Dan Loeb's Third Point Discloses Its Stake in Snowflake
Snowflake (NYSE: SNOW) was a hot stock again on Monday, following news that a top name in the hedge fund world has a stake in the tech company. Third Point Management, headed by Daniel Loeb, disclosed in an investor update on Monday that its Offshore Fund has a position in the cloud data specialist.
Third Point did not specify how many Snowflake shares it owns, or specifically when it opened the position. It also provided no rationale for its investment. The company was only mentioned once in the four-page update, under the category "[Month-to-date] winners," alongside other familiar stocks such as Danaher and Pinterest.
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Source Fool.com
