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). Management had twice increased the price of the offering in the week leading up to its debut.
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. Late Tuesday, the price was boosted again to $120, and even that wasn't enough.
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Source Fool.com
