IBM Jumps 9%, Adding $24 Billion as Old Trump Praise of CEO Recirculates

7 articles · Updated · Bloomberg · Jun 1

IBM shares rose nearly 9% on Monday, lifting the company’s market value by more than $24 billion after an old video of Donald Trump praising CEO Arvind Krishna spread online again.
The clip was from a White House event in December, when Trump called Krishna a “legend,” but the remarks drew little immediate market reaction at the time.
The move added to an already strong day for IBM shares after Barclays initiated coverage with an Overweight rating and a $350 price target tied to software momentum and quantum-computing strategy.

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