Stocks gave up early gains this morning after the Labor Department reported disappointing job creation numbers for August. Just 235,000 non-farm payrolls were added last month, much less than the 720,000 economists had expected.
Fed officials are watching employment data closely as it will influence their decision on when to begin easing back their monthly bond purchases, and August’s numbers likely give them ground cover to potentially not approach the taper as aggressively, but only time will tell. Tech shares inched higher amid the uncertain outlook for the economy. We’ll see where we finish the final trading session ahead of the three-day weekend.
Every company on the planet is now chasing the cloud. This trend also got a huge boost from the pandemic, and it’s now in panic mode. Because the resurgence of virus cases is causing delays in office-reopening plans, cloud companies are expected to witness high demand for their products and services. Furthermore, amid the ongoing digital transformation of almost every industry, the need for safe and efficient cloud platforms should drive the cloud industry’s growth. The cloud computing market is expected to grow at an 18% CAGR to $303.07 billion by 2025.
In today’s trade alert, we’ll highlight one firm that’s poised to gain steam as the trend develops.
True Market Insiders:
Why December 31st Could Set Off A “Tech Boom” In Stocks
Thanks to the rare convergence of three economic triggers, the clock is ticking down for a once in a lifetime wealth building opportunity. [Here’s how to play it.]
Snowflake provides ways for companies to better utilize their data over the internet. The company offers cloud-based data storage and analytics, generally termed “data-as-a-service.”
This is a simplified statement of what they do. Just know that what they provide is very practical. SNOW was an early mover, and their potential is very real. So real, in fact, that even Berkshire Hathaway (BRK-B) jumped on the bandwagon. That was a huge surprise because of how long it took them to buy Apple (AAPL) stock. Warren Buffett had long shied away from tech, and to see them embrace Snowflake is comforting.
On July 14, 2021, SNOW unveiled its Unified ID 2.0 to help organizations easily enrich audience data without sharing consumers’ personally identifiable information (PII). With Unified ID 2.0 support, SNOW’s customers should be able to optimize their data-first advertising strategies by directly activating audiences on any platform that has adopted Unified ID 2.0.
SNOW’s revenues for its fiscal second quarter, ended July 31, 2021, increased 104.4% year-over-year to $272.20 million. The company’s gross profit came in at $189.75 million, up 125.4% from the prior year period. Its operating loss declined 62.4% year-over-year to $21.90 million. While its net loss increased 144.4% year-over-year to $189.72 million, its loss per share decreased 51.1% year-over-year to $0.64. As of July 31, 2021, the company had $698.55 million in cash and cash equivalents.
It’s been a rocky road for Snowflake since its IPO last year, but the share price seems to be stabilizing and may continue to build steam in the months and years to come.
Where to invest $1,000 right now...
Before you consider buying Snowflake, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Snowflake.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...
Rare 19¢ trade for 5,100%
Penny Trades” are cheap and explosive… Warren Buffett grabbed 46 million of them for 1¢ a pop. Right now, he’s up as much as a rare 4,429% on this trade. But “Penny Trades” aren’t reserved for billionaires like Buffett. Thanks to SEC loophole 30.52, you can play them in your brokerage account. One of these “Penny Trades” shot up 183% in one day… Penny Trades can pay far MORE than stocks… Our readers just saw a 19¢ trade shoot up as much as a rare 5,100%… Here’s the #1 “Penny Trade” for RIGHT NOW. [REVEAL TICKER]