Snowflake (NYSE:SNOW) pioneered the data cloud, a platform that helps clients manage and make sense of big data. Of course, data is knowledge and knowledge is power, but that’s only true if you have the tools to harness data and unlock its value. And that’s become increasingly difficult as enterprises are generating data at a phenomenal pace. So Snowflake attempts to solve a critical problem.
In a somewhat surprising move, Warren Buffett’s Berkshire Hathaway invested $735 million in this high-growth tech stock around the time of its initial public offering last September. Since then, Buffett has seen big gains, and his position in Snowflake is now worth $1.5 billion.
In this Backstage Pass video, which aired on Aug. 26, 2021, Motley Fool contributors Trevor Jennewine and Brian Withers discuss Snowflake’s second-quarter earnings. Spoiler alert: The company crushed it.
Trevor Jennewine: The gist of Snowflake’s business, enterprises are creating a lot of data today and it’s spread across a lot of different systems. The idea behind snowflake is to bring all of that data together so that you can use it to make an informed business decisions, essentially. To solve the problem of data sprawl, they’ve created the data cloud, and this combines a lot of old legacy tools or point solutions like pipelines and data lakes, data warehouses.
Top 5 Warren Buffett Stocks To Watch Right Now: International Speedway Corporation(ISCA)
International Speedway Corporation, together with its subsidiaries, promotes motorsports themed entertainment activities in the United States. Its motorsports themed event operations consist principally of racing events at its motorsports entertainment facilities, which promote approximately 100 stock car, open wheel, sports car, truck, motorcycle, and other racing events. The company is also involved in souvenir merchandising operations; food and beverage concession operations; the provision of catering services in suites and chalets; and the creation of motorsports-related programming content carried on radio stations, as well as Sirius XM Radio, a national satellite radio service. In addition, it uses its motorsports entertainment facilities for testing for teams, driving schools, riding experiences, car shows, auto fairs, concerts, and music festivals, as well as settings for television commercials, print advertisements, and motion pictures; and rents show cars for promotional events. The company owns and/or operates 13 motorsports entertainment facilities with approximately 763,500 grandstand seats and 548 suites. The company was formerly known as Daytona International Speedway Corporation and changed its name to International Speedway Corporation in 1968. International Speedway Corporation was founded in 1953 and is headquartered in Daytona Beach, Florida.