International Business Machines Corp.’s stock is falling. Again.
The tech company, whose shares have declined steadily since peaking in 2013, slid 9.9% Friday after reporting a drop in sales for every quarter of 2020.
The stock move puts IBM’s performance among Dow components in a familiar spot: at the bottom.
IBM was the single biggest drag on the blue-chip index between its climb from 20000 in January 2017 to 30000 last November, according to a Dow Jones Market Data analysis. Although the stock market rose to numerous records over that time, IBM shares fell, shaving 367 points off the Dow.
The trend has persisted since then, with IBM ranking among the worst-performing Dow components since the 30000 milestone.