ServiceNow Inc. (NYSE:NOW) stock is on track for its worst week in a decade, tumbling 19% and cementing its spot as the S&P 500’s worst performer over the period.
The slide marks NOW’s steepest weekly drop since 2016 and represents a sharp reversal for a stock that investors had treated as a high‑quality way to play digital transformation and enterprise AI.
- NOW stock is tanking. See the chart and price action here.
NOW Sells Off
The selloff has been driven by a sharp de‑rating of high‑multiple software companies amid worries that AI could compress pricing power across traditional SaaS.
Meta Platforms (NASDAQ:META) and Anthropic each announced new models and Michael Burry chimed in with more bearish commentary pointed at Palantir Technologies (NASDAQ:PLTR) specifically, but that could be applied to …
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