Snowflake (SNOW US) is a US-listed data business MM recently added to our International Portfolio, for those not familiar with the company it came to market when technology was running extremely hot in late 2019. The IPO had the who’s who of investors and it did spectacularly well, doubling in short succession but since then it has fallen away on the broader tech sell-off, however, this remains a business that is growing very strongly and is cash-flow positive. This is a more speculative stock, and our 3% position size reflects this although we could tweak it slightly higher if the correct risk/reward presented itself.
- Snowflake (SNOW US) looks poised to break above $US165 on the upside as it follows the tech recovery story.
MM likes SNOW and will consider increasing our exposure into pullbacks.
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