To The Moon

I'm continuing to DCA into $ServiceNow(NOW)$ and, importantly, I'm comfortable averaging up rather than waiting for the stock to return to my previous entry price. For me, the key question isn't whether NOW is cheaper than where I first bought it—it's whether the company's long-term fundamentals are becoming stronger. I believe they are.

ServiceNow sits at an interesting intersection of enterprise software and AI. Companies are increasingly looking beyond AI experimentation and toward actually embedding AI into their workflows, IT operations, customer service and employee processes. ServiceNow already has the enterprise relationships, workflow platform and ecosystem needed to monetize that transition. If AI increases the value and usage of its platform, I see meaningful room for the company to compound over the long run.

That's also why I don't want to make my DCA strategy entirely dependent on short-term price movements. A strong company can keep getting more expensive while its intrinsic value continues to rise. Waiting indefinitely for a "perfect" pullback could mean missing more of the long-term upside. By averaging up gradually, I'm effectively increasing my exposure as my conviction grows, while still avoiding the risk of putting too much capital in at one price.

Of course, averaging up doesn't mean ignoring valuation or risks. Enterprise software remains sensitive to IT spending, competition and changing expectations around AI monetisation. If growth materially deteriorates or the original investment thesis breaks, I would reassess rather than blindly continue buying. But as long as ServiceNow continues to execute and strengthen its position in enterprise AI and workflow automation, I'm willing to pay progressively higher prices for a business I believe can compound for years.

For me, this is ultimately about building a position, not predicting the perfect entry. I'd rather own a growing number of shares in a high-quality compounder through different market conditions than constantly wait for the next correction. DCA gives me discipline, while averaging up reflects increasing conviction. My focus remains the same: consistency over noise and letting time do the heavy lifting.

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