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IBM stock price experiences worst single-day drop in 25 years! Anthropic claims to be able to transform Cobol systems
IBM stock price on Monday experienced its worst single-day performance in over 25 years, following artificial intelligence startup Anthropic’s announcement that its Claude Code tool can assist in modernizing Cobol. Cobol is an outdated programming language that runs on IBM computers.
IBM’s stock plummeted 13% that day, marking its largest single-day decline since October 2000. With this drop, IBM’s stock has fallen a total of 27% since February, potentially marking the largest monthly decline since at least 1968.
Anthropic stated in a blog post:
More updates to follow.
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The market carries risks, and investments should be made cautiously. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investment is at your own risk.