Snowflake Hit With Data Breach - What's Going On?
Portfolio Pulse from Anusuya Lahiri
Snowflake Inc (NYSE:SNOW) is under scrutiny due to data breaches affecting major clients like Santander Bank and Ticketmaster. Hackers claimed to have stolen millions of customer records, and Australian authorities confirmed several compromises. Snowflake acknowledged unauthorized access but found no direct system breach. The stock is trading lower, and investors can gain exposure via Vanguard Total Stock Market ETF (NYSE:VTI) and Vanguard Information Tech ETF (NYSE:VGT).
June 06, 2024 | 2:19 pm
News sentiment analysis
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NEGATIVE IMPACT
Snowflake Inc is facing scrutiny after data breaches affecting major clients. The company acknowledged unauthorized access but found no direct system breach. The stock is trading lower.
The data breaches have led to negative sentiment around Snowflake, causing the stock to trade lower. The company's acknowledgment of unauthorized access, despite no direct system breach, adds to investor concerns.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Vanguard Information Tech ETF (VGT) includes exposure to Snowflake Inc, which is facing scrutiny due to data breaches. This may have a minor negative impact on VGT.
VGT has exposure to Snowflake, and the negative sentiment around SNOW due to data breaches may slightly impact VGT's performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
Vanguard Total Stock Market ETF (VTI) includes exposure to Snowflake Inc, which is facing scrutiny due to data breaches. This may have a minor negative impact on VTI.
VTI has exposure to Snowflake, and the negative sentiment around SNOW due to data breaches may slightly impact VTI's performance.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30