Investing in Snowflake stock now?
Posted: Jul 03, 2024
- User is considering buying $SNOW (Snowflake) stock - User works in Cloud Computing sector and sees Snowflake being used by big multinational companies - User believes Snowflake is "big" and sees people migrating data to Snowflake - Describes price as "low" - Asks for opinions on investing in Snowflake
🚨 Reddit sentiment: mixed/negative - While some are optimistic about Snowflake's long-term potential and see value in the technology, many comments highlight concerns about overvaluation, competition, and future performance, leading to a more bearish overall sentiment. Summarized comments: - Price action always leads sentiment; recent rally has brought interest - Some investors have been buying in the 120s and 130s, seeing long-term potential despite volatility - Concerns about the stock being overpriced with a high market cap and low revenues - Some see the tech and market position as promising, but worry about future performance - Databricks is considered a significant competitor, with big tech posing less of a threat - Large institutional investors like Buffet, Sands Capital, and Baillie Gifford hold significant shares - Valuation is high but some are buying based on future growth potential rather than current P/E - Some believe other companies like Palantir may be better investments in this space - Skepticism from some users who think the stock might just be benefiting institutions post-IPO - Questions about whether interest after a run-up is genuine or following the trend - Some believe Snowflake's early market advantages are eroding with competition from big clouds and integrated solutions; big returns may be in the past but it remains a strong player Stock tickers discussed: $SNOW, $PLTR
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