Why Snowflake Stock Soared to a New All-Time High Today
Shares of Snowflake (NYSE: SNOW) surged 14% to a record closing high of $387.70 on Friday, furthering the cloud data specialist's gains since reporting earnings earlier in the week.
Snowflake's first earnings release since its initial public offering (IPO) in September was solid. Its revenue rocketed higher by 119% year over year to $159.6 million. Strong customer gains and rising sales to existing clients helped fuel the data warehousing company's expansion.
Snowflake's shares continued their ascent on Friday. Image source: Getty Images.
Source Fool.com
