Kyndryl Holdings, Inc. shares fall 3.63% intraday as German firms shift to hybrid clouds for compliance.

Kyndryl Holdings, Inc. declined 3.63% in intraday trading. The drop in stock price may be attributed to the news that German firms are rapidly shifting from public cloud services to private and hybrid cloud solutions, driven by regulation, data security concerns, and the desire for greater control over IT resources. This trend could potentially impact Kyndryl's business, as it may lead to a decrease in demand for public cloud services, which could negatively affect the company's revenue and profitability.