This Buffett-Backed Technology Stock Could Melt
Snowflake (NYSE: SNOW) was one of the most hyped stock IPOs in recent memory when it went public in late 2020; the company's rapid growth, a euphoric market, and the involvement of Warren Buffett, who bought shares through his holding company Berkshire Hathaway, all contributed to the stock's valuation, one of Wall Street's highest at the time.
But none of that hype has saved the stock from the bear market that picked up steam in 2022. Share prices are down 66% from their highs, and investors are left wondering whether the stock can rebound or if it was just another bubble gone bust.
While Snowflake is a legitimately awesome company, investors should consider some important facts before deciding whether to buy shares.
Source Fool.com
