Snowflake (SNOW) had its IPO on September 16, 2020, with a reference price of $120 but opened at $245 due to overwhelming demand. A $1,000 investment at the open bought roughly 4 shares. After peaking at $401 in November 2021, the stock fell to $120-$150 by early 2024. The $1,000 investment at the opening is worth approximately $490-$615 — still a loss from the frenzied IPO open.