– A nearly six-month old video of Donald Trump praising International Business Machines Corp.’s CEO sent the shares surging as much as 10% on Monday to a record high, adding more than $28 billion to the company’s stock-market value.
Most Read from Bloomberg When the US president initially praised IBM’s Arvind Krishna as a “legend” at the December White House event, there was little immediate market reaction
But over the weekend, dozens of accounts on X recirculated the video, with one Saturday post from Polymarket Money alone racking up more than 700,000 views. By Sunday night, trading on Robinhood Markets Inc.’s 24 Hour Market showed that IBM stock was climbing — even before Nvidia Corp. CEO Jensen Huang’s comments boosted software shares — setting the stage for the sharp rise this morning.
The movement underscores the scale of the speculative mania that’s sweeping through corners of the market as the artificial-intelligence boom fuels a stampede into tech stocks. In this case, it also reflects Trump’s willingness to champion particular companies and industries, which has sometimes caused his comments to set off sharp stock moves. “It’s not hard. Invest in what Trump talks about, make money, rinse and repeat,” said Matthew Tuttle, chief executive officer of Tuttle Capital Management.