WEBVTT - SpaceX Falls, CME Group Drops, Coinbase Sinks After New Product Announcements

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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, take

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<v Speaker 2>a look at some of the stocks on the move today.

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<v Speaker 2>We can do that with Christina, you know, she's a

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<v Speaker 2>managing editor Markets Today for Bloomberg News.

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<v Speaker 1>Christine, what are you looking at today? We got to

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<v Speaker 1>take a look, of course at SpaceX here. I mean

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<v Speaker 1>Charlie mentioned it right. We're seeing a little bit of

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<v Speaker 1>a decline now, so it took her sp CX. Those

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<v Speaker 1>shres are now down more than four percent at the moment,

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<v Speaker 1>so we're seeing a little bit of that kind of

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<v Speaker 1>getting back to normal after the sky high, very hot

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<v Speaker 1>debut last week. But still, as we know from yesterday,

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<v Speaker 1>SpaceX did become the fifth largest stock in the world,

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<v Speaker 1>overtaking Amazon and briefly even topping Microsoft, and you know,

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<v Speaker 1>retail activities still remains strong. Some data from Vanda Research

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<v Speaker 1>showing that retail investors each day since the SpaceX IPO

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<v Speaker 1>have been buying and at the same time, apparently we've

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<v Speaker 1>been seeing a little bit of Tesla shares being sold,

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<v Speaker 1>a little bit of a rotation within the Elon Musk complex. Yeah,

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<v Speaker 1>and we had anticipated that there will be some kind

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<v Speaker 1>of movement like that because people wanted to make room

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<v Speaker 1>in their portfolios.

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<v Speaker 2>All right. Next up on your list a company based

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<v Speaker 2>in Chicago.

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<v Speaker 1>Absolutely, SCARLT. We're talking about CMME. Of course, a leadership

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<v Speaker 1>change over there. So CEO Terry Duffy will step down

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<v Speaker 1>on March first. That's going to be next year in

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<v Speaker 1>transition to executive chairman and filling his shoes going to

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<v Speaker 1>be Lynn Fitzpatrick. So seem under Duffy's reign has grown

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<v Speaker 1>to more than ninety billion dollars in terms of market

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<v Speaker 1>cap since it went public in two thousand and two.

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<v Speaker 1>And of course, Duffy led a company through a series

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<v Speaker 1>of shifts and deals, including a twenty twenty one deal

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<v Speaker 1>with Google to help the derivetives exchange operator with its

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<v Speaker 1>technology needs. I was in Chicago actually over the weekend,

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<v Speaker 1>great weather. I'm not sure about the pizza.

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<v Speaker 2>Not sure about of pizza. I like the Jeta Oh,

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<v Speaker 2>I mean it's different, but it's not really pizza. It's

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<v Speaker 2>something else.

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<v Speaker 1>It's like what's with pizza?

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<v Speaker 2>It's like a kish with sauce.

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<v Speaker 1>Yeah, it's good though, Coinbase one more. All right, let's

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<v Speaker 1>talk about coin Base today. So not much movement actually

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<v Speaker 1>there ticker COI and those shares are up now just

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<v Speaker 1>two tens of one percent, But we did see some

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<v Speaker 1>pre market declines after the company announced that it redesigned

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<v Speaker 1>its Base app and introducing new products like an AI

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<v Speaker 1>powered advisor, private transactions, pre IPO, perpetual futures options trading,

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<v Speaker 1>and token ised stocks. That is a lot and analysts

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<v Speaker 1>are receiving it as a mixed bag. Piper Sandler is

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<v Speaker 1>Patrick Mowley noting that, you know, they've announced a lot

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<v Speaker 1>of new products, but there's a lot of pressure as

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<v Speaker 1>well for them to monetize these new offerings, and of

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<v Speaker 1>course it doesn't help. Bitcoins still very much under pressure

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<v Speaker 1>and has yet to recover to that seventy thousand handle

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<v Speaker 1>that we saw over April and May.

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<v Speaker 2>The Stock Mover's report from Bloomberg Radio. Check back with

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