Shares of Snowflake soared 111.6% yesterday in its debut on the New York Stock Exchange, from the initial $120 to $253.95 where it ended its first session.
Here is what that amounted to for the company:
- The company thus managed to end up with a market value of approximately $70 billion
- Their market value is now more than five times higher than its market valuation in February, according to Bloomberg calculation
- This is the largest IPO of a software company.
Snowflake Inc. provides networked database solutions. The company develops cloud computing and data storage services. Snowflake serves customers around the world and is growing rapidly and receiving a lot of attention because it is a cloud database that is fast and easy to use, seamlessly integrating with the customer's preferred cloud platform.
The company's shareholders include Salesforce and Warren Buffett (Berkshire Hathaway).
Did you know that with Admiral Markets UK Ltd you can invest in Snowflake shares with the Invest.MT5 account? With this account, you can access not only the software company but also thousands of stocks and ETFs from 15 of the largest exchanges in the world. Click on the banner for more information:
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