Shares of cloud-data startup Snowflake spiked as much as 166%, to $310 per share, on its first day of public-market trading. Trading in the stock was halted shortly after opening due to volatility.
The company debuted on the New York Stock Exchange after raising $3.4 billion in its Wednesday initial public offering. The haul cemented Snowflake as the largest software IPO ever and the biggest share sale of 2020. The firm sold 28 million shares at $120 each, pricing the stock above its previous range amid strong investor demand. Snowflake's trading debut garnered Wall Street enthusiasm earlier in the month after legendary investor Warren BuffettSnowflake trades under the ticker SNOW. Shares traded roughly 130% higher, at $283.19, as of 12:47 p.m. ET Wednesday.
IPO initial ranges: 1. $75,00 - $85 2. $120,00 3. $215,00 SnowflakeIPO
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