Are Investors Overreacting to the Departure of Snowflake's CEO?
Snowflake(SNOW) The Motley Fool·2024-03-10 22:46
Shares of Snowflake (SNOW -3.59%) tumbled at the end of February as the company not only posted unimpressive guidance, but also announced the surprise departure of CEO Frank Slootman. The stock was trading at around $230 heading into the earnings report, but Wednesday had dipped to $165. The sudden, sharp sell-off appears extreme, particularly for a stock like Snowflake that can benefit from promising long-term trends in artificial intelligence (AI), which should increase demand for its cloud-based data pla ...