Snowflake shares tumble a day after IPO surge - CNBC
Share prices closed Wednesday up more than 111%, giving Snowflake a $70.4 billion valuation at the end of trading.
The company's market cap dropped in afternoon trading to about $62 billion. .
"A stock is worth exactly what somebody wants to pay for it," CEO Frank Slootman told CNBC just after the shares began trading Wednesday.
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