Wow… MDB up another 8% this morning early after a Citibank upgrade. I don’t give much credit myself to the analysts, except perhaps that they can drive the demand of those who follow them to buy the stock. I am usually in or out long before them…in the case, more than a year. Also appears that the Atlas adoption is accelerating and happening faster than expected. That bodes well for continued revenue growth. After a conversation with a respect friend last night who follows this blog, I think its important to note that just because I am not actually buying more MDB the past month, week or days, does not mean I don’t like it as a company. In fact, I give it my 2nd highest conviction by virtue of it being my second highest percentage holding. I just don’t plan to add more of it because as of this morning, it has surged to a 12% holding. If I did not own any shares, I would most likely have been buying some shares over the past month and based on the last earnings call. It always depends on your personal holdings compared to other companies, your other investments, cash position, lifestyle and risk appetite. I like to hold a portfolio of 10-12 companies. The companies I hold the largest positions are the ones I usually have the highest conviction and belief that they will continue their incredible revenue growth and to 5x themselves. MDB has one of the lowest market caps of all my stocks and certainly has room to grow with still only a small sliver of the TAM and gaining traction fast with their new Atlas offering.
https://seekingalpha.com/news/3495407-okta-eps-beats-0_05-beats-revenue?app=1&dr=1#email_link
Eager to listen to the earnings call later, but both are up nicely in after hours trading…ESTC is up over 7% right now!! ESTC growth does not appear to be slowing down at all…more later.
