Business & Economy · 46 views
‘We did not adapt and move quickly enough’: IBM CEO’s admission of weakness fails to prevent historic 25% stock crash
IBM shares tumbled Tuesday as CEO Arvind Krishna acknowledged in an unusual letter to investors that the company had failed to adapt quickly enough, a blunt admission that followed a surprise earnings miss and sent the stock toward its…
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IBM shares fell sharply on Tuesday after CEO Arvind Krishna sent a letter to investors admitting the company had not adapted quickly enough. The admission followed a surprise earnings miss that had already rattled the market. The stock dropped 25% in a single day, the steepest decline in IBM’s 115‑year history. The move marked the company’s worst single‑day drop in decades.
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