Wednesday, September 16, 2020

SNOW stock: Debut on stock market - double the price

 Here is the article. 

Cloud company Snowflake shares surged more than 111% in its market debut on the New York Stock Exchange on Wednesday in the largest ever software IPO. 

The stock began trading at $245 per share and closed at $253.93. A day earlier, Snowflake priced shares at $120, higher than the $100 to $110 range it estimated on Monday, and a huge bump from the $75 to $85 range it proposed last week. 

Snowflake was worth $70.4 billion at the end of trading, more than five times its $12.4 billion valuation in February.


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