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Snowflake – Winter is coming lads SNOW is about to take tf off

PPS at last close – $249

ATH – $429

Over 40% off ATH.

Discount can be attributed to lockup expiry and growth stocks getting killed in general. SNOW found support at roughly $184 in mid May and has bounced 27% since. I still love the entry point. SNOW has a crucial competitive advantage of efficiently crunching data from multiple lakes. Not even MSFT or Amazon have that same capability of compiling data from multiple lakes. That is why almost 40% of the Fortune 500 companies use Snowflake.

Released their plan to reach 10B in revenue by the year 2029 which would be a compounded annual growth rate of 44%. Huge things in store for this company and the price where it’s at today is too good to pass up.

Lovely cup and handle forming on the 3 month chart. RSI has been steady as it’s been consolidating lately. This is due for a breakout higher.

What do you think?

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9 Comments

  1. My entire IRA is cloud and big data. It trades at a premium but what doesn’t these days. Anyway is not that I would be able to use the money in the next 40 years.

    Portfolio: MSFT SNOW AMZN GOOGL PLTR CLFT.

  2. This fucking stock cost me $2400 last week because it had the fall to sell off right before my vertical sprwlead expired. And now it’s back above the necessary strike 2 days in. The joys of gambling.

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