Why Snowflake Stock Declined by 11.7% in March

Why Snowflake Stock Declined by 11.7% in March
Royston Yang, The Motley Fool
·2 min read

The data cloud company saw its share price soar to a high of $390 after it went public in September last year, but it has since declined by around 41%. Snowflake's fourth-quarter and full-year 2020 earnings report last month showed that revenue more than doubled year over year from $264.7 million to $592 million. Net loss widened from $348.5 million to $539.1 million and the company also reported negative operating cash flow.