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 3: I'm Carl Masser along with Tim Stanwick. Let's get to
Speaker 3: some stocks on the move with us is Bailey Lipshealtz
Speaker 3: of Business News Bloomberg News. I should say covers IPOs,
Speaker 3: covers the markets, covers a lot. Do you have an
Speaker 3: official title?
Speaker 4: I do have an I have multiple effic Markets Reporter,
Speaker 4: Senior Equities Reporter, Deputy ecms are of the America's It's
Speaker 4: like I'm an investment banker. I love that.
Speaker 3: How then are somebody in academia? They always have lots
Speaker 3: of titles. Anyway, we're so happy to have you here.
Speaker 4: Where do you want to start? Can we start with
Speaker 4: Figma because in post market so totally tiggr fig Uh
Speaker 4: basically the creative software platform that went public last year.
Speaker 4: If you guys remember this was a company that on
Speaker 4: day one jumped I don't know, two hundred and fifty
Speaker 4: percent member and it's still about forty percent below at
Speaker 4: IPO price right now, but gaining, so it's up about
Speaker 4: ten percent. This came after beating expectations giving a strong
Speaker 4: forward forecast, we're seeing revenue between one point four to
Speaker 4: two billion and one point four to three billion. Estimates
Speaker 4: were for one point three seven billion. So this is
Speaker 4: a company that really was damaged pretty sharply in concerns
Speaker 4: around AI.
Speaker 1: Ten point six billion dollars is the market cap. I'd
Speaker 1: take you back to what just twenty twenty three was
Speaker 1: that when Adobe was planning to buy Figma for twenty
Speaker 1: billion dollars before the iPod everybody said, well, the regulatory pressure,
Speaker 1: it didn't work out Rasource. When the company went public,
Speaker 1: everyone was like, wow, it's so good. He didn't sell
Speaker 1: to Don'tfield didn't sell to Adobe because he won have
Speaker 1: only gotten twenty billion dollars. Market cap was way higher
Speaker 1: after that. Now it's down to what ten and a
Speaker 1: half billion?
Speaker 4: Yeah, day one was it fifty six billions? Okay, you
Speaker 4: look rebby smart for the day bypassing on a sale
Speaker 4: and then throw the baby out with the bathwater. But
Speaker 4: also just uncertainly again, AI is going to change the
Speaker 4: way we do everything. Then who cares if you can
Speaker 4: vibe code? I know you're a big vibe.
Speaker 1: I tried, I tried filed. The vibes were not good vibes.
Speaker 1: Bad vibes all right.
Speaker 3: Some big numbers though from them in terms of what
Speaker 3: they're expecting, so you can see the surprise. I will
Speaker 3: say twenty two percent of the float is short. So yeah,
Speaker 3: you wonder how much short covering. Let's go to the
Speaker 3: big IPO today, Your world.
Speaker 4: My world, Sarah bros. The AI chipmaker ticker CBRS raise
Speaker 4: five five point five five million dollars, biggest ever semiiconductor.
Speaker 4: IPO stock opened up eighty nine percent, closed up sixty
Speaker 4: eight percent at one point, and doubled. This is a
Speaker 4: company that bills itself as an Nvidia competitor, and it's
Speaker 4: been interesting to track because they try to go public
Speaker 4: a few years ago and a fraction of that, raise
Speaker 4: money privately, ad a fraction of that, and now based
Speaker 4: on their outstanding share sixty seven billion dollar market cap.
Speaker 3: Yeah, that's a pretty big company out of the gate. Well, see,
Speaker 3: I'm so curious to see what happens in tomorrow's trade
Speaker 3: and then into next week. Let's go to a company,
Speaker 3: big tech company, well known name, been around for a
Speaker 3: long time since go had to kind of do some
Speaker 3: a little bit of I don't want to see transformation,
Speaker 3: but really think about kind of AI right, and that
Speaker 3: seems to be very evident in the latest joarnings.
Speaker 4: It's a company that went public back in nineteen nineties,
Speaker 4: a new company, but rallying thirteen percent, closing in an
Speaker 4: all time high if you bought it at ipo price
Speaker 4: and held you up about one hundred and eighty five
Speaker 4: thousand percent. But really, as you mentioned, rallying based on
Speaker 4: their forecast, rebuilding themselves leaning into the AI infrastructure. So
Speaker 4: we've been seeing pretty much any company under the sun
Speaker 4: trying to sell that story. And it does seem like
Speaker 4: Cisco as at least to some extent, hitting the nail
Speaker 4: on the head, is leaning into being a network equipment
Speaker 4: company that is built for the future of AI as
Speaker 4: opposed to the company that built the Internet.
Speaker 3: Some of it that many titles we should have given
Speaker 3: in more time.
Speaker 4: What's wrong with us?
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Speaker 4: Mm hmm