Markets
$285B SaaSpocalypse Sell-Off: Structural Repricing, Not Panic
The February 2026 SaaS stock crash erased $285B from software stocks in 48 hours. The iShares Expanded Tech-Software Sector ETF (IGV) plummeted 23% YTD. Individual casualties: Thomson Reuters -16-18%, LegalZoom -20%, Salesforce significant decline. January 2026 was the worst month for software stocks since 2008. The core thesis: when one AI agent does the work of five humans, per-seat pricing structurally collapses. Gartner predicts 35% of point-product SaaS tools replaced by AI agents by 2030 —
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