Snowflake Inc. (NYSE: SNOW) filed an 8-K document with the SEC after its CRO made financial statements during an interview with an influencer, attracting over 555,000 views on TikTok and 138,000 likes on Instagram. The filing clarified that the CRO is not authorized to disclose financial information, cautioning investors against relying on such statements.

In the interview, the CRO predicted Snowflake would reach over $4.5 billion in revenue by year-end and $10 billion within a few years, contrary to the company’s official guidance. The influencer, James Dumoulin, with 5.6 million followers on TikTok, and the CRO have not responded to requests for comment on the issue.

This incident underscores the risks of executives sharing financial information on social media and emphasizes the need for clear communication guidelines for company representatives. It also shows the influence of social media on investor decisions and may prompt companies to review their policies on executive communications to avoid similar situations.

Read more at Yahoo Finance: Snowflake’s CRO Mike Gannon’s Instagram Interview With Influencer James Dumoulin Triggers SEC Filing