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The action of International Business Machines Corp. is falling. Again.
The tech company, whose shares have fallen steadily since peaking in 2013, slipped 9.9% on Friday after reporting lower sales for every quarter of 2020.
The movement of inventory puts IBM’s performance among Dow components in a familiar place: at the bottom of the page.
IBM has been the biggest drag on the blue chip index between its rise from 20,000 in January 2017 to 30,000 last November, according to an analysis by Dow Jones Market Data. Although the stock market hit many record highs during this period, IBM shares fell, shaving 367 points from the Dow.
The trend has persisted since then, with IBM ranking among the worst performing Dow components since the 30,000 mark.
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