Why Snowflake Is Not A Falling Knife
Snowflake(SNOW) Seeking Alpha·2024-08-30 04:15
Olena_T/E+ via Getty Images Snowflake Inc. (NYSE:SNOW) has sold off after the company reported quarterly results for 2Q24 that pointed towards an ongoing deceleration of its sales growth. The company’s stock price plummeted 15% after earnings and have remained volatile ever since. Furthermore, the stock has broken through key support levels, including the 20-day and 50-day moving average lines, which has created a short-term bearish chart picture. With that being said, though, Snowflake is enjoying a he ...