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Why Snowflake Stock Just Melted Down

TheMotleyFool

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So here we are the end of the trading week, and Snowflake (NYSE: SNOW) stock, the hottest of hot IPOs just a month ago, is melting into a puddle, finishing the day down almost 11%. You can probably blame the bankers at Barclays for that.

This morning, Barclays Capital upped its price target on Snowflake to $277 a share. But Snowflake was already selling for more than $297 a share when Barclays raised its target. To hit the new target, Snowflake would have to fall nearly 7%.

Image source: Getty Images.

Source Fool.com

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