It's a sharp drop from Wednesday's close, when shares were up more than 111%, giving Snowflake a $70.4 billion market capitalization. The company's market cap dropped to $63.1 billion at Thursday's market close."A stock is worth exactly what somebody wants to pay for it," CEO Frank Slootman told CNBC just after the shares began trading Wednesday. "It's like talking about the weather — it is what it is. Tomorrow's another day, we'll see what it brings.
Snowflake raised more $3 billion based on its opening price, the most ever for a software company. The stock trades under the symbol SNOW. Snowflake is growing alongside the major public cloud vendors by providing technology that allows clients, including McKesson and DoorDash, to quickly analyze and share vast amounts of data and increase capacity as needed, rather than relying on databases that are tied to hardware.
😂😂😂 Bloody Noobs!
With stock $SNOW still trading at 89.5% above listing price and you call that tumble? With such a loose terminology usage you would be demanding many other stocks to get delisted itself 🤯🙄
Duh. I wish there was options I would have bought puts on this crap and I don’t like buying options.
Summer is coming! 2000's just called. are back!
classic pump and dump
Shocking!
Kinda like what will happen when trump wins again.... snowflakes tumbling 😂