Since the majority of mainframe computers running COBOL are produced by IBM, the development triggered heavy selling in the company’s stock. The stock dropped as much as 13% during intraday trading, marking its steepest single-day fall since March 2020. Since the majority of mainframe computers running COBOL are produced by IBM, the development triggered heavy selling in the company’s stock. The stock dropped as much as 13% during intraday trading, marking its steepest single-day fall since March 2020.
