Snowflake Stock Rebounds, Flies Higher on AI Spending

Artificial intelligence (AI) data cloud provider Snowflake Inc. NYSE: SNOW has had a series of misfortunate events, ranging from an earnings miss to data breaches, that caused its stock to tumble to 52-week lows at $122.60 on June 25, 2024. However, the shares have been able to rally for four consecutive days following the low as the market reconsiders its sentiment and ponders whether the sell-off was overdone. Investors should take a closer look at the catalysts to consider stepping into some cheaper shar ...