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Kyndryl Stock Plummets 53% Amid Accounting Crisis and Executive Shakeup

Kyndryl Stock Plummets 53% Amid Accounting Crisis and Executive Shakeup

Author:

Global Cryptocurrency

Published:

2026-02-10 11:09:02

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BTCCSquare news:

Kyndryl Holdings Inc. (KD) shares collapsed 53% to $11.05 after disclosing material weaknesses in financial controls and the abrupt departure of key executives. The IT services provider delayed its quarterly filing, revealing accounting issues spanning fiscal 2025 and the first half of 2026.

CFO David Wyshner and Global Controller Vineet Khurana exited immediately, with interim replacements named. Despite assurances that financial statements remain unaffected, investors fled as revenue guidance was cut to -2% to -3% for fiscal 2026.

The stock hit a 52-week low of $10.82, marking one of the tech sector's worst single-day performances in recent memory. Extended sales cycles and governance failures have eroded confidence in the IBM spin-off.

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