BUZZ-Old video of Trump commenting on IBM gains traction on social media; shares rise
IBM Corp IBM | 0.00 |
** 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
