Type to search

FinTech Tech

Snowflake’s Stock Price Soars in IPO

Share
Snowflake’s Stock Price Soars in IPO

Snowflake Inc.’s shares skyrocketed on their first day of trading, giving the biggest tech IPO of the year a market value of $70.4 billion and feeding the recent bout of enthusiasm around initial public offerings.

Shares of the data-warehousing company closed at $253.93, more than double their IPO price of $120 and roughly triple what the company initially targeted a week ago for its offering. Just after the stock opened, it traded as high as $319. Wednesday’s ascent means the company is now valued at more than five times…

Source link

Tags:

Leave a Comment