DXC Technology – Shares of DXC climbed 3% after the IT services company said it will sell its Medicaid services unit to private equity firm Veritas Capital for $5 billion in cash. DXC was one of the four companies in the S&P 500 that were in the green amid the massive sell-off Wednesday.
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what does this mean? is it just a sale of the IT platform or of the platform + the people who work on it? So all BPO people will move to Veritas
The price may have risen briefly after this sell off, but I suspect your optimism will be short lived. Covid-19 jitters aside, MarketWatch are showing a drop of 50% over the last month, only 20% of which was within the last 5 days.
As always, the market will decide; it will be interesting to see what investors make of DXC stock over the next week or two.