WEBVTT - Amazon Drops, Stellantis Falls, Software Stocks ETF Bounces After 8 Day Slump

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Nora, you've got our stock movers. What are we looking at? Well,

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<v Speaker 2>let's look at Amazon. This is stigre AMZN. We've been

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<v Speaker 2>watching this stock very closely, one because it's a big name,

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<v Speaker 2>but two because the stock is plunging for its worst

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<v Speaker 2>day since August of twenty twenty four. This is after

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<v Speaker 2>the company announced plans to spend as much as two

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<v Speaker 2>hundred billion dollars this year on data centers, chips, and

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<v Speaker 2>other equipment. We've really been seeing a lot of these

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<v Speaker 2>tech companies being punished for this, but it seems like

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<v Speaker 2>it's a bit mix. It depends on the name that

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<v Speaker 2>you're talking about. I know that we did see Alphabet.

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<v Speaker 2>It is some pressure for this. Clearly Amazon also seeing

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<v Speaker 2>the same. We are seeing shares of the stock down

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<v Speaker 2>about eleven percent so far this year.

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<v Speaker 1>What else you got for us here for the stocks?

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<v Speaker 1>How about Stalantis?

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<v Speaker 2>Yes, oh my goodness, let's talk about some autos. Tick

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<v Speaker 2>her Stla brutal day. We're seeing shares down about twenty

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<v Speaker 2>two percent right now as we speak. Earlier plunging as

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<v Speaker 2>much as twenty six percent, this stock is hitting and

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<v Speaker 2>falling for its worst day ever, lowest level since twenty twenty.

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<v Speaker 2>This is after the company said that it's taking more

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<v Speaker 2>than twenty six billion dollars that's USD in charges mainly

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<v Speaker 2>linked to reverse in the course of its EV strategy.

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<v Speaker 2>I mean, we've really been seeing a lot of people

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<v Speaker 2>putting this bet on evs and we haven't really been

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<v Speaker 2>seeing it paying off for some of these companies. Delant

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<v Speaker 2>this has obviously been one of those that's been struggling with.

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<v Speaker 2>This stock is down thirty two percent just this year alone,

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<v Speaker 2>so really seeing us struggling. But I mean, when you

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<v Speaker 2>look at the numbers two, it is important to note

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<v Speaker 2>the stock is just around seven dollars, so you do

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<v Speaker 2>see these big moves when we think about a percentage basis,

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<v Speaker 2>but also important to note the value of the actual

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<v Speaker 2>stock as well. All Right, you're also including an ETF

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<v Speaker 2>in your stocks to watch, and this is one that

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<v Speaker 2>I've heard this sticker all week long, right, I mean

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<v Speaker 2>it's Friday, so I feel like we kind of have

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<v Speaker 2>to do a little bit of a recap on the week.

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<v Speaker 2>I've been looking out this ETF that you mentioned. IGV

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<v Speaker 2>is the taker there software stocks. I mean, it's been

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<v Speaker 2>so much in play this week. We are seeing a

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<v Speaker 2>rebound today for this taker earlier, rising as much as

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<v Speaker 2>three point two percent for its best day since September,

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<v Speaker 2>but it's still struggling. I mean, the ETF is on

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<v Speaker 2>pace to end the week for its worst week since

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<v Speaker 2>two thousand and eight, losing as much as twelve percent

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<v Speaker 2>in value. So I mean, we have our colleague Bill Maloney.

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<v Speaker 2>Of course, he is a chartered market technician and a

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<v Speaker 2>strategist here who writes for Bloomberg, and he was just

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<v Speaker 2>talking about the fact that it seems to have notched

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<v Speaker 2>a short term bottom after falling just five percent that

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<v Speaker 2>was yesterday. But it's interesting because we do see that

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<v Speaker 2>it did have two straight days of record volume, with

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<v Speaker 2>over forty million shares changing hands in each session.

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