Cloud data platform Snowflake, who launched it’s IPO last September reported Fiscal 4th quarter earnings Wednesday. $SNOW sold off after it’s full-year guidance did not exceed analysts’ estimates, a miss in a hugely overvalued technology sector. SNOW also announced an end to its dual-share class structure.
Cloud data platform Snowflake launched it’s IPO Wednesday under the symbol $SNOW and priced at $120 a share. It hit a high of $319 just after the open fueled by news Berkshire Hathaway and Salesforce bought shares in concurrent private sales.