Stock Market Today With Jim Cramer: Buy Snowflake Stock

Stocks rose Thursday as the number of Americans filing for first-time unemployment benefits pointed to a gradual recovery in the labor market and investors focused on movement on a potential stimulus bill that has been deadlocked in Congress for months.

TheStreet’s Katherine Ross discussed breaking news in the stock market. Cramer spoke about Snowflake and Splunk earnings and the latest stats from the jobs report released today.

Snowflake: Buy Or Sell?

Shares of Snowflake  (SNOW) – Get Report jumped on Thursday, rising to their highest level since the company began trading in September, a day after the cloud-data platform provider posted stronger-than-expected third-quarter sales that sparked analyst price-target upgrades.

Cramer said we were hoping Snowflake would goof under $200. “In retrospect, that was way too greedy. The lowest it went is $208. It’s selling at 100 times sales which is very difficult to swallow. I don’t know how you can not hire them [Snowflake]. You want to have the algorithms that they have. The only companies that seem to know more about their customers are Alphabet  (GOOGL) – Get Report and Facebook  (FB) – Get Report because they are really algorithmically built.”

Source Article

  • Partner links