Overwhelming Demand Made Warren Buffett-Backed Snowflake the Biggest Software IPO Ever

Overwhelming Demand Made Warren Buffett-Backed Snowflake the Biggest Software IPO Ever

Expectations were high today going into Snowflake's (NYSE: SNOW) initial public offering (IPO). After initially pricing the stock in a range of $75 to $85 early last week, it was increased to $100 to $110 on Monday in the face of overwhelming demand. It traded as high as $319 in the minutes after opening, before the overwhelming demand and massive volatility caused trading to be temporarily halted.