What happened Shares of Snowflake (NYSE: SNOW), a cloud-based data warehouse company, jumped on Friday. The stock rose as much as 10.4%. As of 11:00 a.m. EST, however, the stock was up 7%. The stock's gain was likely fueled by a combination of an upbeat day in the overall market and particular strength in growth stocks like Snowflake. Image source: Getty Images. So what Investors are in a buying mood on Friday. The S&P 500 is up 0.4% as of this writing. The tech-heavy Nasdaq Composite, however, is up 1.1%. Even more, many growth stocks like Snowflake are up several percentage points or more. For instance, electric-car maker Tesla, videoconferencing specialist Zoom Video Communications, and cloud network services provider Cloudflare are all up about 4% to 5% as of this writing. Snowflake went public in September at a steep valuation and has been winning over even more investment recently, with the company's market capitalization surging to more than $90 billion. With a year-over-year revenue growth rate of 121% in Q2, the investors likely believe these are still early days for Snowflake. Now what Investors, of course, should be mindful of the company's pricey valuation. With a $90 billion market cap and just $403 million in trailing-12-month revenue, the market has arguably priced in incredible growth for years to come. Investors will get an update on Snowflake's business on Dec. 2, when the tech company will report its first quarterly results as a publicly traded company. 10 stocks we like better than Snowflake Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Snowflake Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Cloudflare, Inc., Snowflake Inc., Tesla, and Zoom Video Communications. The Motley Fool has a disclosure policy.Source