Market Comment October 2020 - Chasing Snowflakes in September
Photo by Enes Tekeşin from Pexels Shares in Snowflake doubled on their trading debut in mid-September after the largest initial public offering ever for a US software company, in the latest sign of Wall Street’s huge demand for cloud computing service businesses. The Silicon Valley company’s stock jumped more than 160% above the IPO price to touch USD 315, sending the company’s market value to almost USD 90bn, before easing to a tad above USD 250 at the close in New York, and
