Yesterday ServiceNow shares fell 6.47%, This happened because a company called Pegasystems had some bad results which they attributed to the rise of AI. Then ServiceNow announced Q2 results and in after hour trading, the stock has climbed back 5.56% as of writing this.
There are many situations going on like this. IBM's fall because of reduced infrastructure spending led to a fall across SaaS, but the two things are entirely different.
This demonstrates to me how poor and simplistic most stock analysis is. Pegasystems aren't even in the same business as ServiceNow. They do "no code" programming solutions, and well, yes, I'm not surprised that's being hit when vibe coding is making regular software development more efficient (but don't get too carried away on it). That's an entirely different business to ServiceNow. If you know what's going on, you have an edge here.
(and yes, I topped up at 98.3).