Michael Burry backs Veeva, calls Snowflake overvalued after earnings beat
Michael Burry said he remains bullish on Veeva Systems (VEEV) but called Snowflake (SNOW) very overvalued, citing Snowflake shares surging more than 23% following an earnings beat.
Michael Burry (Trades, Portfolio) is drawing a clear distinction between two software stocks benefiting from the AI boom, remaining positive on Veeva Systems NYSE:VEEV while saying Snowflake NYSE:SNOW is very overvalued. The view comes after Snowflake shares surged more than 23% following another earnings beat, with the source text trailing off after that point.