 2020.
In my latest installment of Bank It or Tank It, I review the stock’s fundamentals and technical data. And I let you know whether you can bank on it moving higher, or expect it to tank.
Watch the video below to get my insights on MongoDB.
A Growth Stock With Room to Run
More companies are adopting cloud-service platforms to store and manage their data.
MongoDB is in a unique position to benefit from this shift. The company’s stock has skyrocketed since going public in 2017.
After peaking in June 2019, shares plunged more than 30%. Now they’re trying to rebound.
Since MongoDB is a behind-the-scenes tech stock, it’s tough to predict how well its clients are using its platform. There’s no tangible product, like an iPhone or Model S, by which to measure the company’s success.
These factors make it easy to get caught up in the back-and-forth with the share price. And that kind of distraction could mean missing out on a major rally.
That’s why I always invest using a proven strategy to make consistent returns, regardless of what the company does.
My bullish options strategy lets you lock in gains from companies just like MongoDB. In fact, my system has brought readers like you a steady stream of gains month over month … and year over year from multiple sectors.
It handed my readers a string of four 50% gains in December 2019 — and three triple-digit wins back in November.
If you’re interested in learning more about this powerful strategy, you can click here to watch a special presentation.
Chad Shoop, CMT
Editor, Quick Hit Profits