Salesforce, ServiceNow Added to AI Revolution ETF; Wedbush Calls Sell-Off Overdone
Salesforce and ServiceNow will be added to the Dan Ives Wedbush AI Revolution ETF, though the stocks have yet to respond positively to the announcement. Wedbush has upgraded both names, calling the recent sell-off a 'software Armageddon' overreaction and highlighting oversold conditions as a buying opportunity.
1. Inclusion in AI Revolution ETF
The Dan Ives Wedbush AI Revolution ETF will add Salesforce and ServiceNow in its next rebalance, potentially increasing demand as index-linked funds allocate to the theme. Despite this inclusion, both stocks have remained under pressure with limited immediate upside from the ETF flows.
2. Wedbush's Upside Thesis
Wedbush upgraded both enterprise software names, arguing that the recent sell-off was driven by an overblown “software Armageddon” narrative. The broker highlights oversold technical levels and resilient subscription revenue, suggesting a meaningful rebound could follow.