IBM (IBM) stock price surged almost 13% on Friday from Thursday's close to finish near $298, its sharpest single-day jump in months on a fresh Wall Street call. Now it is pushing above $300 in early Monday trading.
The fuel-turning-heads is a recycled Trump video that resurfaced over the weekend, actually footage from last December. That timing matters, because a clip going viral after the rally already ran, right as price nears heavy resistance, is the kind of spark that pulls in late buyers just as the move tires.
IBM has climbed since a May 13 low near $212, rising as much as 41% before pausing. The surge began well before the viral clip, which means the recirculated December video of President Trump praising IBM is a spark, not the engine.
The firmer catalyst landed June 1. Barclays **** yst Raimo Lenschow initiated coverage with an Overweight rating and a $350 target, noting nearly half of IBM's revenue and most of its profit come from sticky software sold to large, regulated customers. Wedbush reiterated a Buy at $320 on May 29. That's the level IBM stock hints at on early Monday.
Volume supports the move. Trading volume has risen steadily since mid-May, with Friday printing 28.48 million shares as price broke higher.
The fuel-turning-heads is a recycled Trump video that resurfaced over the weekend, actually footage from last December. That timing matters, because a clip going viral after the rally already ran, right as price nears heavy resistance, is the kind of spark that pulls in late buyers just as the move tires.
IBM has climbed since a May 13 low near $212, rising as much as 41% before pausing. The surge began well before the viral clip, which means the recirculated December video of President Trump praising IBM is a spark, not the engine.
The firmer catalyst landed June 1. Barclays **** yst Raimo Lenschow initiated coverage with an Overweight rating and a $350 target, noting nearly half of IBM's revenue and most of its profit come from sticky software sold to large, regulated customers. Wedbush reiterated a Buy at $320 on May 29. That's the level IBM stock hints at on early Monday.
Volume supports the move. Trading volume has risen steadily since mid-May, with Friday printing 28.48 million shares as price broke higher.
2 days ago
