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Snowflake Inc (NYSE:SNOW) shares are trading higher on Monday. The stock is gaining traction even as the Nasdaq falls 0.69% and the S&P 500 sheds 0.41%.
Investors are rotating back into growth-oriented cloud and software names. This follows a prolonged “SaaSpocalypse” sell-off that erased billions in market cap.
• Snowflake stock is showing exceptional strength. What’s fueling SNOW momentum?
Moving Past SaaSpocalypse Fears
The recent downturn stemmed from fears that AI agents would erode subscription growth. High-profile names such as Salesforce Inc (NYSE:CRM) and Cloudflare Inc (NYSE:NET) faced sharp selling pressure.
However, the tide is turning. Wedbush analyst Dan Ives labeled the …
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