"Snowflake's Stock Plunge: CEO Switch Sparks Worst Day Ever"

Snowflake Inc.'s stock plunges nearly 23% in premarket trading following the surprise announcement of CEO Frank Slootman's departure and disappointing fiscal 2025 guidance, potentially wiping out $17 billion from its market capitalization. Analysts express concerns about growth durability, management credibility, and the need for the new management team to prove their ability to reliably estimate and communicate growth expectations. Despite the challenges, some analysts see potential upside in new products and the leadership of the new CEO, Sridhar Ramaswamy, while others remain cautious due to valuation concerns and the company's shift away from externally managing its long-term targets.