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Watch out for the Snowflake IPO today

San Mateo, California based Cloud-based data warehouse firm Snowflake, is set to begin trading on the New York Stock Exchange under the symbol “SNOW” on Wednesday.

Watch out for the Snowflake IPO today

San Mateo, California based Cloud-based data warehouse firm Snowflake, is set to begin trading on the New York Stock Exchange under the symbol “SNOW” on Wednesday and the offering is expected to close on September 18, 2020, subject to customary closing conditions. The investors were patiently waiting for this IPO especially after top American investor Warren Buffet with his holding company Berkshire Hathaway might want to secure shares with a volume of up to USD 250 million.

Snowflake has successfully placed 28 million shares at $120.00 per share, raising it some $3.4 billion at a valuation of over $33 billion. The company initially set its price range between $75 and $85 per share. It then raised the range to be between $100 and $110 per share. And now finally the company has reportedly priced above those ranges at $120.

The company reported $171 million in net losses for the six months ending on July 31, 2020. It lost $177 million during the same period in 2019, so losses have decreased year-over-year.

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McAfee shares open below IPO price of $20

McAfee shares open below IPO price of $20

Cybersecurity firm McAfee returned to Wall Street on Thursday and it commenced trading on the Nasdaq under the ticker symbol “MCFE”. In this IPO transaction, McAfee sold 37 million shares and raised $740 million in funds. McAfee is an antivirus software provider that provides cyber security solutions for data centers and cloud services.

Snap stock hits all-time high today. Here’s why

Snap stock hits all-time high today. Here’s why

Snapchat's parent company Snap Inc (NYSE: SNAP) shares surged more than 20% on Wednesday in pre-market trading after the company reported better-than-expected third-quarter financial results. The Social media company registered a 52% increase in revenue at $679 million in its third quarter.