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MongoDB, Oracle Competitor, Surges in Nasdaq Debut

Shares of database software upstart MongoDB (MDB) are up $ 5.80, or 24%, at $ 29.80, after the shares opened at $ 33, 38% above the price set last night of $ 24, well above an expected range of $ 20 to $ 22. 

The ten-year-old company, whose underwriting is led by Morgan Stanley and Goldman Sachs, makes a data management system that MongoDB claims avoids pitfalls of both the relational database systems popularized by Oracle (ORCL) and IBM (IBM), and also newer alternatives that fall into the camp of “NoSQL.” 

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