Why Snowflake Stock Jumped Almost 12% in May
Shares of data company Snowflake (NYSE: SNOW) jumped 11.7% in May, according to data provided by S&P Global Market Intelligence. During the first few weeks of May, Snowflake stock went up by as much as 24%. Indeed, Stifel analyst Brad Reback upgraded Snowflake stock to a buy rating early in the month, in part citing the rise of generative AI as a business tailwind, according to The Fly.