To The Moon

This has been a painful week for my ServiceNow position. After steadily averaging up over the past few months, I watched a massive 34% pullback in a single week wipe out my paper gains and turn a profitable position into a loss. It is certainly disappointing, but I do not believe every sharp price decline automatically means the original investment thesis is broken. My decision to continue with DCA is based on my longer-term view of ServiceNow rather than the short-term movement of its share price.

ServiceNow is more than just a traditional software company. Its enterprise workflow platform helps businesses automate processes across IT, customer service, employee operations and other departments. As companies increasingly adopt AI, I believe ServiceNow is well positioned to benefit by integrating AI capabilities into existing enterprise workflows. Its Now Assist platform and AI-powered automation could create additional value for customers while strengthening its position within enterprise software. I am investing in the longer-term potential of enterprise AI adoption, not simply chasing a popular technology stock.

My DCA strategy also helps me avoid making emotional decisions during volatile periods. Instead of trying to predict the exact bottom, I prefer to accumulate gradually when the valuation becomes more attractive, provided the company's fundamentals remain healthy. However, I will not average down blindly. I still need to monitor revenue growth, subscription demand, operating margins, free cash flow, customer retention and management guidance. If the fundamental investment thesis deteriorates, I am prepared to reassess my position rather than keep adding simply to lower my average cost.

Ultimately, I am investing with a multi-year horizon, so one extremely volatile week does not automatically change my conviction. Of course, I recognise that ServiceNow is not immune to competition, valuation compression or broader weakness in growth stocks. My position size and risk exposure must remain manageable. I would rather stay disciplined, accumulate selectively and give a fundamentally strong business time to execute than make a rushed decision based on short-term market fear. For me, DCA is not about defending a losing position; it is about maintaining a consistent investment process while remaining open to new evidence. Patience matters, but discipline matters even more.

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