Stock Track | Workday Plunges 5.11% in Pre-market Amid Broader Software Selloff Over AI Threats

Stock Track

Feb 27

Workday's stock fell 5.11% in pre-market trading on Friday, extending recent losses for the human-resources software provider.

The decline comes amid a broader selloff in software stocks as investors grow increasingly concerned about the threat artificial intelligence poses to traditional software companies. The sector has lost $1.6 trillion in market capitalization this year, with Workday already posting a 38% decline year-to-date.

Investors are questioning whether software companies that sell to businesses can withstand competition from AI-powered rivals, with the selloff intensifying with each new announcement from AI developers.

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