New all-time high thanks to old video? IBM stock jumps after viral post | heise online
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After an old video featuring praise from US President Donald Trump for IBM went viral on X over the weekend, the US company's stock price jumped again on Monday, reaching a new all-time high after a significant rally. After trading closed, an IBM share cost $320, almost 8 percent more than before the weekend. At times, however, the gain was as high as 10 percent. While this latest surge is attributed at least in part to the old video by Bloomberg, for example, the stock price had already been rising: since May, IBM shares have climbed by nearly 40 percent.
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The video, widely shared over the weekend, shows Donald Trump at a table in the White House next to IBM CEO Arvind Krishna. He praises him as a "legend" who had brought a "low" stock price to a "very nice" level, but not yet high enough. These words were spoken in December, and at the time they didn't attract much attention, Bloomberg recalls now. This time, however, it was different. The video was shared, among others, by an account of the online betting portal Polymarket, which did not point out that the recording was already six months old.
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The latest surge in IBM's stock price followed a multi-day rally, which began with an announcement from IBM and the US Department of Commerce. Both intend to invest one billion US dollars each in Anderon, the first US foundry for quantum chips. The US government is to receive a minority stake in return. The development shows that shareholders are currently very eager to jump on already successful stocks and drive a rally further, Bloomberg quotes an expert. At IBM, they were just looking for another reason to justify further purchases. The old video came in handy.
(mho)
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This article was originally published in
German.
It was translated with technical assistance and editorially reviewed before publication.
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