A Surprise CEO Exit Is Sinking Snowflake (SNOW) Stock
SNOWSnowflake(SNOW) InvestorPlace·2024-02-29 22:27

Cloud platform company Snowflake (NASDAQ:SNOW) saw an avalanche of sell orders after announcing a weak 2025 outlook and the retirement of CEO Frank Slootman. Sridhar Ramaswamy will replace Slootman. He joined the company last May when Snowflake acquired his generative artificial intelligence (AI) search startup, Neeva. SNOW stock fell 22% overnight to about 179from179 from 230, a loss of about $17 billion in market capitalization. Snowflake’s AI Outlook Analysts had no trouble with Snowflake’s quarterly results. ...