First reason is that it is trending up. I never buy a stock unless it is trending.
Second is I’m computer programmer and have worked in big data for 20 years. The main issue with big data it is really hard to handle in house. Most places don’t have expertise to manage the hardware, backups, data indices, scaling etc. The IT managers want product that is easy to manage and is scalable. Snowflake seems to be easiest solution from hassle perspective.
Data needs continue to grow. There is no data like more data.
Company is said to be overvalued but seems tech is perpetually over valued.
[link] [comments] https://www.reddit.com/r/stocks/comments/14z29hj/put_a_small_position_in_snow_today/
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