Kyndryl (KD) shares crashed more than 50% this morning, after the IT infrastructure firm said the U.S. Securities and Exchange Commission (SEC) was looking into its financial reporting practices. On Monday, the company lowered its full-year guidance and announced a string of top-level ousters as well, which pushed KD’s relative strength index (RSI) into deeply oversold territory.
At the time of writing, Kyndryl stock is down nearly 60% versus its year-to-date high.
