International Business Machines Corp., or IBM stock price jumped more than 5% during the intraday trading session on Tuesday, 24 February 2026, as the tech giant’s shares recovered from the biggest single-day fall since October 2000.
As of 10:48 a.m. (EDT), IBM stocks were trading 5.25% higher at $235.07 during Tuesday’s market session, compared to the previous market close levels, according to the MarketWatch data.
IBM’s biggest fall since October 2000
On Monday, 23 February 2026, IBM shares recorded one of the worst trading sessions on the US stock market after rival artificial intelligence (AI) startup Anthropic announced that its Claude Code tool can help modernise the old COBOL programming language, which runs on IBM machines.
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IBM shares closed 13.15% lower at $223.35 after the massive investor selloff during Monday’s stock market session. With the shares falling 27% in February alone, the company is on track to mark its biggest one-month fall since at least 1968, reported the news agency Bloomberg.
“Modernising a Cobol system once required armies of consultants spending years mapping workflows,” according to Anthropic’s blog post. “Tools like Claude Code can automate the exploration and analysis phases that consume most of the effort in Cobol modernisation.”
This move has the potential to affect IBM’s core revenues, which are tied to the company’s main business which are massive customer-owned servers run some applications on COBOL, according to the agency report.
IBM stock trend
IBM stock price jumped 5.5% to $235.73 in the early trading session at the US stock market on Tuesday, compared to $223.35 at the previous market close, MarketWatch data showed.
During the premarket trading session on the New York Stock Exchange (NYSE), the IBM stock price jumped nearly 3% to $230 per share, recovering some of its previous day’s losses.
IBM shares have given stock market investors more than 106% returns on their investment in the last five years, but the stock has lost 10% in the last one-year period.
On a year-to-date (YTD) basis, the tech company’s stock has lost 19.42% so far in 2026, and is trading 9.19% lower in the last five sessions on the Indian stock market.
Shares of IBM hit its 52-week high level at $324.90, while the 52-week low level stood at $214.50, according to the exchange data. The company’s market capitalisation (M-Cap) was at $208.77 billion after the recovery, MarketWatch data showed.
Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
