May. 29 at 7:02 PM
Remember earlier this year when software names got absolutely crushed?
Nearly
$2T in software market cap evaporated in a short span. The narrative was loud: AI agents will replace SaaS. Everyone piled into the same fear trade and hit sell on names like
$PLTR $CRM $NOW $HUBS $DDOG.
Fast forward a few months and the tone has flipped again. Same companies, same products, but now the conversation is AI as a demand accelerator, not a destroyer.
That’s the part the market keeps repeating. It doesn’t just price the future, it overextends the latest fear or optimism like it’s permanent.
We’ve seen this cycle before, just with a different label each time.
