<div id="readability-page-1"><div><figure></figure>What Happened? A number of stocks jumped in the afternoon session after Snowflake's impressive earnings results provided clearer evidence that the &#34;SaaSpocalypse&#34; — a rolling selloff that had erased approximately $2 trillion from software market values since late 2025 on fears that AI would make subscription software obsolete — had been overstated for platforms sitting at the centre of AI workflows.Snowflake surged 35%, its best single day ever, after reporting that AI accounts on its platform jumped from 9,100 to 13,600 in a single quarter, product revenue grew 34%, and full-year guidance was raised by $180 million. The read-through was immediate. ServiceNow gained 5%, Palantir rose nearly 6%, Oracle and Microsoft each added roughly 3%, and a broad wave lifted the iShares Expanded Tech-Software Sector ETF (IGV).The SaaSpocalypse thesis rested on a simple fear: that autonomous AI agents would replace per-seat software licences, hollowing out established SaaS business models. Snowflake's results inverted that logic directly. Instead of AI displacing its platform, AI drove more consumption of it. CFO Brian Robins described Cortex Code as creating a &#34;step function change&#34; in AI revenue potential, and said it was the single largest driver of the full-year guidance raise. Enterprises are not replacing data platforms with AI; they are using AI to generate more workloads that run on those same platforms.The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.Among others, the following stocks were impacted:<ul><li>Data Analytics company Domo jumped 6.9%. Is now the time to buy Domo? Access our full analysis report here, it’s free.</li><li>Developer Operations company GitLab jumped 7.2%. Is now the time to buy GitLab? Access our full analysis report here, it’s free.</li><li>Vulnerability Management company Tenable jumped 6.5%. Is now the time to buy Tenable? Access our full analysis report here, it’s free.</li></ul>Zooming In On GitLab (GTLB)GitLab’s shares are extremely volatile and have had 37 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 6 days ago when the stock gained 3.8% on the news that Treasury yields cooled and risk-on rotation lifted AI-linked growth names, helping the sector recover from the previous day's Intuit-driven sell-off.SaaS companies (Salesforce, ServiceNow, Workday, Snowflake, MongoDB, Datadog) are the textbook example of long-duration cash flows: they earn revenue over multi-year contracts with high renewal rates, which makes them extremely sensitive to the discount rate.A ten-basis-point drop in the 10-year yield can lift SaaS valuations 5-10% by itself, because these stocks trade on EV/forward-revenue multiples that move directly with rates.The combination of cooling yields and Iran peace progress also calmed fears that AI commoditization (yesterday's Intuit thesis) is universal across SaaS. Investors appeared to be sifting the market for SaaS companies whose moats AI extends, a healthier setup than the previous day's blanket sell-off.GitLab is down 21% since the beginning of the year, and at $28.57 per share, it is trading 44% below its 52-week high of $51.04 from November 2025. Investors who bought $1,000 worth of GitLab’s shares at the IPO in October 2021 would now be looking at an investment worth $274.95.ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.</div></div>

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Domo, GitLab, and Tenable stocks rose significantly following Snowflake's strong earnings, which alleviated fears of a 'SaaSpocalypse' in the software market. Snowflake's AI-driven growth led to a 35% surge in its stock, prompting gains in other tech stocks. Domo increased by 6.9%, GitLab by 7.2%, and Tenable by 6.5%. Despite volatility, GitLab remains 21% down this year, trading 44% below its 52-week high. Investors are encouraged to consider these stocks as potential buying opportunities.

Domo, GitLab, and Tenable Stocks Trade Up, What You Need To Know