What’s up freak bitches, we got a little news here about a tech giant losing a contract with a global client. Yeah, so Infosys, the big dog in the world of tech, just announced on Saturday that a global company decided to cancel a big contract they had. No official reason given for the cancellation, but apparently it was supposed to be a 15-year deal worth about $1.5 billion. Can you imagine that? You lock in a deal that big and then – POOF – it’s gone. Unreal.
The details are still a little sketchy, though. They’re not even saying who this global company is. They just kept that name to themselves. It’s like a big mystery. In an exchange filing, Infosys just said hey, this was supposed to be a 15-year deal that we signed in September 2023 and now it’s off. It’s over. No deal.
But here’s the thing – Infosys’ shares went up on Friday, and the stock market is still giving them a good rating. As of December 22, 2023, shares closed at Rs 1562.90 apiece, and they got a BUY rating with a potential 22 per cent upside. Other folks are saying HOLD, so I don’t know, maybe these cancellations are just a blip on the radar.
Standard disclaimer, don’t take this as financial advice, go talk to a pro before you do anything. It’s the wild west out there – you gotta make sure you’re doing things right!