Elon's S-1 Master Plan Could Rewrite the Rules of AI Bonus Content: DocuSign Is
Down 78% From Its Peak͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌
͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Unsubscribe
<[link removed]>

September 11, 2026
View online ↗
<[link removed]>

A note from our friends at MarketWise(ad)
Dear Reader,

Every major tech company on Earth is racing to build AI.

They're all dependent on the same chips... the same power grid... the same
infrastructure...

But when Elon is done with his just-revealed master plan – buried inside the
SpaceX S-1...
<[link removed]>

The AI economy you think you understand won't exist anymore.

You could wake up tomorrow and discover your money is suddenly in all the
wrong places.

I've spent 15 years doing this kind of forensic research and my institutional
reasearch is followed by the world's biggest money managers, including Goldman
Sachs, JPMorgan Chase, BlackRock, and Fidelity...

When I saw what was buried inside the SpaceX S-1, I flew to Starbase to see it
for myself.
<[link removed]>


<[link removed]>

In my new briefing, I'll show you exactly what I believe Elon is building –
and the single best stock to own because of it (not Tesla or SpaceX)...

Better yet, I'm giving away the name and ticker completely free, no credit
card required.

Click here to get the full story and my No. 1 recommendation, free.
<[link removed]>

Regards,

Rob Spivey
Managing Director, Altimetry

This ad is sent on behalf of Altimetry, 110 Cambridge Street, Cambridge, MA
02141. If you would like to optout from receiving offers from Altimetry please
click here
<[link removed]>.



Bonus Article
DocuSign Is Down 78% From Its Peak. Its AI Platform Says That Is Wrong.



The story the market told about DocuSign was simple: electronic signatures
were a pandemic trade, the company rode a temporary wave, and when the world
reopened, the thesis expired. At roughly 78% below its all-time high closing
price set on September 3, 2021, that verdict is baked into the share price with
room to spare. The question today is whether it is also wrong.

A more precise read of the current business suggests it is at least
incomplete. DocuSign is not the same company it was in 2021. The product has
changed, the margin profile has changed, and the growth trajectory, while
modest, is no longer decelerating.

The Business

DocuSign's core e-signature product remains deeply embedded in enterprise
workflows globally, with more than 1.9 million customers. The strategic shift
is the Intelligent Agreement Management platform, or IAM, which the company is
building on top of that installed base. Rather than just capturing a signature
at the end of a contract, IAM is designed to manage the entire agreement
lifecycle: drafting, negotiation, execution, compliance monitoring, and
renewal. AI agents now execute contract workflows end to end, with the IAM
platform processing high volumes of agreements in Q2.

Deloitte estimated that poor agreement management costs businesses roughly $2
trillion in lost global economic value annually and cited more than 55 billion
hours wasted globally per year. That is the market DocuSign is targeting, and
it already owns the endpoint where most of those agreements close.

Why Wall Street Is Paying Attention

Q2 fiscal 2027 revenue came in at $875.7 million, up about 9% year over year,
with non-GAAP EPS of $1.16 beating estimates. Non-GAAP operating margin
expanded to 13.4%, up from 8.1% in the same quarter a year earlier. Free cash
flow margin held around 34%. Management raised full-year revenue guidance to
about $3.50 billion at the midpoint and now expects ARR growth to accelerate to
8.5%-9.0% for the fiscal year.

IAM already accounts for 15.1% of annual recurring revenue, and management
guided that share toward roughly 18% to 19% exiting Q4. That transition matters
because IAM contracts carry higher average selling prices and stickier renewal
dynamics than standalone e-signature agreements.

What's Driving the Opportunity

The market has re-rated DocuSign partially. The stock is up roughly 62% from
its year-to-date low as of early September, but it remains about 78% below its
2021 peak. Multiple analysts have raised price targets following Q2 results,
including Morgan Stanley to $75 and UBS to $70, though both firms maintain
cautious ratings. The gap between where the stock trades and where fundamental
improvement is pointing is what creates the opportunity.

DocuSign is not alone in facing this disconnect. GitLab recently posted a 21%
revenue jump and 117% net retention, yet analysts still declined to upgrade the
stock — a dynamic that reveals something broader about how the Street is
treating enterprise software re-ratings right now.GitLab beat estimates by 33%
and Wall Street still won't buy — here's why
<[link removed]>
is worth reading alongside DocuSign's setup, because the hesitation follows a
similar logic in both cases.

The upcoming Q3 report in December will be the first real test of whether the
IAM revenue share continues its climb toward the roughly 18% to 19% range
management has guided. If it does, the growth acceleration thesis gets a third
consecutive quarter of confirmation.

The stakes around that December report are real, and the risk of a muted
reaction even on a beat is not hypothetical. UiPath delivered a revenue beat
and its fourth straight quarter of GAAP profit in early September — and the
stock fell 16% anyway.UiPath's Q2 beat and 16% post-earnings drop — what
happened and what comes next
<[link removed]>
illustrates how quickly a clean quarter can be overshadowed when guidance or a
catalyst event disappoints, a scenario DocuSign bulls should keep in mind
heading into Q3.

What Could Go Wrong

The CFO sold 45,000 shares in mid-August under a pre-arranged 10b5-1 plan.
That is a meaningful transaction worth noting. Single-digit revenue growth does
not make DocuSign a high-conviction compounding story in the way some bulls
have framed it.Annualized revenue growth has averaged in the high single digits
over the last two years, below its five-year CAGR, suggesting the deceleration
from pandemic-era rates has not fully reversed.

Competition from Salesforce, Adobe, and emerging AI-native contract platforms
is intensifying. If IAM adoption slows or fails to expand beyond existing
customers into new enterprise segments, the growth case stalls. Consensus price
targets are often close to where the stock currently trades, meaning the Street
is not yet willing to price in sustained acceleration.

The Bottom Line

DocuSign is not a momentum stock, and it is not priced like one. What it
offers is a free-cash-flow-generative, deeply embedded enterprise platform that
is building an AI layer on top of a loyal customer base, at a valuation that
reflects far more skepticism than the Q2 results justified. If IAM drives the
ARR acceleration management has guided, the bears are holding a position built
on a thesis that no longer matches the company's actual trajectory.



DISCLAIMER
This is a paid advertisement for informational and educational purposes only
and does not constitute financial advice. Investing involves risk and may not
be suitable for all individuals. Past performance does not guarantee future
results.
Trading Stocks Now is operated by Investing Media Solutions, LLC. We are not
licensed financial advisors. Always consult with a certified financial
professional before making investment decisions.

IMPORTANT NOTICE AND DISCLAIMER
Investing Media Solutions, LLC ("IMS"), the owner of this website (the
"Website"), cannot guarantee the accuracy or completeness of the information
contained in any article, email, newsletter, or other publication posted on or
viewed in connection with this website (the "Publications"). The author or
authors of those Publications are solely responsible for their contents. IMS
has not done any research or due diligence into the markets, industries, or
companies which may appear or be mentioned in the Publications.IMS will NOT be
liable for any loss or damage caused by a reader's reliance on information
posted on the Website or contained in the Publications.

FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY; NOT INVESTMENT ADVICE.
This Website and the Publications are for educational and informational
purposes only. This Website and the Publications do not purport to be a
complete analysis of any company's financial position. This Website, the
Publications or any statements made in the Publications are not, and should not
be construed to be, personalized investment advice directed to or appropriate
for any particular individual.This Website or the statements made in the
Publications should NOT be relied upon for purposes of transacting in any
securities posted on the Website or mentioned in the Publications, nor should
they be construed as a personalized recommendation to you to buy, sell, or hold
any position in any security posted on this Website or mentioned in any
Publications.b>

SUBSTANTIAL RISK IN INVESTMENT.
Any individual who chooses to invest in any securities including those
mentioned in the Publications should do so with caution.Investing or
transacting in securities involves substantial risk; you may lose some, all, or
possibly more than your original investment.Readers bear responsibility for
their own investment research and decisions and should review all investment
decisions with a licensed or registered investment professional.

NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER
Neither IMS nor any of its respective owners or employees are registered or
licensed as a securities broker-dealer, broker, an investment advisor, or an
investment advisor representative with the U.S. Securities and Exchange
Commission (SEC), any state securities regulatory authority, or any
self-regulatory organization.


For full policies, see our: Disclaimer
<[link removed]> | Privacy
<[link removed]> | Terms
<[link removed]>

Trading Stocks Now
203 N La Salle Street, Suite 2100 | Chicago, IL 60601

unsubscribe
<[link removed]>