IBM Can Burn Pensioners to Appease Wall Street and Protect the Billionaire CEO With His Humongous Bonuses
So say some insiders in recent comments about the company losing a third of its 'value' in a matter of days.
"Arvind spoke and the IBM stock dropped 25% this week," somebody said 9 hours ago. "Can he work another miracle next week and make it drop 50%?"
IBM's media partner (WSJ) is meanwhile trying to appease shareholders. An insider said about that puff piece (face-saving spin): "Pure gibberish. IBM executives fumbled previous opportunities also. A glaring example, the cloud. Where is IBM in the cloud related industry. It was let behind. So, it is a one off occurrence."
Coming from the same publisher that helped defraud people by inflating the bubble ("pump") [1, 2] using obviously fake news, leading up to the imminent "dump".
IBM is one of those companies whose total "worth" (which is always exaggerated anyway) is nearly eclipsed by its debt, so some people speculate that IBM might "pull a Kyndryl" (again) for debt-loading, then invoke bankruptcy/ies. In the US many companies do this all the time. We gave several examples over the years.
Imagine the impact on IBM's 401(k), probably hundreds of thousands of families in the US. Suffice to say, 401(k) has long been the subject of intense controversy, being so speculative (very long time period) and highly risky, akin to lottery.
IBM won't be the last. Its stock it set to open 2.82% in the red:
Can WSJ and Cramer do another round of pumping? █
20 hours ago by Anonymous: "Dropping like a rock again this morning. Let me break it down for those that can't understand. Arvind has been telling a fairy tale about AI, Quantum, Hybrid Cloud, etc. These are high growth areas for the rest of the market. Market assumed for IBM too. But now that Z17 cycle is winding down, market is figuring out that all of IBM's revenue growth was from mainframes - NOT from AI, Quantum, or any of the other buzzwords. No happy ending for this fairy tale."
Also: "Does he really expect people to believe that a $700M revenue miss is because a handful of mainframe deals slipped the last two weeks of June?"
(Lots more in there.)