On February 13, 2020, a federal judge ruled that the Department of Defense must halt all work with its JEDI Cloud contract that was previously awarded to Microsoft. The government had planned to issue its first large task order to Microsoft the following day.
Prior to the announcement, Microsoft’s daily high was $186.23. After news of the federal judge ruling spread, the stock tanked as low as $182.87. By the end of the day, Microsoft closed down 0.54 percent at $183.71. The good news for anyone holding Microsoft stock is that all the company’s competing desktop environments are still terrible.
For those interested in what to do now, the Harold Herald’s finance team (with absolutely no qualifications) recommends buying as many shares of Microsoft as possible during this dip. Amazon will eventually lose their bid to win back the contract and Microsoft’s stock will explode upward once again.
Disclaimer: No one at the Harold Herald is qualified to give financial advance. Invest in stock at your own risk; we take no responsibility for your actions.