March 3, 2026
Shares of business intelligence platform Domo (NASDAQ:DOMO) jumped 8.8% in the afternoon session after software stocks rebounded as the market shook off growing uncertainty about the impact of artificial intelligence.
This move was part of a broader recovery in the software-as-a-service (SaaS) sector, which had previously sold off due to investor fears that new AI agents could threaten the business models of enterprise software companies. The rally suggested investors shifted to a more thoughtful view. This continued a trend from four days prior, when the stock also gained after news that prominent tech leaders dismissed fears of AI making enterprise software obsolete. The broader tech market also saw support, with selective buying in companies tied to AI and innovation themes.
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Domo’s shares are extremely volatile and have had 56 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 1 day ago when the stock gained 8.9% on the news that software stocks rebounded as the market shook off growing uncertainty amid escalating tension in the Middle East. This previous sell-off, nicknamed the “SaaSpocalypse,” was driven by investor fears that new artificial intelligence agents could disrupt and threaten the business models of enterprise software companies. The rally suggests investors are shifting from blind fear to a more nuanced view as they monitor the market for “AI Winners.”.
Domo is down 49.2% since the beginning of the year, and at $4.21 per share, it is trading 76.8% below its 52-week high of $18.20 from September 2025. Investors who bought $1,000 worth of Domo’s shares 5 years ago would now be looking at an investment worth $71.30.
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