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Speaker 1: Let's get to some stocks on the move on this
Speaker 1: Wednesday with This is Bloomberg News. Cross At reporter Isabelle Lee.
Speaker 1: Isabelle is in the studio. We've been talking a lot
Speaker 1: about retail with a good reason.
Speaker 3: Definitely good reason. So I'm talking about game Stop. Shares
Speaker 3: are actually falling almost ten percent. So that comes after
Speaker 3: it announced that it will purchase more than four thy
Speaker 3: seven hundred bitcoin. So this is the first bitcoin purchase
Speaker 3: after it announced plants in March. So of course this
Speaker 3: follows in the footsteps of Michael Saylor's strategy and game
Speaker 3: Shop just really joins the growing list of public companies
Speaker 3: putting bitcoin on its balance sheet. I think this is
Speaker 3: interesting because the accounting of bitcoin has been questionable, we're
Speaker 3: called them. Over the past quarters, we have seen an
Speaker 3: adjustment with how Strategy has accounted for their bitcoin gains
Speaker 3: or losses. So but we still see a growing list
Speaker 3: of companies adding to it. Definitely inspired by the stratosphy
Speaker 3: or gains that Strategy has seen.
Speaker 4: I just hear game Stop and I got to look.
Speaker 3: I know, it's like, what is the business you think
Speaker 3: of twenty twenty one when it was a meme? Stock
Speaker 3: or the empty stores when you walk by them.
Speaker 5: Yeah, I think it's also a challenge for investors who
Speaker 5: want to hear from company executives about what the strategy is.
Speaker 5: And you know, they have these earnings calls that end
Speaker 5: up being not actual question and answer sessions. The press
Speaker 5: releases lack detail, but still we're talking about it.
Speaker 3: I feel like, once you do this, there's no turning back.
Speaker 3: You know. It feels like I'm not saying it will
Speaker 3: do any it will ruin a reputation, but it will
Speaker 3: do something to it.
Speaker 4: It's like, I think it's.
Speaker 1: Fair to say, right, investors look at it differently, right
Speaker 1: as they try to figure out kind of what it's,
Speaker 1: what it's going.
Speaker 4: But nonetheless, on the move today, where do you want
Speaker 4: to go next?
Speaker 3: I want to go to Abercrombie and Fitch see retail,
Speaker 3: Okay those could be I guess yes, Stock is searging
Speaker 3: doubles up by thirteen percent, So it's a good day
Speaker 3: for this doc. They surged the most inter day in
Speaker 3: over a year, although paired back some of those games,
Speaker 3: but still that's thirteen percent. So the retailer increase, it's
Speaker 3: full your outlook, and it just really suggests confidence in
Speaker 3: its ability to just navigate this really uncertain tariff landscape.
Speaker 3: So Abercrombie now is these fullier net sales growth of
Speaker 3: three or six percent, that's up from its March estimates,
Speaker 3: and if this includes approximately fifty million of tariff expenses,
Speaker 3: so that's good news for them. I actually have been
Speaker 3: liking Abercrombie and Fitch personally.
Speaker 4: Abercrombie or Hollister or Abercrombie.
Speaker 5: That's what I was going to ask, because is Mary
Speaker 5: Ross Gilbert has like are you looking at me?
Speaker 1: Some of their vintage doesn't look like two shirts crass shirts?
Speaker 4: Just ask you?
Speaker 5: Does like I buy any clothes?
Speaker 4: You do have a mode? Yeah?
Speaker 3: Show me all though with this top? Actually I think,
Speaker 3: is you what are wearing? Yes, they frevamped to office clothes, but.
Speaker 4: Abergom and Fitch still dad like forty one percent year
Speaker 4: to day, like we you know, it's it's it's a story.
Speaker 4: It's a story. Okay. Looked like my by club.
Speaker 3: The only vice gloves for his Pointson ivs, Yes, exactly,
Speaker 3: it's Joey and friends.
Speaker 4: We're all waiting for.
Speaker 3: Yes, this is It's not moving by much, up by
Speaker 3: just almost one percent, but I think it's really the
Speaker 3: talk of the day or the week. I mean, the
Speaker 3: company starout the early season, so it shares jump forty
Speaker 3: percent from the April low, and it reports just in
Speaker 3: over an hour after the market closes.
Speaker 4: It's the less of the big tech to do so.
Speaker 3: And it's kind of encouraging because Microsoft and Meta have
Speaker 3: showed outlook that were made mostly in tech. So I
Speaker 3: think investors are really hedging their bets because that, of
Speaker 3: course overall has fueled a tech rebound. We are seeing though,
Speaker 3: based on options, that a roughly six percent move is
Speaker 3: expected for in video and that's kind of low compared
Speaker 3: to the roughly eight percent average in the past, and
Speaker 3: that's according to options pricing.
Speaker 4: So I think this it's.
Speaker 3: Because before in video was the story, but now it's
Speaker 3: moved on. It's more tech or I meane inflation or
Speaker 3: recession fears, but not really in vidio anymore. You rarely
Speaker 3: see it driving Macro.
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