SNOW, CHPT, IRNT, BBY, TELL: Trending Stocks Today 3 March

By Kirsteen Mackay


In this article

  • Loading...
  • Want to see what you should be buying? Check out our top picks.

Stocks trending today include Snowflake (NYSE: SNOW), ChargePoint (NYSE: CHPT), IronNet (NYSE: IRNT), Best Buy (NYSE: BBY), and Tellurian (TELL).

Trending Stocks

S&P futures are down 0.2% in Thursday morning trading. Fed Chair Powell continues to believe it’s appropriate to raise rates in March, although the Ukraine war is adding uncertainty.

Oil prices extend rally, closing in on $120 a barrel. Meanwhile, more than 8% of global supplies are disrupted as companies and countries shun Russian oil.

Oil up, gold up and Bitcoin (BTC) down.

Here are five of today’s trending stocks:

Snowflake Inc (NYSE: SNOW)

Investors are discussing Snowflake Inc (NYSE: SNOW) on Thursday, after the company’s stock plummeted over 20% in after-hours trading. Snowflake released its earnings report for fiscal Q4 and full-year 2022.

Snowflake projects product revenue growth for fiscal Q1 2023 to come in between 79% and 81%. This indicates a slowdown in product revenue growth which is spooking investors.

Furthermore, Snowflake announced it is acquiring data start-up Streamlit for $800m.

Over the past year, Data Cloud company Snowflake Inc (SNOW) has traded between $184.71 and $405. Today it hovers around $209.

Q4 Highlights

  • Revenue: $383.8m (101% Y/Y growth)

  • Product Revenue: $359.6m (102% Y/Y growth)

  • Product Gross Profit: $257.2m (72% margin)

  • Operating Income: -$152m (-40% margin)

F/Y Highlights

  • Revenue: $1,219m (106% Y/Y growth)

  • Product Revenue: $1,140.5m (106% Y/Y growth)

ChargePoint Holdings Inc (NYSE: CHPT)

ChargePoint Holdings Inc (NYSE: CHPT) stock is up over 7% in pre-market trading. The company announced its intention to acquire Viriciti BV for EUR75m ($87.9m) in cash, subject to adjustments.

This acquisition will enhance ChargePoint’s charging network fleet solution.

Founded in 2012, Viriciti BV is located in Amsterdam and develops an online tool that predicts the energy usage and savings per route of driving electric vehicles.

Yesterday, CHPT stock closed at $14.07, down over -60% from its 52-week high vs the subsector average change of -28.0%.

IronNet, Inc (NYSE: IRNT)

Cybersecurity firm IronNet, Inc (NYSE: IRNT) is trending today as it announces it’s enhancing its collective defense platform with automation. The addition of automation capabilities to its cybersecurity platform will help security operations center analysts confirm their enterprise network is safe from cyber-attacks.

Shares in Ironnet Inc (IRNT) closed at $5.50 on Thursday after shares jumped by 12.94% during Wednesday's session. Today it has slipped in pre-market trading.

Ironnet is a small American company with a $487m market cap. Its price-to-book value is 8.3 which indicates an overvalued and highly speculative investment. Despite rising to a 52-week high of $47.50 in September, IRNT shares have since plummeted over 88%.

Best Buy Co Inc (NYSE: BBY)

Shares in Best Buy Co Inc (NYSE: BBY) are up over 8% in pre-market trading. Despite narrowly missing analyst estimates on earnings and revenue, the company’s future projections are encouraging. This is helping keep investors engaged and hopeful patience will pay off.

Best Buy is a consumer retailer of electronics and did well during the pandemic. Its holiday sales in Q4 were disappointing due to inventory constraints.

Q4 Highlights

  • GAAP Diluted EPS: $2.62

  • FY22 GAAP Operating Income Rate: 5.9%

  • Dividend: $0.88 per Share (up 26%)

FY23 Guidance

  • Revenue: $49.3bn to $50.8bn

  • Non-GAAP Diluted EPS: $8.85 to $9.15

Matt Bilunas, Best Buy CFO commented:

“In FY22, we returned $4.2bn to shareholders in the form of share repurchases and dividends. Today, we are announcing a 26% increase in our quarterly dividend to $0.88 per share and our plan to spend approximately $1.5bn in share repurchases in FY23.”


Tellurian Inc (NYSEAMERICAN: TELL) stock is trending today as its share price slips 2.2% in pre-market trading. After rising 76% in a month, shareholders are closely watching moves in this US natural gas company.

Tellurian is advancing its Driftwood LNG project in Louisiana. Once complete, the terminal will be able to export up to twenty-seven million, six hundred thousand tonnes of LNG per year to customers worldwide.

Octávio Simões, President and CEO of Tellurian, said,

“The global economy is in the early stages of an energy super cycle driven by strong demand for natural gas and several years of underinvestment in energy infrastructure. Tellurian is optimally positioned with fully executed market-based LNG SPAs and a permitted project. Bechtel will begin construction of Driftwood LNG in April and we will seek to conclude the financing process shortly thereafter.”


In this article:

Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of, has not been paid for the production of this piece by the company or companies mentioned above.

Sign up for Investing Intel Newsletter