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ServiceNow (NOW) Stock Declines as AI Agents Transition to Consumption-Based Model

Investment advisory firm Ithaka Group released the “Ithaka US Growth Strategy” first-quarter 2025 investor letter. A copy of the letter can be downloaded here. Following two years of gains exceeding 25%, the markets welcomed the new year with considerable volatility and a sharp decline. In the first quarter, Ithaka's portfolio underperformed the R1000G by 30 basis points, recording -10.3% to -10.0% (gross of fees) amid a negative market environment. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its first-quarter 2025 investor letter,...