SNOW - Here's 1 Artificial Intelligence (AI) Stock I'm Avoiding Like the Plague
2024-04-29 14:00:00 ET
2024 has gotten off to a sizzling start in the stock market. The S&P 500 is up 7%, while the tech-heavy Nasdaq Composite has rallied 6% as artificial intelligence (AI) euphoria continues to dominate.
One company that seems to have lost its groove, however, is Snowflake (NYSE: SNOW) . Shares of the database management company are down 21% so far this year. The reason? Concerns are growing that Snowflake has fallen behind in the AI gold rush.
Let's dig into the current status of Snowflake and analyze why this once high-flying stock could continue spiraling downward.
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Here's 1 Artificial Intelligence (AI) Stock I'm Avoiding Like the Plague