 Hey guys, Eddie here with another video today. We're going to be discussing the recent IPO snowflake So this is a cloud data platform, and it's raised an icy cool 3.4 billion dollars. This actually valued the company at 33 billion dollars. So not a small sum by any means. This is the largest IPO Year-to-date and actually the largest ever for a US software company. So originally It was indicated to come out and start trading at around a hundred and twenty dollars Snowflake originally priced above the expected range of around a hundred to a hundred and ten dollars and that Hundred and two a hundred and ten dollars had already increased by about 25 percent Pre-IPO as snowflake got some investors on board and caught the attention of Berkshire Hathaway So Warren Buffett's firm is investing seven hundred and thirty five million into snowflake And Salesforce also won a piece of the action. They're purchasing 250 million dollars. So it's really interesting to see Warren Buffett actually trying to Definitely getting a piece of this kind of new era tech company. Obviously this year He's had a huge win with Apple another tech company Obviously, but he's been kind of on the wrong wrong side of a few airlines and things like that that have been wisely reported And this is just really a sign of the times Look the emerging cloud index is up around 60 percent year today and that is already two times as Two times higher than the Nasdaq return, which is already a tech heavy index So in contrast as we know the real economy suffering and indices like the Russell 2000 Which are more tied to that real Economy, you know with sectors like energy and let's say regional banks as an example They're really suffering. They're down about 8% year to date But this IPO really is indicating the insatiable appetite for tech names amidst amidst this pandemic as work from home becomes you know a more normal theme and the virtual world or portions of it You know really take precedent But the news has just come out that actually Snowflake is going to start trading at around 235 billion Okay, so double what it was expected and indicating to open up Which is crazy and that would indicate a market cap of around 66 billion That is two times as big as Twitter as reported by zero hedge, which is insane a real interesting kind of Stat iconic capital. It's a multi-family office. They have clients like Facebook's Mark Zuckerberg Twitter's Jack Dorsey And they took part in multiple Snowflake funding rounds beginning in 2017 It has a 12% stake in Snowflake and it purchased that for around 245 million. Okay, this is now worth More than four billion Okay, if it IPO that The indicator range it was meant to now This is worth something like 8 billion if it indeed does open at around $235 so just insane gains and you've got to think that this is also, you know capturing the imagination and creativity of the Robinhood traders more and more kind of widely. I'm talking about the retail retail traders So we've all seen seen this cool option bonanza where we've seen, you know, lots of volume coming through with really Close to expiry call buying Which is leading to? Dealers rushing to cover cover their short Delta and gamma exposure and then this flow and the dealer hedging Where they then have to go and buy stocks is causing, you know, a huge amount of momentum up In these kind of tech names specifically and of course you've then got the hedge funds kind of circling And you making use of that data and no doubt they will be riding that momentum upward. So Yeah, just wanted to get on the mic and discuss this snow is indicated to open at around 235 to $240 so I'm gonna gotta love it if you're an early investor in snowflake, but also if you've got an allocation to that IPO So I hope you enjoyed that short video. Take care