News of a successful coronavirus vaccine has buoyed the stock market in the past few weeks, and many investors are buying the tech dip that preceded it. As a result, stock in cloud-based data warehouser Snowflake (NYSE: SNOW) has risen 20% since the middle of November. But with so much interest of late, and fresh off the most expensive IPO of the year, is Snowflake at risk for a sudden drop in price?
As a cloud data platform, Snowflake leverages the elasticity and performance of the public cloud to enable customers to unify and query big data. Its cloud-native architecture offers three major service layers:
Essentially, Snowflake customers feed massive sets of raw data into the cloud and receive back analytics-ready data, useful for distilling business insights and delivering revenue-generating services. With a highly scalable model that allows customers to pay per use, the company has proven exceedingly popular as more and more businesses turn to cloud-based warehousing solutions.
Source Fool.com