A Snowflake’s chance in hell

[The beef 675] [I'm an image] “Dwight Eisenhower was President last time Berkshire invested in an IPO. ” - Jason Hey there carnivores, Markets were mixed Wednesday, as tech continues to stumble. Today we’re looking at Snowflake taking its talents public. Keep raging, Jeff & Jason [Image] [I'm an image] Snowflake is red hot Warren Buffett just went from six to midnight (sans meds) for the first time in 35 years. Snowflake, a cloud data-warehousing company hit the ground running yesterday, debuting on the NYSE at $245 per share. This is juuuust a bit higher than the $120 pricing announced a day earlier, and certainly an increase from the initial price range of $75 to $85. Shares closed at $253.93, [up 111.61%]( from its $120 IPO price. Get the wheelbarrow out Snowflake sold roughly 28M shares through its public offering, [raising somewhere between]( $3B and $4.5B in the process. The company was worth “only” $12.4B back in February, but thanks to, presumably, Robinhood traders, it now has a valuation of nearly $70.5B. And you thought you had a productive workday. It holds the record for the largest software IPO in history and is now the most expensive tech stock in terms of market capitalization to sales ratio. The 175x figure [is roughly double]( Zoom’s of 87x. Suck it, Eric Yuan. The bottom line... Another hot IPO that I missed out on. But you know who did throw a few bucks in the pot? Warren Buffet and Berkshire Hathaway. Berkshire [hasn’t invested in an IPO]( since Ford went public in 1956, yet managed to get off the sideline for $SNOW thanks to some convincing by Geico CEO Todd Combs and investment manager Ted Weschler. The conglomerate bought $250M of stock at the IPO price range of $100 to $110, and an additional 4.04M shares at $120. Running the numbers, Berkshire made nearly $1B on the day... [Image] [Alternate text]( Jason Bond Is Dropping His Brand New Watchlist Tomorrow It’s A Chance To Catch... Monday’s Biggest Stock Movers A Day In Advance For A Limited Time It Can Be Yours For 88% Off [Subscribe Now]( [I'm an image] ☑️Follow the leader. On the heels of a report that a JPMorgan equities trader caught COVID, Deutsche Bank isn’t taking any chances. The firm [told]( US employees that they can expect to be home until at least July of 2021. This is arguably the only thing that DB has done better than JPM in, well, forever. While JPM often sets the tone for the BBs on Wall Street, just days after telling its senior employees to report on September 21, it revealed that an employee at its NYC office tested positive for COVID. Other banks, like Bank of America, will have employees back by at the end of October, while UBS said it would be waiting even longer than that. Good for those banks, not jumping off the bridge just because Jamie Dimon told them to. ☑️Save us! Airlines are once again asking for your financial support. This time, the airlines and associated labor unions are looking for [another $25B]( in federal aid. As the previous $25B runs out, so does the stipulation that airlines receiving aid can’t lay off employees. Without more money, more than 30k workers could be walking the plank as the first of the month rolls around. Do they get to keep their accumulated miles at least? The new $25B that the airlines are asking for would preserve jobs until at least March of 2021. Wishful thinking that people will be traveling by then, but you do you, airlines. ☑️Broken trust. Facebook could be facing an antitrust suit from the FTC soon, according to insiders. The FTC has [been investigating]( the social platform for over a year, building a case that Zuck stifles his smaller competition by just buying them before they get big. Despite the preparations, preparation doesn’t always mean a lawsuit will be brought forth. In 2013, the FTC was “preparing” to bring a suit forth against Google, before ultimately deciding against it. Whether or not Google planned to release the FTC members’ search histories is beside the point, but I see why you’d ask. ☑️Here we HB-Go. AT&T, taking a page out of NBC’s Peacock book, is planning to release a cheaper version of its HBO Max platform for less. The catch? It will have ads. I’ll watch all the ads it takes to save $3 a month. HBO’s ad-based platform [will face off]( against the likes of Hulu and the aforementioned ‘cock in offering a cheaper service that's sustained via ad revenue. The move is quite the departure for HBO, which has been commercial-free for its entire 47-year history. If I had to watch Game of Thrones with an ad right before the death of the Night King, I’d have heaved my 55 inch TV out of a third-floor window, so that’s understandable. The bar for sign ups isn’t very high, with AT&T saying that it wanted the combined subscriber base of HBO and HBO Max to hit 36M by the end of 2020. HBO and HBO Max had 34.6M subscribers at the end of 2019, so the goal is another 1.4M sign ups in a full calendar year while we’re all stuck at home with nothing to do but stream... RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website,application or other service ("Services"), please review our full disclaimer located at [(disclaimer. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. AnyRagingBull Service offered is for educational and informational purposes only and should NOT beconstrued as a securities-related offer or solicitation, or be relied upon as personalizedinvestment advice. RagingBull strongly recommends you consult a licensed or registered professional before making any investment decision. 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