WEBVTT - Marijuana Stocks Fall, Micron Jumps, Lululemon Surges

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<v Speaker 1>Bloomberg Audio, Studios, podcasts, radio news.

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<v Speaker 2>The Stock Mover's Report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Carol master Long, which Tim Stank. Let's get to

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<v Speaker 1>some stocks on the move on this Thursday. Bloomberg News

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<v Speaker 1>crossset reporter Isabelle Lee is in the house. Do we

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<v Speaker 1>start with something that will make Matt Miller happy? Okay?

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<v Speaker 3>What things make him happy? Is it's airline Lula Lemon.

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<v Speaker 2>No, but we'll.

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<v Speaker 1>Get to it later. We'll get pod stock. Sorry, man,

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<v Speaker 1>that's not even on the list.

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<v Speaker 3>It was surprised.

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<v Speaker 1>It was because we know President Trump's at the executive

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<v Speaker 1>order changing the drug classification.

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<v Speaker 3>Yes there, to move cannabis into a less restrictive federal category.

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<v Speaker 2>Sorry.

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<v Speaker 3>Is that in motion a regulatory shift that could alter

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<v Speaker 3>the legal and the commercial landscape for drugs. Basically, he's

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<v Speaker 3>instructing the Justice Department to begin steps needed to shift

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<v Speaker 3>cannabis to a tier reserve for drugs with accepted medical uses.

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<v Speaker 3>I'm looking at till Ray and kind of be tail Ray,

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<v Speaker 3>t l r Y and kind of b c GC.

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<v Speaker 3>But booth shares are edging lower by one point three

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<v Speaker 3>percent and three and a half percent, respectively, which.

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<v Speaker 1>Was priced in. Maybe that's a good explanation. I mean,

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<v Speaker 1>look what happened earlier this week, like what happened last year.

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<v Speaker 1>How many days have there been gainers where I'm like, care,

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<v Speaker 1>we got to do pot stock? Yeah, I mean it

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<v Speaker 1>was that happen.

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<v Speaker 3>They slipped into negative chill.

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<v Speaker 1>It was up twenty two percent earlier today.

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<v Speaker 3>Yes, and now it's yeah, maybe it's price and it's

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<v Speaker 3>down three point eighteen percent. I have to cross that up.

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<v Speaker 1>All of my grainers. Less to be claire and fully transparent.

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<v Speaker 1>Matt just likes to talk about it, and so I

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<v Speaker 1>just don't want to.

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<v Speaker 3>You know, good, that's a good save. I I like

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<v Speaker 3>talking about it. Pod stocks, it's just want to.

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<v Speaker 1>Talk like talking about them. I like talking about chips,

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<v Speaker 1>do you I like talking about chips? Sounds like sounds

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<v Speaker 1>like we got a micro micro.

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<v Speaker 3>I love this rumble dumble. So Micron ticker is m you.

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<v Speaker 3>The stock is up by just eleven percent, and that's

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<v Speaker 3>after the chip maker gave an outlook that was eighty

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<v Speaker 3>percent hired and estimates. I was here yesterday and we

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<v Speaker 3>were talking about it and the optimism is continuing. This

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<v Speaker 3>is the highest in at least eight months, and the

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<v Speaker 3>stock is up by nearly one hundred and seventy percent

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<v Speaker 3>this year. So the CEO of Micron said its position

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<v Speaker 3>as an essential AI enabler. And again we were talking

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<v Speaker 3>about this Carol is because of the intense demand and

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<v Speaker 3>supply can't need it. And it's good for Micron because

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<v Speaker 3>then it puts them in a good spot. Totally.

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<v Speaker 1>Okay, before I let you go, just give us twenty

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<v Speaker 1>seconds on Lulu. Shares are surging today.

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<v Speaker 3>Shares are surging. I love Lululemon, the product, but the

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<v Speaker 3>stock is up by four percent. We have news that

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<v Speaker 3>activist investor Elliott Management has built a stake of one

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<v Speaker 3>billion dollars in the company. And this comes after the

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<v Speaker 3>company has really been struggling to turn around their business

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<v Speaker 3>after the exit of their CEO. Elliott for months has

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<v Speaker 3>been working with Jane Nielsen, so she's the former CFO

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<v Speaker 3>and CEO at the Ralph Lauren. In fact, sources told

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<v Speaker 3>Wall Street Journal that they want Jane Nielsen to potentially

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<v Speaker 3>be the CEO.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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