Snowflake (NYSE: SNOW) is expected to start trading today. As of 11 a.m., the Snowflake IPO hasn’t opened for trading.
The company plans to raise $3.4 billion with its Initial Public Offering.
That makes Snowflake the biggest software IPO in history.
Snowflake originally planned to issue IPO shares within a range of $75 – $85. But that was before Berkshire Hathaway and Salesforce stepped up.
Each company agreed to buy $250 million of IPO shares. And that’s seen as an endorsement from the best value investor (Buffett) and the biggest software-as-a-service company (Salesforce).
Last night Snowflake announced that the IPO price is $120 – that’s 50% above the previous range.
Of course, the Pre-IPO investors stand to make the biggest profits.
The company’s valuation has surged 241% in 7 months!
Back in February, Snowflake sold Pre-IPO shares at a $12.4 billion valuation. Meanwhile, the Snowflake IPO price gives the company a $42.3 billion value.
The Snowflake IPO will likely begin trading by early afternoon. And I’d expect the stock to open above the $120 offering price.
Unfortunately, regular investors will have to wait for the stock to trade.
That’s because the IPO is being managed by Goldman Sachs, Morgan Stanley and JP Morgan. And these firms only let their super-rich clients BUY IPO shares.
While you’ve been shut out of the this IPO . . .
You can grab Pre-IPO shares of nine upcoming deals (click here for instructions).
These deals let ANY investor buy shares through a regular brokerage account – like E*Trade or Fidelity. And you can get started with just $10.
You do NOT need to be “accredited” with $1 million of net worth. You do NOT need any special paperwork or approvals. And you do NOT need connections on Wall Street.
Frankly, I’m surprised more investors aren’t jumping into these Pre-IPO deals right now.
One of my favorite upcoming deals is “the next Tesla Motors for 839% profits.”
Just click here and I’ll show you how to grab private Pre-IPO shares tomorrow!
Yours in Wealth,