Why Investing in IPOs is Risky: Snowflake Edition

Ever since it filed its paperwork to go public, I was interested in data warehousing company Snowflake (NYSE: SNOW). I even thought about participating in the IPO.

28 million shares were up for grabs, so I figured there'd be plenty for the taking. And Snowflake was planning to sell its shares in a range of $75 to $85. Just 48 times trailing sales -- what a bargain!

But that's when everything started to go wrong.

Source Fool.com