Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Time for stocks on the move actually.
Speaker 2: Is belly.
Speaker 1: What are your favorite movers and shakers as we reach
Speaker 1: the end of our day. There's some interesting moves that
Speaker 1: I wouldn't think would be going the direction they have
Speaker 1: been going today.
Speaker 3: The biggest shaker, of course, is SpaceX. I think everyone
Speaker 3: wants to talk about this. And shares decline for the
Speaker 3: first time since it's record IPO, so it's not a
Speaker 3: three day winning streak. In those three days it gained
Speaker 3: as much as fifty percent, and now we saw pullback
Speaker 3: just five percent. But still, of course it's SpaceX. You're stopping.
Speaker 1: It's inevitable, though, I.
Speaker 3: Mean exactly, it's a voltile session, and I mean earlier
Speaker 3: today we saw the stock pop six percent, so I mean,
Speaker 3: sure we have a pullback of five percent. To your point,
Speaker 3: we do have a manager quoted in the story saying
Speaker 3: it's not that big of a deal. I would be
Speaker 3: more surprise or panicky, of course if it was a
Speaker 3: bigger drop. But you know, I mean, I guess the
Speaker 3: big thing is the decline made them fall back below
Speaker 3: Amazon's market cap. So I mean, you know, yesterday everyone's
Speaker 3: making a big deal about how SpaceX is above Amazon
Speaker 3: and briefly Microsoft, and now it's below Amazon. But it's
Speaker 3: just the sixth largest company, you know, just six It's
Speaker 3: it's not a big.
Speaker 1: Cash We're going to be fine. Really, they're going to
Speaker 1: be fine.
Speaker 3: And again one important point though, I mean, we know
Speaker 3: that the shares available to trade is a small portion
Speaker 3: because of the float and all that weedy thing. So
Speaker 3: that's probably why it's not like all of SpaceX, all
Speaker 3: of its nearly three triller market cap can be traded.
Speaker 3: So that's also one thing. Ticker is SPCX.
Speaker 1: What else you got?
Speaker 3: CarMax ticker KMX shares drop nearly nine percent after its
Speaker 3: same story sales and used car profit declined for a
Speaker 3: fourth straight quarter. So this raised a lot of questions
Speaker 3: about the durability of its turnaround effort. The stock is
Speaker 3: gained thirty five percent this year, though, but it's still
Speaker 3: down around two third since it's twenty twenty one high.
Speaker 3: So it was big during the pandemic for the meme
Speaker 3: stock era, so it was one of them.
Speaker 1: That's really interesting to me because I know we're in
Speaker 1: New York now where people don't have cars, but like
Speaker 1: more of them, I don't either, but I did, and
Speaker 1: I did buy a car at CarMax, and everyone I
Speaker 1: knew a car CarMax. Yeah, there's the car vending machine. No, no,
Speaker 1: that's Carvana Carbon that's wait.
Speaker 3: How do you feel now that you don't have a car?
Speaker 1: I miss my car. I don't miss trying to park
Speaker 1: my car, but I do miss just being able to
Speaker 1: jump in the car and leave the city. However, I'm
Speaker 1: subwaying It's okay. Yeah, I actually rented a car this
Speaker 1: weekend and it was very expensive.
Speaker 3: Oh really, yeah it wasn't you know.
Speaker 1: It's not as easy as just yeah, I just rent
Speaker 1: a car like it was a pretty large check. Used
Speaker 1: cars are still very expensive, yeah, Exactually, I wonder if
Speaker 1: it's why Carmacks is struggling little bit, because people are
Speaker 1: holding onto the cars that they've got. They're not buying new,
Speaker 1: even new used at the moment.
Speaker 3: That's why I stick it to my two ninety one
Speaker 3: way metro fee deal.
Speaker 1: It's a good deal.
Speaker 2: Okay, one more stock.
Speaker 3: I'm excited about this ticker is a bird. It's smart Bird.
Speaker 3: It used to be all birds, and just for the
Speaker 3: two of you, Oh, this is all alvert sneakers. Our
Speaker 3: listeners cannot see it. It's a ballet flat. That's all birds.
Speaker 1: I love the glorious Salawa.
Speaker 3: I really like it. I have it in two colors.
Speaker 3: So when I saw that they rebranded in smart Birds,
Speaker 3: I was like, what anyway? So the stock rallied forty
Speaker 3: seven percent. They were formerly known as Alberts. As I
Speaker 3: said fifteen times, this is the biggest intro day gain
Speaker 3: since April fifteen. So we all know it's a shoemaker
Speaker 3: turned AI firm. I mean, who has not turned into
Speaker 3: an AI firm. They also made an announcement that they
Speaker 3: appointed Nadia Carlston as their president and CEO and Lily
Speaker 3: Yan Hughes as board chair. So smart Bird, smart Bird. Now,
Speaker 3: I guess it's struggling just like many other companies, and
Speaker 3: they're trying to capitalize on the AI frenzy, you know,
Speaker 3: trying to remember in the dot com everyone wanted a
Speaker 3: dot com in their name. I'm not saying that this
Speaker 3: is what they're doing. I'm sure they thought about it well,
Speaker 3: but it's hard to ignore that. I mean, the hot
Speaker 3: thing right now is AI and they're trying to be AI.
Speaker 1: This one confuses me a little bit because we are
Speaker 1: starting to see a cooling off on an investment in
Speaker 1: places where the software side is not as essential as
Speaker 1: other places. Right, Like, yes, Mendeep Singh introduced me to
Speaker 1: the phrase disintermediation. But basically, if they can pull you
Speaker 1: out easily, that's going to impact your stock. So if
Speaker 1: you're not crucial, it's not Maybe I know it's buzzy
Speaker 1: and exciting, but maybe not the best way to pay
Speaker 1: your companies. So, like, what are they providing that other
Speaker 1: non shoe brand turned AI companies.
Speaker 3: I think it remains to be seen. Before now investors
Speaker 3: are probably celebrating. That's why you see shares gaining fifty
Speaker 3: percent in double digits. Yeah, I know, So now I
Speaker 3: don't know what am I going to call my shoes
Speaker 3: now when someone asks you have nice shoes, you can.
Speaker 1: Call they're cute. Just here, thank you, They're cute.
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