May. 13 at 9:33 PM
Software names getting hit again.
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$CRM,
$WDAY,
$ADBE all sliding back toward fresh lows after a weak bounce that didn’t stick.
$CRM alone is down ~11% since last Thursday — momentum just keeps rolling over.
Narrative is flipping fast here: anything tied to “AI efficiency + enterprise software disruption” is now trading more like a headwind story than a growth story.
Call it what you want — rotation, repricing, or just trend exhaustion — but the tape is still heavy. The so-called “AI doom trade” isn’t fading yet… it’s accelerating into dips instead of reversing them.