Cold hard cash: Cloud data warehouse spinner Snowflake gains $8bn in nominal value since Feb as IPO nears

Cloud data warehouse specialist Snowflake looks set to file for an IPO valuing the company at $20bn – more than 13 times its valuation of $1.5bn back in January 2018. The new figure – reportedly contained in a confidential IPO filing with the US Securities and Exchange Commission – signifies the prodigious rise of the business …

[hoola]

Why?

This is the perpetual cycle of venture capitalist funds support by the morons that buy the stocks. It is all virtual money, it does not exist, it is just "the market" (whatever the hell that is now) pushing numbers round computer systems.

There used to be a time when a company was valued according to real assets.