This Is What Whales Are Betting On Snowflake
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Snowflake (NYSE:SNOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. Whales have been targeting a price range from $100.0 to $180.0 for Snowflake over the last 3 months. Exane BNP Paribas, Oppenheimer, and Scotiabank have given price targets of $173, $220, and $213 respectively.
August 11, 2023 | 6:00 pm
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Snowflake has seen significant options activity indicating a bearish stance by a large investor. The sentiment among these traders is more bearish than bullish. Analysts have given varied price targets.
The bearish stance taken by a large investor, as indicated by the unusual options activity, could potentially drive the stock price down in the short term. The varied price targets given by analysts also add to the uncertainty around the stock's future performance.
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