Snowflake Shares Supported By Buffett Doubled!

Snowflake Shares Supported By Buffett Doubled! Snowflake shares, supported by Buffett, doubled. Warren Buffett-backed Snowflake saw twice the IPO on its first trading day. According to reports on September 16, US software company Snowflake Inc. was planning the largest public offering in its history this week. But what was more important to the company was that they had convinced the world's leading investor, Warren Buffett, to invest half a billion dollars in its IPO. Following this development, Snowflake's shares doubled on the New York stock market Wednesday, after the company raised more than $ 3 billion from the year's largest public offering in the US. This move in the private market opening of Snowflake's stocks proved the market interest in new stocks as low interest rates pushed investors to the stock market, according to the news in Reuters source. The market put the company's losses into the background and focused on the future of data sharing and cloud systems, which are rapidly increasing with the spread of remote working culture day by day. Snowflake shares began trading at $ 245 per share on Wednesday. This is more than double the IPO price of about $ 120, and the stock increased 111 percent to $ 253.93 and closed at over $ 70 billion.   Snowflake CEO Frank Slootman stated the following in an interview:

“This is just one day. Everything will settle more and more as time passes. ''

  Of the companies traded in the US with at least $ 10 billion in market capital, only three companies seem to be doing better than Snowflake's 2020 revenue performance. These companies are as follows: Nikola Corp, Liberty Broadband and Immunomedics.