IBM Stock Takes a Nosedive After Hours, Erasing Solid Daily Gains

IBM Common Stock (NYSE: IBM) experienced a shocking reversal late Tuesday, April 23rd, as a substantial plunge in after-hours trading completely wiped out the positive gains achieved during the regular market session.

The technology bellwether closed the official New York Stock Exchange trading day at

4.58, or +1.90%, from the previous day’s close of $240.90. IBM had traded steadily throughout the day, opening at $246.00 and maintaining a range between $243.66 and $249.34.

However, the situation changed drastically after 4:00 PM GMT-4. Post-market activity saw IBM shares fall dramatically, hitting

17.08, equivalent to a significant -6.96% drop from the closing price. The intraday chart vividly illustrates this sharp downward move commencing immediately after the regular session ended.

Financial data at the close showed IBM with a Price-to-Earnings (P/E) ratio of 35.56 and a dividend yield of 2.72%. The company’s market capitalization stood at 22.76KCr.

Before the after-hours plunge, the stock was trading comfortably above its 52-week low (

266.45). The abrupt and severe decline in extended trading suggests a significant market reaction unfolding for IBM.