International Business Machines Corp. shares are falling. Again.
The technology company, whose shares have plummeted since the peak in 2013, fell 9.9% on Friday after reporting a drop in sales for all quarters of 2020.
The stock movement puts IBM’s performance among Dow’s components in a familiar position: at the bottom.
IBM was the biggest drag on the blue-chip index between its climb from 20,000 in January 2017 to 30,000 last November, according to an analysis by Dow Jones Market Data. Although the stock market rose to several records over that time, IBM’s shares fell, down 367 points from the Dow.
The trend has persisted ever since, with IBM ranking among the worst performing Dow components since the 30000 mark.