SNOW - 1 Unusual Warren Buffett Growth Stock Down 52% to Buy in 2024
2024-01-26 06:00:00 ET
In September 2020, Berkshire Hathaway made an unusual move. The famous investment conglomerate bought stock in a company at its initial public offering (IPO) -- something it hadn't done since Warren Buffett became the company's CEO in May 1965.
Most likely under the advisement of one of Buffett's top investment lieutenants, Berkshire invested $735 million in Snowflake (NYSE: SNOW) at a price of $120 per share. While the company's stock has battled through volatility and is back to trading well above that level, it's still down 24% from its price at market close on the day of its IPO. Even more striking, the company's share price is down 52% from the high that it reached in February 2021.
If you're looking for Buffett-backed investment opportunities with explosive potential, read on to see why investing in Snowflake while it's still down big would be a smart move.
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1 Unusual Warren Buffett Growth Stock Down 52% to Buy in 2024