Good companies occasionally encounter bad circumstances. Just look at application software specialist Snowflake (NYSE:SNOW). As a cloud-computing data storage and analytics powerhouse, Snowflake should know everything there is to know about cloud networks, particularly regarding aberrant data volume and cyber breach vulnerabilities. However, a data-compromising event that impacted hundreds of customers suggests otherwise. Reputationally, it doesn’t look good for Snowflake. Not surprisingly, Wall Street threw SNOW stock out into the alley for a good old-fashioned beatdown.
However, when drilling into the details, it’s not entirely clear that the underlying enterprise was wholly at fault. It shouldn’t be let off the hook, but the severe meltdown in the share price seems like an overreaction. For contrarian investors, you can probably sense where I’m going with this. Snowflake’s business has been robust and is projected…
