BUZZ-Old video of Trump commenting on IBM gains traction on social media; shares rise

IBM Corp

IBM Corp

IBM

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** IBM shares rise 6.2% to $316.03 in early trading on Monday

** A video clip of U.S. President Donald Trump from a December event referencing the company gained traction after it was recirculated on social media over the weekend

** Trump said in the video that the stock had moved from a "rather low price" to a "very nice price" and could rise further

** Trump also highlighted CEO Arvind Krishna's role in lifting the company's valuation in the video

** "IBM has been working at artificial intelligence for at least a decade and investors are starting to look beyond just the obvious artificial intelligence darlings and IBM is certainly falling into that category," said Art Hogan, chief market strategist at B Riley Wealth

** Co announced last month that it would invest more than $10 bln in quantum computing

** "When it comes to quantum computing, they are ahead of all of the other players," added Hogan

** IBM did not immediately respond to a Reuters request for comment on the share move

** Including session's move, IBM stock up 6.7% YTD