The stock of International Business Machines Corp. drops. Again.
The tech company, whose shares have fallen steadily since its peak in 2013, fell 9.9% on Friday after reporting a revenue decline for each quarter of 2020.
The stock movement puts IBM’s performance among the Dow components in a familiar spot: the bottom.
According to an analysis by Dow Jones Market Data, IBM was the biggest drag on the blue chip index between the climb from 20,000 in January 2017 to 30,000 last November. Although the stock market soared to numerous records at the time, IBM stock fell, taking 367 points off the Dow.
The trend has continued ever since, with IBM being among the worst performing Dow components since its 30,000 milestone.