This Former Warren Buffett AI Stock Was a Market Darling in 2020, but Is Down 50% Today. Should Investors Buy the Dip?
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Multibillionaire and legendary investor Warren Buffett isn't known as a fan of technology stocks. But even he couldn't resist getting in on Snowflake (NYSE: SNOW) when the company went public in 2020 as one of the hottest IPOs in recent history.The cloud-based data warehouse platform was considered an obvious home run at the time in a world deep into the cloud era, with artificial intelligence (AI) enthusiasm growing and an AI revolution right around the corner.However, the stock has been a massive letdown. Approaching five years since its IPO, Snowflake stock trades down about 50% from its all-time high, and Buffett, who invested in the IPO via Berkshire Hathaway, has moved on, selling Berkshire's entire stake in Snowflake last year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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