Technology investors holding software stocks are keen to watch for a rebound. Ahead of its red-hot IPO, Anthropic introduced AI-related headlines that threatened to take SaaS’s market share.
Adobe Systems (ADBE) closed at a fresh 52-week low at $229.17. Selling spread to established names, including Salesforce (CRM), Autodesk (ADSK), ServiceNow (NOW), and Zscaler (ZS). ZS stock is especially noteworthy: cybersecurity demand will only increase as criminals use AI to phish, hack, or scam corporations.
In the cybersecurity stocks, watch Palo Alto (PANW) and CrowdStrike (CRWD). They have compelling solutions that corporations will continue to need.
On April 8, Axon Enterprise (AXON) announced that it would add more AI to its products. AXON stock jumped by up to 11% that day. But sellers returned, sending the stock down the following day.
Texas Pacific Land (TPL) is up by 7% this morning, recovering from its $375 lows the day before. Horizon Kinetics CEO and TPL board member Murray Stahl passed away suddenly on April 7. Horizon Kinetics has been one of TPL’s largest shareholders for several decades.
Investors listening to the mergers and acquisitions rumor mill should look at Brown-Forman (BF.B). Sazarac is reportedly considering bidding for the supplier of Jack Daniel’s. Sazerac has 550 brands. That includes Southern Comfort whiskey, Buffalo Trace bourbon, and Fireball Cinnamon Whisky.
BF.B stock was due for a rebound ever since Constellation Brands (STZ) shares broke out earlier this month.
Related Stories
