Snowflake Shares Continue to Melt. Is It Time to Buy the Dip?
A difficult year for Snowflake (NYSE: SNOW) investors only got worse after the second-quarter results from the cloud-based data warehousing company disappointed investors. The stock immediately fell 15% the session following its earnings announcement and is now down more than 40% on the year.
Let's take a closer look at the company's Q2 earnings report and judge if investors should consider buying the dip in the stock.
Part of Snowflake stock's difficult performance this year stems from the company being involved in a cybersecurity attack that allowed hackers to access customer data. If the company hoped that its Q2 results would help ease investors' worries that the incident would not have an impact on its business, that didn't seem to happen.
Source Fool.com
