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January 29, 1997updated 05 Sep 2016 12:37pm

IBM SHARES JUMP AS IT ANNOUNCES TWO-FOR-ONE SPLIT

By CBR Staff Writer

The old IBM Corp used to wait until the company’s share price was a whole lot higher than its current trading range before it even thought about declaring a share split, but under Lou Gerstner, there is an air of impatience about all the company’s actions, and yesterday it was rewarded with a $7.125 surge in the price to $152.5 after it announced it would split them two for one. Shares eventually closed up $4.50 at $150.25.

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