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Why Cloudflare, Snowflake, MongoDB, and Other Cloud Stocks Rallied Wednesday Morning

Danny Vena, The Motley Fool
·4 min read
Why Cloudflare, Snowflake, MongoDB, and Other Cloud Stocks Rallied Wednesday Morning

Market watchers and the Federal Reserve alike have been watching closely for signs of an impending recession, and while talk of a mild downturn has increased in recent weeks, investors have been hopeful for a so-called "soft landing," with the economy sidestepping a recession. With that as a backdrop, Cloudflare (NYSE: NET) rose 5.2%, Snowflake (NYSE: SNOW) climbed 8.1%, MongoDB (NASDAQ: MDB) jumped 11.2%, and Datadog (NASDAQ: DDOG) rallied 14% as of 11:10 a.m. ET on Wednesday.

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