WEBVTT - Nike, Trump Media End Day Higher; Corcept Plunges

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

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

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

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<v Speaker 1>Let's get to some of the individual gainers and decliners.

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<v Speaker 3>Here to help break us down in today's market action

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<v Speaker 3>is Bloomberg News cross ass That reporter Isabelle Lee.

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<v Speaker 4>Happy New Year, Happy New Year.

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<v Speaker 5>I think they're around maybe six hours or so to

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<v Speaker 5>go till twenty.

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<v Speaker 4>Twenty six, depending on where you are, depending.

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<v Speaker 5>On where I am. Yes, because in my parents' country

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<v Speaker 5>in the Philippines, it's already twenty twenty six where they live.

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<v Speaker 5>In the future.

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<v Speaker 4>Oh, it's so far, so good, I think, so okay, good.

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<v Speaker 5>Far hours up to twenty twenty six.

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<v Speaker 4>Okay, off and running, off and running. So we got things.

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<v Speaker 3>We got another bullmarket, thirty year in a row of

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<v Speaker 3>a bull market for the S and P five hundred.

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<v Speaker 3>How are you looking at not just today's market action,

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<v Speaker 3>but how things are looking.

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<v Speaker 5>It's interesting because it's an exciting year of the AI

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<v Speaker 5>Riley Broaden. There were many good things that happened unexpected.

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<v Speaker 5>If you look at the year today performance of the SMP,

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<v Speaker 5>it's like the volatility in April didn't happen.

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<v Speaker 4>Isn't it shocking?

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<v Speaker 1>It's if I've fallen asleep for like a bunch of months.

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<v Speaker 5>We should have just done that, exactly should But if

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<v Speaker 5>you look to next year, inflation is still higher. There's

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<v Speaker 5>also anxiety about whether when the AI trade will pay

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<v Speaker 5>out right, and there's also just geopolitical tensions tailor risk

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<v Speaker 5>events that you don't know. That's why a lot of

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<v Speaker 5>the analysts we talked to were saying everything is maybe

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<v Speaker 5>priced to perfection. If you look at the strategists, everyone

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<v Speaker 5>is predicting double digit games, at least everyone that Bloomberg polls.

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<v Speaker 1>I'm blown away by how bullish strategists are at this point.

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<v Speaker 3>Well, to Isabel's point, the S and P five hundred

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<v Speaker 3>back on April eighth of this year, forty nine eighty two,

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<v Speaker 3>up up now more than thirty seven percent from those lows.

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<v Speaker 5>Yeah, can you imagine? And even bitcoin, I mean it

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<v Speaker 5>hit one hundred and twenty thousand. Well, bitcoin is a

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<v Speaker 5>different story now it's around eighty seven thousand. But the

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<v Speaker 5>price action was something that you would expect, because you

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<v Speaker 5>would expect bitcoin to behave like a risk acid and

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<v Speaker 5>to behave like the S and P and the NASSEC.

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<v Speaker 5>But it didn't. So maybe this is a defining year.

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<v Speaker 1>I think part of that is we're just not quite

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<v Speaker 1>sure still what bitcoin is.

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<v Speaker 5>That's a cryptocurrency.

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<v Speaker 1>Is it a currency? Is it an asset? Is it

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<v Speaker 1>a command because it's going.

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<v Speaker 5>To also act like a haven? No exactly?

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<v Speaker 1>Which is some you know that people have talked to me.

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<v Speaker 4>Maybe guys should watch our crypto.

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<v Speaker 5>Show to do every Tuesday. Okay, it's a highlight on

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<v Speaker 5>my tuesday.

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<v Speaker 4>Okay, thank you.

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<v Speaker 3>Oh come on, hey, okay, hey, before we do talk

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<v Speaker 3>about that gainers and decliners today, what's on your radar?

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<v Speaker 5>We have to talk about. Nike shares are up by

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<v Speaker 5>more than four percent. That's after it's CEO Elliott Hill

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<v Speaker 5>reportedly bought one million dollars worth of shares, and of

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<v Speaker 5>course this comes after Nike shares rallied last week after

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<v Speaker 5>Apple c O Tim Cook bought shares and he doubled

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<v Speaker 5>his stake. He bought around three million dollars. He doubled

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<v Speaker 5>his stake, which is also signaling confidence in Hill's strategy.

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<v Speaker 5>So he basically doubled down. And we know that Nike

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<v Speaker 5>has really struggled for some time. They reported weaker quarterly margins,

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<v Speaker 5>sluggish shales in China, and even Converse also sluggish.

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<v Speaker 3>I wear these companies, Nike and Apple have long been

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<v Speaker 3>very close, and I don't know if if Yeah, Tim

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<v Speaker 3>Cook is lead director at Nike, he's.

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<v Speaker 4>He's on the company so yeah, oh yeah, he's on

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<v Speaker 4>the board for years.

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<v Speaker 5>Still took it as it, yeah, as a vote of

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<v Speaker 5>confidence because that's his personal state. But yeah, nine slaughters buying.

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<v Speaker 5>We like to see that, right. Nike's on track for

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<v Speaker 5>its fourth year of the clients. Oh, it's its fourth

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<v Speaker 5>year of the clients, and the stock is now down

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<v Speaker 5>some sixty five percent off its all time heighths in

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<v Speaker 5>twenty twenty one.

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<v Speaker 1>All right, let's go to a story that I might

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<v Speaker 1>gotten fascinated by. But yeah, of course Trump media and technology.

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<v Speaker 1>You've been watching, we have been watching.

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<v Speaker 5>It's a val tile stock DJT, so they said it

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<v Speaker 5>plans to distribute a new digital token to shareholders in

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<v Speaker 5>partnership with Crypto dot com. The stock is up by

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<v Speaker 5>more than five percent. Tickers DJT one digital token. You

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<v Speaker 5>can expect if you could have one digital token, you'll

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<v Speaker 5>get one share of DJT. But this company has just

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<v Speaker 5>been interesting. Matt Winkler, the c EIC emeritus of Bloomberg.

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<v Speaker 5>He wrote an op ed on December nineteen. He said, Okay,

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<v Speaker 5>look at this company. It generated just three point seven

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<v Speaker 5>million in revenue over the past twelve months, posted an

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<v Speaker 5>operating loss of one hundred and eighty six million, and

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<v Speaker 5>it's the only company among its twenty domestic peers with

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<v Speaker 5>no widely disseminated twelve month target share price, no revenue estimate,

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<v Speaker 5>no earnings forecasts. So what do you make of that?

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<v Speaker 5>How do you look at a company like that?

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<v Speaker 1>Well, this is something that we've had a conversation of,

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<v Speaker 1>just like you know, companies' assets, trades that are tied

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<v Speaker 1>to the White House very clearly, and you do have

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<v Speaker 1>to be, some would say, very smart about looking at

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<v Speaker 1>these things.

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<v Speaker 5>Title White House or a very very well known name,

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<v Speaker 5>which leads us to think that maybe is personality driven

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<v Speaker 5>investing behind us. I'm not quite sure.

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<v Speaker 1>Oh, that's a good point. That's a good point. All right,

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<v Speaker 1>let's go to some decliners.

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<v Speaker 5>Decliners, So maybe you can talk about Corset ticker cort

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<v Speaker 5>So shares fail after regulators rejected the company's drug to

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<v Speaker 5>treat a form of high blood pressure. So biotech firms,

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<v Speaker 5>you know that they really swing widely after FDA approval

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<v Speaker 5>or rejection. So the stock is down fifty percent, and

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<v Speaker 5>this means that the company shed nearly three and a

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<v Speaker 5>half billion dollars in their market cap, so it's really

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<v Speaker 5>a huge loss. So they're studying the drug to treat

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<v Speaker 5>patients with hypertension who have too much of the hormone

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<v Speaker 5>cordy sool in their bodies.

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<v Speaker 4>Okay, Robinhood very briefly, robin.

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<v Speaker 5>Hood stock is down by two percent. Need them basically

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<v Speaker 5>cut their price target and robin Hood, but I just

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<v Speaker 5>want to bring up the robin Hood has had an

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<v Speaker 5>interesting year because this year they added sports wager and capabilities.

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<v Speaker 5>They're really tapping into that whole polymarket calshy world, and

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<v Speaker 5>customers will be able to customize combinations with as many

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<v Speaker 5>as ten outcomes. This is a new beat, honestly, and

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<v Speaker 5>I'm still learning about it. When I read about polymarket

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<v Speaker 5>and cal shee, I'm new to it. I look at

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<v Speaker 5>the website. There's a bet that will Jesus come in

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<v Speaker 5>twenty twenty five. There's a lot of serious but a

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<v Speaker 5>lot of what what is that beat? Well, Jesus come

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<v Speaker 5>so we'll know six hours.

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<v Speaker 4>I just want to know.

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<v Speaker 1>Is Elvis coming in twenty twenty six?

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<v Speaker 4>Maybe? Okay, get there.

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<v Speaker 3>I'm going to talk about facts before we get to

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<v Speaker 3>Elvis or you Robinhood up more than two hundred percent

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<v Speaker 3>this year, two hundred three percent this year.

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<v Speaker 5>It's a big deal. And they got added to the also, yes,

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<v Speaker 5>so they got a huge pop because of that. Although

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<v Speaker 5>not every stock that gets added gets a pop, but

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<v Speaker 5>they're one of those that did. So it's a really

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<v Speaker 5>big year for them after being just a memestock in

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<v Speaker 5>twenty twenty one.

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<v Speaker 1>Well, it was a good year. When we've got you

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<v Speaker 1>in the studio. Thank you so much, Happy New Year.

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<v Speaker 1>Really appreciate it. Bloomberg News process at reporter Isabell Lee.

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<v Speaker 2>She does so much here for us.

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<v Speaker 1>Happy Happy twenty six.

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