1 00:00:02,520 --> 00:00:08,800 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,160 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,920 --> 00:00:19,680 Speaker 3: Let's take a look at some stocks on the move 5 00:00:19,760 --> 00:00:22,960 Speaker 3: this week, with us as Isabelle Lee, Bloomberg News cross 6 00:00:23,000 --> 00:00:27,240 Speaker 3: Asset reporter, joining us here in the Bloomberg Business Week Studio. 7 00:00:27,800 --> 00:00:31,160 Speaker 3: Let's start with one that's been all over the place today, Tesla. 8 00:00:31,880 --> 00:00:34,320 Speaker 1: This is interesting. I feel like it's been a roller coaster. 9 00:00:34,360 --> 00:00:36,800 Speaker 1: We started off the day with Tesla Inda red, and 10 00:00:36,840 --> 00:00:40,000 Speaker 1: people were gloomy because they had their vehicle sales slumped 11 00:00:40,040 --> 00:00:43,080 Speaker 1: of Lobos in twenty twenty two, it was down thirteen percent, 12 00:00:43,400 --> 00:00:45,720 Speaker 1: and a lot of people were saying, oh my gosh, 13 00:00:45,760 --> 00:00:48,240 Speaker 1: this is going to be the beginning of the unraveling 14 00:00:48,400 --> 00:00:52,160 Speaker 1: of everything. And then at eleven seventeen, political publisher News 15 00:00:52,200 --> 00:00:55,080 Speaker 1: saying that Elon Musk will be stepping back from working 16 00:00:55,080 --> 00:00:58,080 Speaker 1: the Trump administration. And at eleven nineteen you see shares 17 00:00:58,200 --> 00:01:00,720 Speaker 1: edging higher, and now it's up by six percent, and 18 00:01:00,760 --> 00:01:03,240 Speaker 1: you can see the Tesla investors are really just shrugging 19 00:01:03,240 --> 00:01:06,199 Speaker 1: off any of those fears and just hoping that Elon 20 00:01:06,319 --> 00:01:08,480 Speaker 1: Musk will have more time for the company. 21 00:01:08,560 --> 00:01:11,560 Speaker 3: We should note that Caroline Levitt, the Press Secretary, pushed 22 00:01:11,600 --> 00:01:13,760 Speaker 3: back on this in a tweet. She said, this scoop 23 00:01:13,959 --> 00:01:16,360 Speaker 3: in quotes is garbage. Elon Musk and President Trump have 24 00:01:16,400 --> 00:01:19,360 Speaker 3: both publicly stated that Elon will depart from public service 25 00:01:19,400 --> 00:01:22,280 Speaker 3: as a special government employee when is incredible work at 26 00:01:22,360 --> 00:01:25,360 Speaker 3: DOGE is complete. The market, though, seems to think that 27 00:01:25,440 --> 00:01:28,360 Speaker 3: his days at DOGE could be numbered because shares did 28 00:01:28,400 --> 00:01:30,160 Speaker 3: not move down after she sent that. 29 00:01:30,160 --> 00:01:32,640 Speaker 1: Note exactly, And there is that. But the note is 30 00:01:32,680 --> 00:01:35,880 Speaker 1: also interesting because it didn't really say anything definitive. I mean, 31 00:01:36,400 --> 00:01:37,280 Speaker 1: then it just said. 32 00:01:37,160 --> 00:01:38,240 Speaker 3: She said it's garbage. 33 00:01:38,560 --> 00:01:39,039 Speaker 1: There is that. 34 00:01:39,480 --> 00:01:41,080 Speaker 3: But this is when you start to parse words like 35 00:01:41,160 --> 00:01:44,319 Speaker 3: I mean, I would think that if you say something's garbage, 36 00:01:44,360 --> 00:01:45,240 Speaker 3: it would be incorrect. 37 00:01:45,280 --> 00:01:46,920 Speaker 4: There's a lot of garbage out there, that's true. All 38 00:01:47,000 --> 00:01:50,040 Speaker 4: right now, I'm just gonna say, but we don't. 39 00:01:49,840 --> 00:01:51,080 Speaker 3: Know tweets here. 40 00:01:51,080 --> 00:01:53,400 Speaker 4: I think we're going to get in trouble. Let's talk 41 00:01:53,400 --> 00:01:55,240 Speaker 4: about news, Max Man, this is a story we've talked 42 00:01:55,240 --> 00:01:57,280 Speaker 4: about a lot over the last what is it now, 43 00:01:57,320 --> 00:01:59,800 Speaker 4: it's third day of trading. It has soared more than 44 00:02:00,040 --> 00:02:04,320 Speaker 4: two thousand percent yesterday and the day of its IPO, 45 00:02:04,600 --> 00:02:06,560 Speaker 4: different trade today different. 46 00:02:06,600 --> 00:02:09,240 Speaker 1: It's down by seventy percent, which is eye popping if 47 00:02:09,280 --> 00:02:11,320 Speaker 1: you think about it, if you look at it in isolation, 48 00:02:11,440 --> 00:02:13,880 Speaker 1: but not really if you see the two thousand percent 49 00:02:13,880 --> 00:02:16,880 Speaker 1: stage during the first two days of its trading as 50 00:02:16,919 --> 00:02:19,639 Speaker 1: a public company. And honestly, it's still up by around 51 00:02:19,680 --> 00:02:21,960 Speaker 1: one thousand percent from its ten dollars offer price, but 52 00:02:22,080 --> 00:02:24,720 Speaker 1: still shares were cut in half today after a really 53 00:02:24,919 --> 00:02:28,280 Speaker 1: spectacular two day rally, and it's really just meant that 54 00:02:28,320 --> 00:02:30,640 Speaker 1: itself as a meme stock now because a lot of 55 00:02:30,639 --> 00:02:34,040 Speaker 1: retail investors were the ones piling into the stock. Did 56 00:02:34,040 --> 00:02:34,919 Speaker 1: you look at the market cap? 57 00:02:34,960 --> 00:02:37,320 Speaker 3: Yeah, it was above it. It was close to thirty 58 00:02:37,320 --> 00:02:40,079 Speaker 3: billion dollars as of yesterday. Now it's down to eight 59 00:02:40,120 --> 00:02:44,520 Speaker 3: point two billion dollars, which is still that's like a 60 00:02:44,560 --> 00:02:49,320 Speaker 3: paramount size market cap roughly New York Times Company market a. 61 00:02:49,240 --> 00:02:52,560 Speaker 1: While it was bigger than Fox. So can you believe no? 62 00:02:52,639 --> 00:02:54,639 Speaker 3: I mean, I think people would argue it's not one 63 00:02:54,680 --> 00:02:57,280 Speaker 3: that's necessarily has been trading on fundamentals, which is why 64 00:02:57,720 --> 00:02:58,760 Speaker 3: you called it a meme stock. 65 00:03:00,040 --> 00:03:02,200 Speaker 1: I mean, if you if you scrolls are a lot 66 00:03:02,200 --> 00:03:04,359 Speaker 1: of the social media platforms, they would say, it's the 67 00:03:04,400 --> 00:03:06,920 Speaker 1: new game. Stop touting just the really easy returns. Can 68 00:03:06,960 --> 00:03:08,799 Speaker 1: you imagine if you invested on Monday, how much you 69 00:03:08,840 --> 00:03:11,400 Speaker 1: will have even today, even you're right, you're still up 70 00:03:11,480 --> 00:03:13,480 Speaker 1: down seventy percent, you're still up a lot. But it's 71 00:03:13,600 --> 00:03:14,079 Speaker 1: just the. 72 00:03:14,080 --> 00:03:17,080 Speaker 4: Volatility and the swings, and it's really kind of interesting 73 00:03:17,080 --> 00:03:21,720 Speaker 4: because volume. I feel like it's kind of an interesting 74 00:03:21,800 --> 00:03:24,520 Speaker 4: to want when to watch in terms of the trades 75 00:03:24,520 --> 00:03:25,639 Speaker 4: because it's kind of slow. 76 00:03:26,120 --> 00:03:28,040 Speaker 1: Volume is also what we watch on the ETF world 77 00:03:28,120 --> 00:03:30,280 Speaker 1: because that's where you see the movement of money. But 78 00:03:30,320 --> 00:03:32,440 Speaker 1: it just reminds you of really the memestop craze in 79 00:03:32,480 --> 00:03:35,119 Speaker 1: twenty twenty and twenty twenty one, and that was exciting. 80 00:03:35,280 --> 00:03:38,240 Speaker 1: So this again because I was all, was it really? 81 00:03:38,640 --> 00:03:43,320 Speaker 1: It was exciting to come report institutional reporters. You were like, 82 00:03:43,320 --> 00:03:46,960 Speaker 1: what is this thing that is fair? But then yeah, 83 00:03:47,080 --> 00:03:50,200 Speaker 1: now you see the IPOs are really a dud, so 84 00:03:50,280 --> 00:03:51,520 Speaker 1: it's an anomaly out there. 85 00:03:51,720 --> 00:03:56,240 Speaker 4: Yeah yeah, well yeah, I don't know TVD on this one. 86 00:03:56,360 --> 00:03:58,240 Speaker 4: I keep saying, mid May, we're going to get their 87 00:03:58,280 --> 00:04:00,920 Speaker 4: earnings and we're going to pick apart that balance sheet 88 00:04:00,960 --> 00:04:03,840 Speaker 4: and listen. It may be incredible, right, but we'll find 89 00:04:03,840 --> 00:04:05,680 Speaker 4: out what the business really is. I always feel like 90 00:04:05,720 --> 00:04:07,200 Speaker 4: that's your great good checks. 91 00:04:06,920 --> 00:04:10,320 Speaker 3: All right, Isabelle? Finally Amazon a company that's on your 92 00:04:10,400 --> 00:04:13,640 Speaker 3: radar today? Is it because of the TikTok news? 93 00:04:13,680 --> 00:04:16,919 Speaker 1: Potentially two headlines related to that. So first is that 94 00:04:17,240 --> 00:04:19,200 Speaker 1: we have New York Times reporting that the e commerce 95 00:04:19,200 --> 00:04:21,560 Speaker 1: giant is really just swooping in with the last minute 96 00:04:21,600 --> 00:04:25,799 Speaker 1: offer to buy TikTok. They have TikTok are several offers, 97 00:04:25,839 --> 00:04:28,480 Speaker 1: like from Oracle, but some people are saying it's not 98 00:04:28,520 --> 00:04:30,880 Speaker 1: really serious. And you see Oracle shares didn't really budge 99 00:04:30,920 --> 00:04:33,800 Speaker 1: after this news. Another headline is Amazon saying it will 100 00:04:33,839 --> 00:04:36,520 Speaker 1: launch the first batch of satellites to power its quote 101 00:04:36,640 --> 00:04:39,799 Speaker 1: Internet from Space initiative. This is projectis apriline. 102 00:04:39,920 --> 00:04:42,240 Speaker 3: Yes, this is long delayed. This is big news. 103 00:04:42,480 --> 00:04:45,400 Speaker 1: Yes, it's very big news. And the business that's dominated today, 104 00:04:45,560 --> 00:04:48,640 Speaker 1: the business dominating that today is BaseX Starlink. So again, 105 00:04:48,720 --> 00:04:52,120 Speaker 1: another Elon Musk thread in there. But that's great news 106 00:04:52,120 --> 00:04:55,360 Speaker 1: for Amazon and that's why shares are probably popping one 107 00:04:55,400 --> 00:04:56,279 Speaker 1: and a half percent. 108 00:04:56,560 --> 00:04:58,440 Speaker 4: Yeah, it's kind of interesting, right, I mean great, it's 109 00:04:58,480 --> 00:05:01,479 Speaker 4: turned out to be a pretty decent business right for 110 00:05:01,839 --> 00:05:02,520 Speaker 4: first space. 111 00:05:03,640 --> 00:05:06,080 Speaker 3: But we'll see if Amazon can actually hold a candle 112 00:05:06,080 --> 00:05:07,000 Speaker 3: to what SpaceX can. 113 00:05:06,920 --> 00:05:08,040 Speaker 2: Get product out there. 114 00:05:08,080 --> 00:05:10,360 Speaker 1: Though it is, but I feel like it. I mean, 115 00:05:10,400 --> 00:05:14,800 Speaker 1: you deliver Internet connectivity to companies, governments, to consumers. There's 116 00:05:14,880 --> 00:05:17,200 Speaker 1: a little bit of purpose driven in that. I mean, 117 00:05:17,240 --> 00:05:17,760 Speaker 1: you see it. 118 00:05:17,800 --> 00:05:19,279 Speaker 4: Are you starling, I've got a starlink. 119 00:05:19,600 --> 00:05:19,800 Speaker 2: Yeah. 120 00:05:19,839 --> 00:05:22,039 Speaker 4: Yeah, like people who are you know out on you 121 00:05:22,080 --> 00:05:27,720 Speaker 4: know RV's or booths V on my RV room room. 122 00:05:27,800 --> 00:05:28,760 Speaker 1: No, that's a motorcycle. 123 00:05:29,000 --> 00:05:30,640 Speaker 4: No, but yeah, I mean I get it, like, and 124 00:05:30,680 --> 00:05:34,799 Speaker 4: there's different layers in terms of you. So yeah, maybe 125 00:05:34,800 --> 00:05:35,280 Speaker 4: on my RV. 126 00:05:35,360 --> 00:05:36,160 Speaker 1: Would you have a problem with that? 127 00:05:36,400 --> 00:05:37,159 Speaker 3: No, that's cool. 128 00:05:39,080 --> 00:05:43,240 Speaker 2: The Stock Movers podcast from Bloomberg Radio. 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