IBM Stock Tumbles: Shares Drop Over 6% on Heavy Volume

IBM Common Stock (NYSE: IBM) experienced a significant sell-off in the United States market on Wednesday, closing the regular trading session sharply lower. As of the market close on April 24th at 7:57 PM GMT-4, shares ended the day at 229.33 USD.

This closing price represented a substantial decline of –

0.020 (0.0087%) to 229.35 USD.

The trading day for IBM was characterized by consistent selling pressure. The stock opened at $231.18, well below the previous close of $245.48. While it reached an intra-day high of $232.78, it spent most of the session trending downwards, hitting a low of $224.44, as depicted on the 1-day chart.

International Business Machines remains a major technology company with a significant market capitalization listed as 21.26KCr (approximately $256 Billion USD). The stock currently trades with a Price-to-Earnings (P/E) ratio of 39.45 and offers a dividend yield of 2.91%, often appealing to income investors.

Wednesday’s sharp decline brings IBM’s stock price considerably lower than its 52-week high of $266.45, moving it closer to the 52-week low of $162.62. Investors are now reassessing the stock following this notable negative performance.