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MongoDB Trades Higher On New Partnership With Alibaba

Tanzeel Akhtar

MongoDB (NASDAQ: MDB) shares are trading higher after the company reported a partnership with Alibaba (NYSE: BABA).

Users of Alibaba Cloud's platform offering will have access to the latest MongoDB features and capabilities, backed by support from Alibaba Cloud and MongoDB.

The terms of the partnership have not been disclosed.

"Not only is China one of the largest markets for database software, but there also has been enormous adoption of MongoDB in this market,” said said Dev Ittycheria, CEO of MongoDB. “Over the past four years the most downloads of MongoDB have been from China, reflecting the global popularity of MongoDB's next-generation database platform."

MongoDB shares were trading up 73% at $134.69 on Wednesday morning. The stock has a 52-week high of $184.78 and a 52-week low of $65.62.

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