Why Snowflake Stock Jumped Today

Shares of Snowflake (NYSE: SNOW) climbed 6.8% on Friday after the cloud-based data warehousing leader announced an intriguing new healthcare-focused initiative.

Snowflake wants to help medical professionals accelerate clinical research and improve patient care. To do so, it's launching the healthcare and life sciences data cloud. The platform is designed to foster the private, secure, and legally compliant exchange of patient records and trial data.

"The entire industry can benefit from this live, connected ecosystem to get access to the data they need when it's needed," Snowflake executive Todd Crosslin said in a press release.

Source Fool.com