Snowflake explodes 166% higher on first day of trading after biggest IPO of 2020 - Business Insider

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Snowflake explodes 166% higher on first day of trading after biggest IPO of 2020

Shares of cloud-data startup Snowflake spiked as much as 166%, to $310 per share, on its first day of public-market trading. Trading in the stock was halted shortly after opening due to volatility.

The company debuted on the New York Stock Exchange after raising $3.4 billion in its Wednesday initial public offering. The haul cemented Snowflake as the largest software IPO ever and the biggest share sale of 2020. The firm sold 28 million shares at $120 each, pricing the stock above its previous range amid strong investor demand. Snowflake's trading debut garnered Wall Street enthusiasm earlier in the month after legendary investor Warren BuffettSnowflake trades under the ticker SNOW. Shares traded roughly 130% higher, at $283.19, as of 12:47 p.m. ET Wednesday.

 

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IPO initial ranges: 1. $75,00 - $85 2. $120,00 3. $215,00 SnowflakeIPO

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Snowflake prices IPO above increased range, implying initial market cap of $33.3 billionAfter boosting the price range for its highly-anticipated IPO to between $100 and $110, Snowflake is selling shares at an even higher price of $120. Perfect for those snowflake millennials on Robinhood. CEO Adam Brimo talks at ASX conference, all about OpenLearning=ASX$OLL OpenLearning Ltd ASX:OLL Has partnered with some of the major universities. Partnerships that could become the cornerstone of a much bigger arrangement. Motley fool article on OpenLearning=ASX$OLL🚀
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