Snowflake Inc (SNOW)

SNOW's stock fell 16.50% after the company announced financial results for the fiscal first quarter of 2024 and lowered its forward guidance. In Q1, Snowflake generated product revenue of $590 million, up 50% year over year. However, Snowflake's management noticed slowing growth after Easter, which led to a slower-than-expected April. The company lowered its full-year revenue guidance. For fiscal 2024, it had guided for 40% growth for product revenue but now management is guiding for just 34% year-over-year growth, which is a substantial reduction.

https://www.fool.com/investing/2023/05/25/heres-why-snowflake-stock-sank-like-a-rock-today/