Investors seeking potential opportunities in the derivatives market should focus their attention on software enterprise ServiceNow (NOW). A cloud computing platform, ServiceNow focuses on the management of automated business workflows. With the rise of digitalization, its ability to automate the information technology process carries extraordinary relevance. Still, NOW stock appears relatively discounted.
Since the start of the year, NOW is down almost 3%. To be sure, the benchmark Nasdaq Composite index isn’t exactly having a bright moment either. However, it’s at least up over 1% during the same frame, suggesting that ServiceNow is a laggard. That said, momentum may be shifting. In the past five sessions, NOW stock gained over 2%, while in the trailing month, it’s up nearly 5%.
