WEBVTT - Tesla Ends Higher, Neptune Insurance & Fermi Skyrocket

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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 stocks on the move on this Wednesday.

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<v Speaker 1>We're joined by Bloomberg News Equities reporter A Natalia Kenny Javich.

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<v Speaker 1>She joins us here in studios, So let's get to it.

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<v Speaker 1>Tesla's on your.

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<v Speaker 3>List, Tesla's on my list. It was one of the

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<v Speaker 3>biggest outperformers today the takers, of course, Tsla the stock

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<v Speaker 3>is up by three point three percent ahead of expected

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<v Speaker 3>quarterly delivery numbers. Tesla is expect supposed to publish them tomorrow.

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<v Speaker 3>Bloomberg compiled analysis from different analysts and it looks like

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<v Speaker 3>Tesla delivered around four hundred and forty thousand vehicles globally.

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<v Speaker 3>That would be a five percent drop of from a

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<v Speaker 3>year ago. That would also be a third conc ecuative

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<v Speaker 3>quarter of declines. However, that would still be better than

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<v Speaker 3>a decline of thirteen percent that we saw in sales

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<v Speaker 3>during the first six months of this year. Of course,

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<v Speaker 3>many headwinds include the end of this consumer ev text credit,

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<v Speaker 3>some backlash around Elanmusk's politics, and globally, we see that

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<v Speaker 3>sales in China and Europe are moving down. However, guys,

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<v Speaker 3>we should keep in mind that September might not be

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<v Speaker 3>the best month to represent because we saw a big

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<v Speaker 3>jump in TV sales as some customers wanted to buy

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<v Speaker 3>electric vehicles ahead of this expiration of EV text credits.

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<v Speaker 3>So anyway, we'll see how this plays out.

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<v Speaker 4>Okay, Tesla on your list. Also on your list this afternoon,

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<v Speaker 4>Neptune Insurance Holding, I saw this one moving today. We

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<v Speaker 4>have some really cool reporting around what's happening here. Yes,

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<v Speaker 4>so this is our household name. Yes, this is the

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<v Speaker 4>IPO story.

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<v Speaker 3>This is an insurance company, this is supposed to be

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<v Speaker 3>and it is the six insurance company that went public

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<v Speaker 3>this year. So we see a pretty big movement in

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<v Speaker 3>this area. So shares jumped twenty four percent today. The

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<v Speaker 3>IPO price was twenty dollars per share clothes at twenty

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<v Speaker 3>four eighty the company raised almost three hundred and seventy

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<v Speaker 3>million dollars. It gives it valuation of three point four

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<v Speaker 3>billion dollars. So of course everyone uses AI right now.

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<v Speaker 3>So for Neptune, the stories that has AI driven underwriting

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<v Speaker 3>agent that scuants all possible quotes and give the best

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<v Speaker 3>price in four customers. So we'll see how again. But

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<v Speaker 3>insurance companies did pretty well after IPOs this year.

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<v Speaker 1>I don't understand this. I have flat insurance, I have

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<v Speaker 1>to have it. I have to have federal float insurance.

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<v Speaker 1>I am curious about this one.

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<v Speaker 4>I will say all point out I can buy.

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<v Speaker 1>From these guys.

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<v Speaker 3>They are not on the writers themselves, but they provide

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<v Speaker 3>quotes and.

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<v Speaker 1>Huh yeah, this so as a platform to connect you.

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<v Speaker 3>Yeah so, but europ absolutely right. I didn't mention this

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<v Speaker 3>is specifically for this niche. This is a flood insurance company.

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<v Speaker 3>This is why they have this name.

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<v Speaker 4>I will point our just listeners and viewers to the

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<v Speaker 4>story that came out today Dylan Sloan writing about insurance

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<v Speaker 4>executives who've become billionaires in the risky Florida market. It

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<v Speaker 4>talks about a trio of insurance executives from two different

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<v Speaker 4>companies who've minted billion dollar fortunes by betting big on

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<v Speaker 4>a risk that few others are willing to touch, which

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<v Speaker 4>is Florida's volatile property and casualty market. Check it out.

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<v Speaker 1>Did they pay off when things go a straight Hey, yeah, okay, tbd, TBD.

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<v Speaker 1>Let's get your third name.

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<v Speaker 3>The third name is Fermi. This is another IPO story,

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<v Speaker 3>the tickets Frmi. The stock is up by fifty four

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<v Speaker 3>percent today. Again it's a very strong trading debut. The

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<v Speaker 3>IPO price was twenty eight dollars per share close at

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<v Speaker 3>thirty two point five. This is the Real invest Real

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<v Speaker 3>Estate Investment Trust founded by the former US Secretary of

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<v Speaker 3>n Rick Perry. So this is your AI infrastructure, real

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<v Speaker 3>estate and power story. So we know that this company

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<v Speaker 3>has data center campus and it hopes to of course

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<v Speaker 3>get more hyperscalers and data center that could use their facilities.

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<v Speaker 3>Expect to have one giggle out of power online by

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<v Speaker 3>the end of next year, and then about eleven gig

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<v Speaker 3>outs of power by twenty twenty three.

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<v Speaker 2>The Stock Movers Report from Bloomberg Radio. Check back with

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