WEBVTT - 3M Drops, Strategy Falls, ImmunityBio Drops After FDA Meeting Update  

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

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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

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<v Speaker 1>Let's take a look at some stocks on the move today.

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<v Speaker 1>I'm Scarlett Foo here with Paul Sweeney and we're joined

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<v Speaker 1>by our one and only, Billy Lipshultz. Billy, what do

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<v Speaker 1>you have?

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<v Speaker 3>Yeah, I want to look at one of the worst

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<v Speaker 3>performers in the SB five hundred, the worst performer in

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<v Speaker 3>the now that is three M ticker MMM. This came

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<v Speaker 3>after the industrial company's outlook for the year. I just

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<v Speaker 3>earnings midpoint below what Wall Street was looking for. JP

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<v Speaker 3>Morgan calling it mix. One of the things that stood

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<v Speaker 3>out to me looking through the analyst call and some

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<v Speaker 3>of the results was kind of the CEO is pitching

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<v Speaker 3>the maker of post its as reorienting it towards sectors

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<v Speaker 3>that are hot, think data centers. Bank of America, though

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<v Speaker 3>calling out that data center activity only counsel about three

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<v Speaker 3>percent of their revenue. So as much as you want

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<v Speaker 3>to lead into nuclear facilities and data centers, things that

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<v Speaker 3>are all the age not quite working out. So the

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<v Speaker 3>stockdown right now about seven and a half percent, biggest

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<v Speaker 3>drop since Friday of tariff Day back in April, So

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<v Speaker 3>a pretty big move to the downside again, weighing on

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<v Speaker 3>the Dow. Also weighing on the SP five hundred.

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<v Speaker 2>All right, what else do you have for us?

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<v Speaker 3>Looking at micro Strategy, I imagine that's one of your favorites,

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<v Speaker 3>Paul ticker mstr. They are the bitcoin hoarding company. So

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<v Speaker 3>they announced that they bought more than two billion dollars

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<v Speaker 3>a bitcoin last week. Michael Saylor kind of continuing to

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<v Speaker 3>lead into that bet. The interesting thing is seemingly when

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<v Speaker 3>they buy, they're buying at the highs and then we

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<v Speaker 3>see the token pull back. So right now bitcoin trading

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<v Speaker 3>just north of ninety thousand dollars per token. So when

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<v Speaker 3>you go out and buy twenty two thousand dollars twenty

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<v Speaker 3>two thousand bitcoin and then see the price pull back,

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<v Speaker 3>not really good for you bottom line. So Strategy tickerr

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<v Speaker 3>MSTR down again more than six call it almost seven percent,

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<v Speaker 3>biggest drop since earlier this year.

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<v Speaker 1>And we're going to talk about this and other crypto

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<v Speaker 1>issues on Bloomberg Crypto today at twelve pm Eastern time

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<v Speaker 1>on Bloomberg Television. Stop that you're watching all.

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<v Speaker 3>Right, Paul knows I love to talk biotech. So Immunity

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<v Speaker 3>Biotechnical IPRX right now more than thirty four percent. This

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<v Speaker 3>is a now seven and a half billion dollar market cap.

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<v Speaker 3>So this is a drug developer that had a positive

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<v Speaker 3>meeting with the FDA. We're regarding and an application for

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<v Speaker 3>a strug treat and bladder cancer. The thing again, that's

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<v Speaker 3>interesting for this company. Not only is it up thirty

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<v Speaker 3>four percent in trading at the highest level since the

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<v Speaker 3>summer of twenty twenty four, it's hurting short seller shorts

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<v Speaker 3>betting against the talk about thirty six percent of the

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<v Speaker 3>share shorted. So whether today is a positive move or

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<v Speaker 3>really just shorts trying to cover their bets against the

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<v Speaker 3>company one bright spot in day that's for all intentsive purposes,

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<v Speaker 3>been pretty chop it choppy for equity markets. I get

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<v Speaker 3>another biotech stock moving again, it's either it's binary, thing

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<v Speaker 3>works stock possible. And this is a stock that had

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<v Speaker 3>a winning streak to start the year, was trading below

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<v Speaker 3>two bucks at the end of twenty twenty five, right

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<v Speaker 3>now north of seven. So if you bought again, took

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<v Speaker 3>a lotto take it on. An immunity Bio at the

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<v Speaker 3>end of December working out pretty good.

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<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

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<v Speaker 2>throughout the day for the latest roundup of companies making

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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