Why Snowflake Stock Soared Today

1 min read

Shares of Snowflake (NYSE: SNOW) jumped 13.5% on Thursday, defying those who had expected the cloud-data leader’s stock price to fall.

Snowflake announced on Dec. 29 that its initial public offering (IPO) lock-up period would end on Jan. 7, allowing early investors and company insiders to sell their shares. Many analysts expected this selling to cause Snowflake’s stock price to decline, with some going so far as to cut their price targets for its shares. 

Snowflake’s surging stock price surprised many investors on Thursday. Image source: Getty Images.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Lamb Weston Holdings, Inc. (LW) Q2 2021 Earnings Call Transcript

Next Story

Franklin Covey Co (FC) Q1 2021 Earnings Call Transcript

Latest from Blog