I haven’t seen any posts addressing strange SNOW price action today. Stock traded down after-hours yesterday after guiding next Q revs well below consensus
Same reason CRWD & ZS tanked. However, SNOW rallies back hard and has a big up day as CEO Slootman laughs and says ‘the guidance is the guidance’ and all the penguins give them a pass and switch the narrative to FCF margins for 2024!
FCF margins for 2024 will approach 23% on 3.1 B in revenue on a 50B valuation and that made everyone feel warm and fuzzy inside???
Anyone that can help me understand this better would be appreciated. I didn’t lose money on it but this is the type of price action that can sometimes catch me thinking I’m smarter than the market (ie…getting stubborn – and that never ends well).
Leave a Reply