Trump Comments Spark 7% Surge in IBM Stock Overnight

IBM stock has surged nearly 7% in overnight trading ahead of Monday's session. The sudden increase comes after Donald Trump's December remarks praising IBM CEO Arvind Krishna and predicting that the company's shares would 'go up a lot more' resurfaced online.

The comments, made at a White House business roundtable event on December 10, were highlighted by several notable finance news handles on X. Despite being old, they drove fresh interest in IBM shares during Sunday's overnight trading.

Retail traders on Stocktwits reposted Trump's comments, with some clarifying that they were from last year. The retail sentiment for IBM moved higher into the 'extremely bullish' zone, and message volume rose 25% in the last 24 hours.

IBM has been gaining momentum in recent weeks due to its push into quantum computing. Last week, the company announced a $10 billion investment over five years to develop commercial, large-scale systems. The government also announced a $1 billion grant towards the development of quantum computing technology, which IBM will match with $1 billion of its own money.