Why Did Snowflake Stock Drop 14% Last Month?
Snowflake(US:SNOW) The Motley Foolยท2024-04-08 11:05Snowflake's expensive valuation was unsustainable with its lukewarm forecast and CEO transition.Shares of Snowflake (SNOW 1.67%) fell 14.2% in March, according to data provided by S&P Global Market Intelligence. Investors reacted negatively to the company's quarterly earnings report on Feb. 28, in which it issued disappointing forecasts for next year and announced the departure of its CEO. This wasn't followed up with any more bad news in March, but it seems the market was skeptical of its expensive valuati ...