Snowflake Inc (NYSE:SNOW) shares are falling in extended trading on Wednesday after the company announced a CFO transition.
SNOW stock is down after hours. See what’s going on here.
What Happened: After market close, Snowflake announced that it appointed Brian Robins as CFO, effective Sept. 22. Robins will replace Mike Scarpelli, who is retiring and will stay with Snowflake for a period of time to ensure a smooth transition.
Robins will oversee Snowflake’s financial strategies to support its growth and long-term health, and will lead the global finance organization, including planning, treasury, tax, reporting and investor relations.
“Brian’s deep commitment to operational rigor and long-term high growth aligns perfectly with the strategic direction of Snowflake. We have an enormous opportunity ahead of us and he’ll be an invaluable partner in our mission to empower every enterprise with data and AI,” said Sridhar Ramaswamy, CEO of Snowflake.
How To Buy SNOW Stock
By now you're likely curious about how to participate in the market for Snowflake — be it to purchase shares or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
SNOW Price Action: Snowflake shares were down 2.76% in after-hours, trading at $223 at the time of publication on Wednesday, according to Benzinga Pro.
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