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ServiceNow shares drop 7% on oil jump, blockades

Watch: Watch the next earnings call for updates on AI revenue growth amid macro headwinds.

Full analysis

ServiceNow stock dropped over 7% amid a broader market decline triggered by oil prices jumping over 8% following President Trump's Strait of Hormuz blockade order. June S&P 500 and Nasdaq 100 futures fell 0.62% and 0.64%, respectively. Despite this, Mizuho maintains an Outperform rating and an insider purchased $3M in shares recently.

The sell-off indicates sensitivity to macro risks despite strong fundamentals and insider confidence, suggesting near-term volatility amid geopolitical tensions.

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Evidence

15 signals · latest 21h ago

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