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116.50
2.43%
2.76
After Hours:
116.99
0.49
+0.42%
Why is Snowflake Inc (SNOW) Stock down?
We've noticed a 14.70% decline in Snowflake Inc (SNOW) stock during the 2024-08-22 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
25 May, 2023:
SNOW's stock fell 16.50% after the company announced financial results for the fiscal first quarter of 2024 and lowered its forward guidance. In Q1, Snowflake generated product revenue of $590 million, up 50% year over year. However, Snowflake's management noticed slowing growth after Easter, which led to a slower-than-expected April. The company lowered its full-year revenue guidance. For fiscal 2024, it had guided for 40% growth for product revenue but now management is guiding for just 34% year-over-year growth, which is a substantial reduction.
https://www.fool.com/investing/2023/05/25/heres-why-snowflake-stock-sank-like-a-rock-today/
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