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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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Speaker 1: your roundup of companies making moves in the stock market,

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Speaker 1: harnessing the power of Bloomberg Data.

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Speaker 2: Let's take a look at some of the stocks on

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Speaker 2: the move today. We're joined by Bloombergs tay A Lisa.

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Speaker 1: What we do yet?

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Speaker 2: All right?

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Speaker 3: I want to start with Game Stop, you know, struggling

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Speaker 3: video game retailer, this favorite of retail trailers and the

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Speaker 3: memes stock frenzy in twenty twenty one. So the big

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Speaker 3: news there is that it's board has adopted this policy

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Speaker 3: to buy bitcoin. It's really trying to capitalize on the

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Speaker 3: surge and the digital asset.

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Speaker 2: It shares well.

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Speaker 3: They rose about six percent, and after hours trading yesterday

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Speaker 3: this morning they've been up as much as seventeen percent.

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Speaker 3: The stock down about nineteen percent so far this year.

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Speaker 3: But it's more companies. They're using corporate cash, maybe borrowed

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Speaker 3: money to buy bitcoin. You think about Michael Salor Strategy, right,

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Speaker 3: the software company known as micro Strategy. It really started

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Speaker 3: to kick things off. It acquired more than forty billion dollars.

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Speaker 3: There's a bigcoin. It's seen its share price sore so

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Speaker 3: The question really is what's the appeal to investors, right

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Speaker 3: of public companies that have a big bitcoin holding on

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Speaker 3: their balance sheet. They're looking to gain exposure to the

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Speaker 3: asset class and the stock market while not dealing with

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Speaker 3: bitcoin directly. So that's the reason why this appeal to

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Speaker 3: it is stocks up today. Yeah, so it's done, done,

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Speaker 3: done pretty well. But they did report fourth quarter revenue

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Speaker 3: declined about twenty eight percent to one point two eight

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Speaker 3: billion from the year ago period. Does that matter, Yeah,

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Speaker 3: exactly after this big news.

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Speaker 2: I know, it's same.

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Speaker 3: Is kind of true for dollars for you, if you

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Speaker 3: think about it.

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Speaker 2: Look as dollar stores. I don't know how you differentiate

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Speaker 2: between them as an investor, dollar Free, dollar General.

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Speaker 3: You know, it's interesting to tell you they, along with Target,

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Speaker 3: used to be housed in the discretionary sector in the

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Speaker 3: S and P five hundred. Then two years ago they

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Speaker 3: got moved over to the staples sector.

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Speaker 1: A lot of it had to do with their grocery

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Speaker 1: percentage business.

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Speaker 3: So they're there along with Walmart in staples category. Yeah,

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Speaker 3: so that's their big that's the big problem that they had.

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Speaker 3: The Walmart and Aldi too, was like their big competition.

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Speaker 2: All these all over the place.

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Speaker 3: Yes, they are. I go there, I love aldi guys,

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Speaker 3: let's get a dollar drink. Okay, So they're shared. It's

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Speaker 3: been up as much as four percent, right, So it's

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Speaker 3: kind of a disappointing end because they've really been trying

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Speaker 3: to establish yourself as this discount giant. So basically it's

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Speaker 3: selling its Family Dollar chain for about a billion dollars

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Speaker 3: to Brigade Capital Management and ma Sellum Capital Management. And

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Speaker 3: that's really a big discount because it was nearly nine

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Speaker 3: billion dollars that it paid for Family Dollar when it

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Speaker 3: bought it about a decade ago. The deal expected to

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Speaker 3: close next quarter. It's likely going to cut those Dollar

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Speaker 3: Tree stores count in half, so you'll probably see less

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Speaker 3: of the stores around. I mean, it's not a total surprise.

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Speaker 3: The company did say in June was looking into different options.

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Speaker 3: But yeah, facing more competition, guys, you said it.

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Speaker 2: Yeah, I mean there's just a I don't know about

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Speaker 2: that part of the market because you hear about how

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Speaker 2: do you compete against Walmart Target? But I guess if

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Speaker 2: you're Dollar treating a dollar general, that's a that's another level.

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Speaker 3: It's a different business, right a little bit, and maybe

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Speaker 3: a different shopper too, exactly, and and there's things you

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Speaker 3: can find even cheaper at the dollar stores than some

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Speaker 3: of these other retailers.

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Speaker 1: Exactly.

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Speaker 2: All right, how about Trump Media and technolog Yeah, EJT.

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Speaker 3: Did you remember yesterday right, we spoke the news that

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Speaker 3: it broke that it was tapping Singapore's Crypto dot Com

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Speaker 3: for this Made in America ETFs and that had its

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Speaker 3: shares higher. But this morning we're seeing.

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Speaker 2: A little bit of a shift.

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Speaker 3: It's lower shares were down as much as about three percent.

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Speaker 3: So just to recap, the products are going to be

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Speaker 3: available this year in the US, Europe, Asia, pending regulatory approval,

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Speaker 3: of course, but it's going to include Chronos that's a

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Speaker 3: virtual currency affiliated with Crypto dot com. But what I

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Speaker 3: found interesting about the story is at Crypto dot Com,

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Speaker 3: if you remember, it was previously an illegal battle with

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Speaker 3: the US regulators last year. Then it dropped the complaint

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Speaker 3: after Trump's election victory. So the administration has really been

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Speaker 3: starting to ease those restrictions on the digital asset industry.

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Speaker 3: So it's just quite a difference that we see from

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Speaker 3: yesterday and then moving into today where those shares started

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Speaker 3: to get lower.

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Speaker 2: Now Stuck's down the thirty three percent year to date,

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Speaker 2: off about sixty percent over the trailing twelve months. So

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Speaker 2: for the DJT, So the DJT keep an eye.

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Speaker 3: On that, and he's the easy Trump Media's largest shareholder

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Speaker 3: as the president.

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Speaker 1: The Stockmovers podcast from Bloomberg Radio, check back with us

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Speaker 1: throughout the day for the latest roundup of companies making

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Speaker 1: news on Wall Street and for the latest market moving headlines.

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