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IBM Stock Plummets 6.58% Despite Record $35.23 Billion Trading Volume Ranking 14th in Market
Generated by AI AgentAinvest Market Brief
Thursday, Apr 24, 2025 7:50 pm ET1min read
On April 24, 2025, IBM's trading volume reached $35.23 billion, marking an 81.54% increase from the previous day, placing it 14th in the day's stock market rankings. IBM's stock price fell by 6.58%.
IBM, a leading software and consulting firm, announced that 15 of its government contracts had been suspended due to cost-cutting measures implemented by the Trump administration. This development has significantly impacted the company's consulting business, contributing to the decline in its stock price.
Despite reporting a strong first-quarter earnings beat and a robust forecast, IBM's stock price continued to fall. The company acknowledged that the suspension of federal contracts has had a notable impact on its financial performance, further exacerbating the uncertainty in the market.
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