ServiceNow (NOW) Stock Plunges on $7B Armis Deal Talk and KeyBanc Downgrade — News, Forecasts, and What Investors Are Watching on Dec. 15, 2025
ServiceNow shares fell about 12% to $762 on December 15, 2025, marking the steepest drop in months after reports of advanced talks to acquire cybersecurity firm Armis for up to $7 billion. The selloff intensified after a KeyBanc downgrade and concerns over the impact of AI on SaaS business models. ServiceNow was the biggest decliner in the S&P 500 Monday.