Speaker 1: Bloomberg Audio Studios Podcasts, Radio News.
Speaker 2: The Stock Movers podcast, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Well, I'm Tim Stanebeck along with Carol Masser. Let's take
Speaker 1: a look at some stocks on the move today. We
Speaker 1: are joined now by Bloomberg News cross Asset reporter Emily GRIFFEO, Emily,
Speaker 1: you got a lot to chew. You had a lot
Speaker 1: to choose from in today's session. What caught your eye?
Speaker 3: I did, and I picked like the most talked about
Speaker 3: stock on Wall Street, But it moved up a lot today.
Speaker 3: I'm talking about shares of Nvidia, the chip company. It
Speaker 3: was up as much as six point seven percent after
Speaker 3: CEO Jensen Wong announced the company will send semiconductors to
Speaker 3: Saudio Arabian AI company Humane for a data center build out.
Speaker 3: So data centers. That's a really big area for any
Speaker 3: companies focused on AI because you need data centers to
Speaker 3: power AI processes. And this is all part of a
Speaker 3: Trump administration initiative that lifts previous restrictions on shipping advanced
Speaker 3: AI capabilities to the region.
Speaker 4: Just gonna say, right, Jensen, there he announcing it right
Speaker 4: at the Saudi US Investment Forum in riod so down
Speaker 4: on the ground with the president and some other you know,
Speaker 4: top business leaders. But this is that was a pretty
Speaker 4: big announcement.
Speaker 3: Yeah, it was. And the Trump administration is, at least
Speaker 3: according to Bloomberg's reporting, they plan to overhaul regulations on
Speaker 3: the export of semiconductors used in AI. This is a
Speaker 3: big win for companies like in video, because they're tossing
Speaker 3: out a Biden error approach that had a lot of
Speaker 3: objections from US allies and companies, including in video.
Speaker 4: All right, can we talk about.
Speaker 1: You own coinbase, you owned.
Speaker 4: Crypto, you own crypto, you own you know.
Speaker 1: I will say, well, Emily, you go ahead and you
Speaker 1: know all annoy Carrol Mas.
Speaker 4: This is definitely one of the mega winners in today's session.
Speaker 4: It is mega gainers.
Speaker 3: I guess Coinbase.
Speaker 4: If you were shorting it, you didn't feel like you're
Speaker 4: a winner.
Speaker 3: No, But if you were long it, or if you're
Speaker 3: trying to get in on the trade before it's actually
Speaker 3: added into the S and P five hundred, you made
Speaker 3: some money today. The stock was up finished the day
Speaker 3: up twenty four percent. It was announced after the close
Speaker 3: yesterday that this company's being added to the S and
Speaker 3: P five hundred index, the world's arguably most famous index.
Speaker 3: This is the first crypto company to be added to
Speaker 3: the SMP so it's a big milestone all of the
Speaker 3: Coinbase execs. Brian Armstrong, he kind of tweeted like a
Speaker 3: victory lap, so go look at his tweets on Twitter
Speaker 3: or x. But yeah, this is a lot of what
Speaker 3: we're seeing now is what traders call the index effect.
Speaker 3: So they anticipate that passive funds that have to track
Speaker 3: the S and P five hundred closely will actually have
Speaker 3: to buy the stock on the date gets added to
Speaker 3: the index. That's not for another week, so a lot
Speaker 3: of hedge funds arbitragers will try and buy the stock
Speaker 3: before that, anticipating that there'll be a lot of buying
Speaker 3: in a week.
Speaker 4: I mean, prior to this, the stock was down a lot.
Speaker 3: Yeah. Yeah, it's been like it's been kind of a
Speaker 3: wild ride for crypto this year because like these companies
Speaker 3: were supposed to do really well after Trump won the election.
Speaker 3: They obviously now are with this stock up a lot
Speaker 3: and being added to the S and P five hundred,
Speaker 3: But it was not a straight line up.
Speaker 1: It hasn't been like an I'm just looking at the
Speaker 1: forever chart. Yeah, going back to twenty twenty one, a
Speaker 1: hard chart maybe even goes back to all the way
Speaker 1: to yeah, even yeah, the early twenty twenty one. Yeah,
Speaker 1: it's still twenty eight percent off of the all time
Speaker 1: highs that it reached back in November of twenty twenty one.
Speaker 3: Yeah, it depends how you look at it, because over
Speaker 3: the last two years it's up something like two hundred
Speaker 3: and seventy percent depending on when you got in. It's
Speaker 3: just one of the.
Speaker 4: Plice at different points, right and get a different picture.
Speaker 4: Let's talk about super micro because that also serves in
Speaker 4: today's session.
Speaker 3: Yes, so that stock was up at least over eight
Speaker 3: percent at one point on the day. I'm just getting
Speaker 3: that to load. Yeah, I'd actually finished the day up
Speaker 3: sixteen percent. They had an outperform rating at Raymond James,
Speaker 3: so they initiated coverage at Raymond Jane. The broker said
Speaker 3: super microcomputer has emerged as a market leader in AI
Speaker 3: optimized infrastructure. I mean, that's kind of all you really
Speaker 3: need to hear. All in, they set a price target
Speaker 3: of forty one dollars, which now with today's rise, it's
Speaker 3: pretty close to that. So maybe Raymond James is going
Speaker 3: to have to come back and up that price target
Speaker 3: because now the stock is at like almost thirty nine dollars.
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