Weixin Lin
2 min read
A number of stocks jumped in the afternoon session after markets benefited from a “risk-on” sentiment fueled by potential peace negotiations between the U.S. and Iran.
As geopolitical tensions eased, investors returned to growth-heavy favorites like Microsoft and ServiceNow, which offer high-margin subscription revenue and clearer paths for integrating generative AI into enterprise workflows.
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:
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Video Conferencing company 8×8 (NASDAQ:EGHT) jumped 8.2%. Is now the time to buy 8×8? Access our full analysis report here, it’s free.
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Tax Software company Intuit (NASDAQ:INTU) jumped 6.5%. Is now the time to buy Intuit? Access our full analysis report here, it’s free.
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Identity Management company Okta (NASDAQ:OKTA) jumped 5.3%. Is now the time to buy Okta? Access our full analysis report here, it’s free.
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Document Management company Box (NYSE:BOX) jumped 6.4%. Is now the time to buy Box? Access our full analysis report here, it’s free.
8×8’s shares are extremely volatile and have had 47 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 19 days ago when the stock dropped 5.9% on the news that the leak of Anthropic’s “Claude Mythos” model ignited fresh concerns across the software sector.
This “AI Scare Trade” hammered giants like Salesforce and Adobe, as Wall Street weighed whether these platforms would be integrated or simply rendered obsolete by low-cost, agentic intelligence. Compounding the disruption was macroeconomic volatility fueled by the escalating Middle East conflict. Brent crude prices surged as U.S.-Israeli operations against Iranian infrastructure heightened fears of a prolonged energy shock. This spike reignited inflation anxieties, pushing the Nasdaq Composite deeper into correction territory.
8×8 is down 2.9% since the beginning of the year, and at $1.84 per share, it is trading 32.8% below its 52-week high of $2.73 from February 2026. Investors who bought $1,000 worth of 8×8’s shares 5 years ago would now be looking at only $53.89.
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