1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:16,960 --> 00:00:19,279 Speaker 3: I'm Jim Stanebeck along with Carol Masser. Let's take a 5 00:00:19,280 --> 00:00:21,840 Speaker 3: look at some stocks on the move today. Joining us 6 00:00:21,840 --> 00:00:25,200 Speaker 3: now is Bloomberg News Acuities reporter Alexandra Semenova. 7 00:00:25,800 --> 00:00:28,280 Speaker 1: Alex what is on your radar? 8 00:00:28,520 --> 00:00:31,040 Speaker 4: Hey, guys, So it is actually kind of an uneventful 9 00:00:31,120 --> 00:00:34,520 Speaker 4: day in the market, closing flat after the U turn, 10 00:00:34,560 --> 00:00:36,159 Speaker 4: But there were some interesting. 11 00:00:35,920 --> 00:00:37,800 Speaker 1: DRAMs earlier in the session. 12 00:00:37,520 --> 00:00:40,880 Speaker 4: Right exactly. Everyone shrugged it off. We're all good now. 13 00:00:40,920 --> 00:00:43,000 Speaker 4: But one of the companies I'm looking at that is 14 00:00:43,040 --> 00:00:46,200 Speaker 4: doing really well today is the bankrupt Genetic Testing from 15 00:00:46,280 --> 00:00:49,840 Speaker 4: twenty three and meter. They agreed to sell their data 16 00:00:49,840 --> 00:00:53,080 Speaker 4: bank to General Pharmaceuticals for two hundred and fifty six 17 00:00:53,120 --> 00:00:56,440 Speaker 4: million dollars, which is kind of scary just sharing people's data, 18 00:00:56,440 --> 00:00:58,840 Speaker 4: but investors seem to like that. It's up about two 19 00:00:58,880 --> 00:00:59,840 Speaker 4: hundred percent today. 20 00:01:00,320 --> 00:01:02,360 Speaker 5: What was twenty three in meter at its height? Do 21 00:01:02,400 --> 00:01:02,880 Speaker 5: we even know? 22 00:01:03,280 --> 00:01:04,560 Speaker 1: I can go back to your look. 23 00:01:04,400 --> 00:01:06,120 Speaker 5: Okay, I didn't mean to throw that at you. But 24 00:01:06,160 --> 00:01:08,520 Speaker 5: I was just curious, like it's it is kind of amazing. 25 00:01:08,880 --> 00:01:11,679 Speaker 5: I thought, wow, what a lifeline, Yeah for this company, 26 00:01:11,720 --> 00:01:14,040 Speaker 5: right that has been around for a long time but 27 00:01:14,160 --> 00:01:16,720 Speaker 5: really got into certainly kind of a tougher place. 28 00:01:16,760 --> 00:01:18,520 Speaker 4: I guess you could say, yeah, and we know, you know, 29 00:01:18,560 --> 00:01:21,120 Speaker 4: some of the retail investors love buying up these bankrupt 30 00:01:21,200 --> 00:01:24,160 Speaker 4: stocks and if they can see these types of swings 31 00:01:24,200 --> 00:01:27,080 Speaker 4: like we saw today, and obviously that fareedwell for anyone 32 00:01:27,120 --> 00:01:27,760 Speaker 4: who stepped in. 33 00:01:27,880 --> 00:01:30,319 Speaker 5: It was a three hundred and fifty three dollars share 34 00:01:30,360 --> 00:01:34,560 Speaker 5: stock back in February twenty twenty one, not so long ago, 35 00:01:35,000 --> 00:01:37,479 Speaker 5: it was two dollars and seventy cents. 36 00:01:37,480 --> 00:01:38,080 Speaker 4: Incredible. 37 00:01:38,720 --> 00:01:41,080 Speaker 5: But listen, it's going to it found a new home, 38 00:01:41,080 --> 00:01:43,760 Speaker 5: which is pretty impressive. Let's go to Reddit. Read it 39 00:01:43,840 --> 00:01:44,800 Speaker 5: under some pressure to. 40 00:01:45,200 --> 00:01:48,360 Speaker 4: Speaking of you know, meme stocks, and got to talk 41 00:01:48,360 --> 00:01:52,360 Speaker 4: about Reddit. Will said they got a downgrade from Wells Fargo. 42 00:01:52,880 --> 00:01:56,400 Speaker 4: It fell four point six percent today in today's session. 43 00:01:56,760 --> 00:01:59,640 Speaker 4: They downgraded the stock to equal weight from overweight. They 44 00:01:59,680 --> 00:02:03,280 Speaker 4: pointed to to user disruptions that are likely to be 45 00:02:03,360 --> 00:02:07,960 Speaker 4: more permanent as Google aggressively implements AI features and it searched. 46 00:02:08,000 --> 00:02:10,760 Speaker 4: They said that that changes the user behavior for the company, 47 00:02:10,800 --> 00:02:12,520 Speaker 4: and obviously investors really didn't. 48 00:02:12,280 --> 00:02:14,360 Speaker 1: Like that this one. You used Reddit, I thought all 49 00:02:14,360 --> 00:02:16,600 Speaker 1: the time, but red I had to hide it on 50 00:02:16,680 --> 00:02:17,840 Speaker 1: my phone. Oh I love it. 51 00:02:18,080 --> 00:02:18,280 Speaker 2: I am. 52 00:02:18,320 --> 00:02:20,000 Speaker 4: My friends make fun of me because I look up 53 00:02:20,000 --> 00:02:22,480 Speaker 4: everything on Reddit, just like random questions. 54 00:02:22,560 --> 00:02:24,560 Speaker 3: So you are you actually using the Reddit app? You're 55 00:02:24,560 --> 00:02:26,600 Speaker 3: going to Reddit and searching there? Are you like going 56 00:02:26,600 --> 00:02:27,960 Speaker 3: to googling something and then you put in. 57 00:02:28,280 --> 00:02:31,640 Speaker 4: I actually, yeah, use Google and pull up Reddit threads. 58 00:02:31,720 --> 00:02:33,560 Speaker 1: This was part of the cover. 59 00:02:33,440 --> 00:02:36,240 Speaker 3: Story of Business Week a few months ago when they 60 00:02:36,240 --> 00:02:38,880 Speaker 3: were writing. When our team was writing about the challenges 61 00:02:38,880 --> 00:02:42,200 Speaker 3: that Google faces in this AI world, I've now started 62 00:02:42,240 --> 00:02:45,480 Speaker 3: to oh, CC does the same thing. I've she googles 63 00:02:45,480 --> 00:02:48,320 Speaker 3: stuff and puts Reddit on there. I've now started asking 64 00:02:48,360 --> 00:02:51,400 Speaker 3: the AI chatbots the questions because they're sourcing. 65 00:02:51,440 --> 00:02:53,760 Speaker 1: Some of them are sourcing from Reddit as well Open AI. 66 00:02:53,840 --> 00:02:55,440 Speaker 1: For example, did you say go to Reddit? 67 00:02:55,639 --> 00:02:55,720 Speaker 2: No? 68 00:02:55,840 --> 00:02:57,840 Speaker 1: I just asked the question that I have and then 69 00:02:57,840 --> 00:02:58,840 Speaker 1: it goes to Reddit. No. 70 00:02:58,919 --> 00:03:01,480 Speaker 3: I mean it for it's whatever it's been trained on. 71 00:03:01,560 --> 00:03:04,000 Speaker 3: But you can see, at least with chat GPT, what 72 00:03:04,040 --> 00:03:06,880 Speaker 3: it's searching on, what it's what it's where the sources are, 73 00:03:07,040 --> 00:03:08,200 Speaker 3: and oftentimes it is Reddit. 74 00:03:08,280 --> 00:03:12,400 Speaker 5: So why is Google more aggressively implementing AI going to 75 00:03:12,480 --> 00:03:17,000 Speaker 5: hurt Reddit? Wouldn't it potentially help people? You should do 76 00:03:17,040 --> 00:03:19,519 Speaker 5: the faces. 77 00:03:19,560 --> 00:03:24,679 Speaker 4: It seems like it doesn't necessarily direct to Reddit. Okay, issue, Yeah, 78 00:03:24,720 --> 00:03:27,560 Speaker 4: it threatens not only Reddit but all firms dependent on 79 00:03:27,639 --> 00:03:31,600 Speaker 4: search traffic. And I guess today in particular this downgrade. 80 00:03:31,800 --> 00:03:33,320 Speaker 1: Oh yeah, that's a really good point. 81 00:03:33,400 --> 00:03:35,520 Speaker 3: If it shows you that instantly, and this is also 82 00:03:35,600 --> 00:03:38,720 Speaker 3: raised in the story Yeah, Bloomberg BusinessWeek. If it just 83 00:03:38,760 --> 00:03:40,480 Speaker 3: shows you the answer and you don't need to click 84 00:03:40,520 --> 00:03:44,080 Speaker 3: through to the site, then obviously the site won't get 85 00:03:44,080 --> 00:03:46,080 Speaker 3: the click for that, so it won't get the answer. 86 00:03:46,240 --> 00:03:47,920 Speaker 5: You understand the source and you're like. 87 00:03:47,880 --> 00:03:49,360 Speaker 4: I'm good with it, and now just pulls it up 88 00:03:49,360 --> 00:03:51,520 Speaker 4: in that little blurb when you Google something that says 89 00:03:51,600 --> 00:03:54,360 Speaker 4: AI overview and you're no longer going directly to Reddit. 90 00:03:54,400 --> 00:03:56,280 Speaker 1: I'm kind of mixed about that, are you? I am 91 00:03:56,280 --> 00:03:56,680 Speaker 1: a little bit. 92 00:03:56,720 --> 00:03:59,360 Speaker 3: It seems like you like it a lot, just based 93 00:03:59,400 --> 00:04:01,440 Speaker 3: on looking over your shoulder at how you're go going. 94 00:04:01,520 --> 00:04:03,760 Speaker 4: It makes things more efficient for us, but I guess 95 00:04:03,800 --> 00:04:04,600 Speaker 4: not for the company. 96 00:04:04,680 --> 00:04:06,040 Speaker 1: I don't know, I have a love hate. 97 00:04:06,080 --> 00:04:08,120 Speaker 5: I like to know, like sources, Like I like to 98 00:04:08,160 --> 00:04:09,720 Speaker 5: drill down a little bit and understand where this is. 99 00:04:09,720 --> 00:04:11,120 Speaker 1: There's a link in there. 100 00:04:11,200 --> 00:04:12,480 Speaker 5: No I know, but do you know what I mean? 101 00:04:12,520 --> 00:04:15,720 Speaker 1: Like, I kind of want to know. Okay, she loves cruises. 102 00:04:16,080 --> 00:04:20,560 Speaker 1: I loved she loves ships. Small cruising World. Caribbean is 103 00:04:20,560 --> 00:04:21,039 Speaker 1: on your radar. 104 00:04:21,120 --> 00:04:23,279 Speaker 4: Great news At a time that everyone is talking about 105 00:04:23,320 --> 00:04:27,160 Speaker 4: Moody's downgrading, the US Royal Caribbean actually got an upgrade. 106 00:04:27,600 --> 00:04:30,520 Speaker 4: They regained their investment grade status for Moody's. 107 00:04:30,720 --> 00:04:31,120 Speaker 1: UH. 108 00:04:31,520 --> 00:04:34,720 Speaker 4: They cited a stronger demand outlook and better credit metrics, 109 00:04:34,960 --> 00:04:38,080 Speaker 4: and that stock actually closed down just slightly zero point 110 00:04:38,080 --> 00:04:43,680 Speaker 4: five percent. But analysts are pretty positive on this. Moody's 111 00:04:43,760 --> 00:04:46,440 Speaker 4: Jonathan Root wrote in a statement, the upgrade and positive 112 00:04:46,480 --> 00:04:49,719 Speaker 4: rating outlook also reflects our expectation that the demand for 113 00:04:49,839 --> 00:04:52,159 Speaker 4: cruise cruises is going to continue to grow. I have 114 00:04:52,200 --> 00:04:54,600 Speaker 4: to say, you touched it from Carol to talk to 115 00:04:54,640 --> 00:04:55,440 Speaker 4: the cruising. 116 00:04:55,080 --> 00:04:57,320 Speaker 5: Guys though, all the CEOs, I mean, some of the 117 00:04:57,360 --> 00:05:00,440 Speaker 5: metrics and they talk about, you know, how how much 118 00:05:00,800 --> 00:05:03,360 Speaker 5: visibility they have and people booking out like a year 119 00:05:03,400 --> 00:05:05,839 Speaker 5: out or so in terms of their cruises, and these 120 00:05:05,880 --> 00:05:08,760 Speaker 5: guys all took on so much debt during the pandemic 121 00:05:08,960 --> 00:05:12,440 Speaker 5: and have really been working on pairing it back and 122 00:05:12,480 --> 00:05:15,919 Speaker 5: cutting it, reducing it, or at least refinancing it so 123 00:05:16,000 --> 00:05:17,200 Speaker 5: it's not so problematic. 124 00:05:18,680 --> 00:05:22,680 Speaker 2: The Stock Movers Report from Bloomberg Radio. 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