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Why Shopify, Palo Alto Networks, and MongoDB Stocks All Rallied on Thursday

Why Shopify, Palo Alto Networks, and MongoDB Stocks All Rallied on Thursday

All eyes have been on the economy this year, with investors and consumers alike looking for any indication that things are on the mend. With that as a backdrop for the day's trading session, e-commerce platform Shopify (NYSE: SHOP) climbed 5.5%, cybersecurity specialist Palo Alto Networks (NASDAQ: PANW) jumped 3.8%, and cloud-centric database provider MongoDB (NASDAQ: MDB) rallied 3% as of 12:22 p.m. ET. To be clear, there was little in the way of company-specific news about these businesses.