SNOW Stock's Stormy Forecast: Why Cautious Investors Should Wait for a 20% Dip

Snowflake (NYSE:SNOW), which specializes in software for cloud-based data warehousing, was recently overvalued. I tried to warn investors about Snowflake’s trailing price-to-earnings ratio and suggested that SNOW stock was vulnerable to a pullback. That pullback came to pass, but it’s still not the right time to take a share position.Sure, Snowflake as an artificial intelligence connection and, as we’ll see, the company’s quarterly financial results were pretty good. Yet, due to a surprising event and Snowf ...