Thread regarding Kyndryl layoffs

WoW now this post REALLY needs updating!

As of the market close on Friday, June 10, Kyndryl's share price is: $9.83 / share (NOT a typo)

And, as of the market close on Friday, June 10, Kyndryl's Market Cap is: $2.207 Billion (again, NOT a typo)

Holy smokes!

In late October, the stock traded above $40 on a “when issued” basis. Kyndryl opened for trading on Nov. 4 at $28.41

Currently at $12.14 and falling fast.

Your numbers need updating. So as of today, 3/2/2022, a day after Kyndryl's abysmal Quarterly Earnings announcement, the stock closed at just $12.82 a share!!!

Correspondingly, Kyndryl's market cap has dropped to $2.873 Billion! Thus Way WAYYY below that $3.6B market cap listing minimum for inclusion in the S&P 400 Midcap Index.

For perspective, even Xerox has a higher market cap today than Kyndryl at $3.072B. XEROX!! (for those of you under 40yo who likely never even heard of Xerox, they make photocopiers).

another dead cat bounce today.

And yet market cap is still 35 TIMES Pre-Tax Income!!! DXC is perhaps 12 times Pre-Tax Income. More room to go down.

Kyndryl execs starting to feel the burn of stock drop and effect on equity (conversion established by IBM prior to spin). Equity nearly cut in half since middle of year.

Signings are way down - business will shrink, large headcount reductions will be needed soon or PTI goes negative fast.

Management showing EBITDA as a key measure in all investor charts. But do they run the business that way? No, they do not. So why would they show metrics different than how they really run the business? only one answer - attempt to distract or even mislead.

And remember this gem of a quote from our fearless leader, Martin Schroeter:

"On launch day, we are the world’s largest IT infrastructure services provider"

Um, the World's LARGEST IT infrastructure services provider is now a SMALL CAP Stock???

How do you square that circle, Mr. Schroeter? Heck of a job Marty. Now go give yourself a gigantic Christmas Bonus.