nope, more a sign of it popping. Cloud services provider Snowflake went public yesterday, IPO’d at $120 a share and closed in its first day of trading at $245 a share. If you got a piece nice and it you didn’t you might want to avoid. Their S-1 is pretty expansive, notes significant risks, including “limited operating history”, “history of losses” and notes significant competitors. About a three minute read.
Comment: to give you an idea of how absurd Snowflake’s valuation is. if Microsoft carried a similar P/E, the company would be worth $17T (yes, thats a capital T for TRILLION), more than the entire GDP of China, and about half the value of the entire US stock market. Pricey. Wait for the share price collapse — not to buy, but enjoy. Ah, fools and their money.