Kyndryl's stock experienced a significant intraday surge, soaring 11.43% during Tuesday's trading session. This notable upward movement comes after a period of extreme volatility for the IT infrastructure provider.

The sharp rise follows a historic selloff on Monday, where shares plummeted 55%. That decline was triggered by the sudden departure of key executives, including the Chief Financial Officer, the disclosure of a review of accounting practices by the Securities and Exchange Commission, and the company reporting weak fiscal third-quarter results alongside a significant cut to its full-year revenue and free cash flow guidance.

Analysts from multiple firms, including Guggenheim Partners and J.P. Morgan, downgraded the stock following the announcements, citing increased uncertainty and credibility concerns. The severe selloff left the stock in an oversold condition, which likely contributed to the subsequent intraday bounce as some traders looked for a technical recovery.