1 Critical Reason Snowflake Stock Has Declined by 56%
Snowflake (NYSE: SNOW) helps businesses extract more value from their data through its innovative Data Cloud. It was one of the hottest stocks when it went public in 2020, even attracting a small investment from Warren Buffett's Berkshire Hathaway.
While Snowflake stock still trades above its $120 IPO price, it's down 56% from the all-time high it reached in late 2021. The company is growing far more slowly today than it was a few years ago, and this slowdown is attributable to a few things.
First, Snowflake's business has matured so delivering lightning-fast growth is increasingly difficult. Second, the cloud computing company is grappling with macroeconomic challenges stemming from elevated inflation and interest rates, which have forced businesses to tighten their spending.
Source Fool.com
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