Should you buy this New IPO Stock? Warren Buffet JUST Did. [Snowflake Stock]
Should you buy the Snowflake IPO on Tuesday September 15th? What do we know about the value of Snowflake Stock and is the company worth investing into? Tuesday, September 15th, 2020 there is a company IPO?ing that is bound to get an insane amount of media attention. The company is called Snowflake. They?re a cloud-based software that builds on top of Google, Microsoft, and Amazon?s databases so that companies can run near real-time analytics to understand their customers better. Snowflake IPO?s, or shows up on the stock market, on Tuesday. It?s expected to open at a price of $80-100 and there?s a massive amount of hype for it especially since Warren Buffett?s Berkshire Hathaway has invested $250 million into the company along with Marc Benihof's Salesforce. The big surprise is that Warren Buffett, an investor who made it a rule NOT to invest in money-losing companies, invested in Snowflake- which is definitely a money losing company. And this got me interested. What the heck is this company. Well, Snowflake takes data that are are 1 to 5 BILLION points in lengths and lets companies make business decisions. Apple us using them, Nike is using them, there are now Snowflake engineers and this is a software as a service (saas) business. Snowflake let?s you access that data and run tests, comparisons, and traces between that data set, and let?s say another data set that?s just as big or even better or smaller if you want to whatever! 26% of Snowflake's revenue comes from Fortune 500 companies.