Motley Fool

Why Snowflake Stock Is Melting

Shares of cloud-based data storage and analytics service provider Snowflake (NYSE: SNOW) are falling today, down by 8% as of 11:30 a.m. EDT. You can probably blame investment firm Cleveland Research for that. As StreetInsider.com reports today, Cleveland Research counseled caution over Snowflake stock this morning, warning that Snowflake’s partners “are seeing sales cycles elongate on increased competition from hyperscalers,” and that Alphabet’s BigQuery cloud data warehouse may be Snowflake’s biggest competition.

LEAVE A REPLY

Please enter your comment!
Please enter your name here