On March 27, 2025, during market hours, Reuters published an article entitled “Kyndryl shares slump after Gotham City alleges it manipulated metrics.” This article stated that Kyndryl shares had fallen after “a research report from short-seller Gotham City alleged the IT services provider has manipulated certain financial metrics. Gotham City said Kyndryl manipulated its reported adjusted EBITDA and adjusted free cash flow to give the appearance of profits and cash flow while in reality it generated losses and burned cash.”
On this news, the price of Kyndryl Holdings stock fell 5% on March 27, 2025.
