After Historic IPO, Is Snowflake (SNOW) A Serious Competitor In The Cloud Industry?

How should you trade Snowflake (SNOW) in this environment?

Given the massive hype and valuation of the stock, especially in such a highly competitive environment with tech giants like Amazon (AMZN), Microsoft (MSFT) and Google (GOOG) offering similar cloud services as Snowflake, we are considering long engagements, from a risk-reward perspective, as unattractive. In terms of longer-term investments, we would wait, especially given the quite extended mode in Equities and, most likely, also in tech stocks in the US:

 SNOW 5min chart

Source: Admiral Markets MT5 with MT5SE Add-on SNOW 5min chart (between September 16, 2020, to September 21, 2020). Accessed: September 21, 2020, at 08:00 AM GMT - Please note: Past performance is not a reliable indicator of future results, or future performance.

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Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") ...

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