@realmoney @jimcramer @tomkeene @SquawkCNBC Snowflake had Wall Street at "cloud" yesterday as the IPO's market value climbed to $81 billion.
With a loss of $350 million in its fiscal year ending January 2020 and another $170+ million of losses through the first six months of its
With a loss of $350 million in its fiscal year ending January 2020 and another $170+ million of losses through the first six months of its
current fiscal year and a PE ratio of 220x , the company even boasts a catchy stock symbol, SNOW. At current prices, SNOW is the 69th largest market cap in the S&P despite having less trailing revenues ($440 million) of any company in the S&P Index. (Coincidentally, Amazon went
public in 1997 and traded at a market cap of $442 million (the same sales rate of SNOW today!). But it took another 14 years for Amazon's market cap to hit $80 billion (which at the time had already reached $40 billion in sales))
Unfortunately, those with a sense of market
Unfortunately, those with a sense of market
history recognize SNOW, like SPACs, EVs and other "shiny objects" join the pantheon and list of thin reed indicators of speculation that often mark a market top. @FerroTV @saraeisen @carlquintanilla @michaelsantoli @lizclaman @riskreversal @terranovajoe @guyadami
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