While Snowflake was the market darling in 2020 and its market capitalization rose above $100 billion, it has looked weak over the last few months. There hasn’t been anything particularly related to SNOW stock and investors have pivoted their portfolios from growth to value stocks.
The rise in bond yields makes future cash of companies less attractive in current dollar terms. Like most other companies that have gone public over the last year, Snowflake is also posting losses. If anything, its losses have widened along with the revenues. In the last fiscal year, it lost $539.1 million on revenues of $592 million.
View more information: https://marketrealist.com/p/should-buy-snowflake-snow-stock-on-dip/