"Snowflake CEO's Retirement and Stock Plunge: Assessing the Risks of AI Hype"
TL;DR
Snowflake stock plunges as the company issues a downward revision to fiscal year 2025 guidance and CEO Frank Slootman announces retirement, while Okta's shares soar after the company posts a strong fourth quarter earnings beat and raises its outlook. Snowflake's stock is on track for its worst day ever, despite beating on sales and revenue, indicating the high expectations for growth in the tech sector, while Okta is heading for a 52-week high with strong guidance for the year ahead.
- Snowflake stock plunges, Okta soars on Q4 reports Yahoo Finance
- Snowflake's Slootman says he's not worried about employee exodus: 'This is not a personal cult' CNBC
- Snowflake's Frank Slootman to Retire From CEO Role, Will Remain Board Chair Yahoo Finance
- Snowflake’s stock heads for worst day ever — and could stay in the ‘penalty box’ MarketWatch
- Snowflake Stock Post-Earnings Tumble Reveals the Risks of AI Hype Barron's
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