ServiceNow Inc is trading 5.3% down at $108.13 as part of a multi-session pullback following recent AI-driven gains.
- The decline is attributed to broad profit-taking in high-multiple growth and AI names rather than company-specific negative news.
- Market participants are rotating out of riskier assets ahead of key macro data and a high-profile SpaceX IPO.
- The move follows a period of strong performance fueled by early-June optimism surrounding the company's artificial intelligence prospects.