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The Economic Times
The Economic Times
Business
Akash Podishetti

'We faltered, did not move quickly:' How IBM CEO Arvind Krishna's statement led to $70 billion wipeout

IBM Arvind Krishna United States

IBM shares rose nearly 2% in premarket trade on Wednesday, a day after the US technology major suffered its worst one-day stock fall in 58 years and lost nearly $70 billion in market value. The stock had plunged about 25% on Tuesday after the company’s preliminary second-quarter numbers came in below Wall Street expectations. The fall was the sharpest for IBM since 1968, according to Bloomberg.

What caused IBM share price crash

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