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 Jim Stenebeck along with Carol Master. We are joined
Speaker 3: by Bloomberg Television Markets corresponding Normal Linda for some stocks
Speaker 3: on the move.
Speaker 4: Hey, Noile, there's a lot that we could talk about today.
Speaker 4: I do want to kick things off with SpaceX, because,
Speaker 4: of course, this is the name that we've been talking
Speaker 4: so much about, following about sixteen percent for its third
Speaker 4: straight day of declines, this of course meaning that the
Speaker 4: stock shed hundreds of billion dollars in market value. Now
Speaker 4: this comes after SpaceX said that it's selling IG bonds
Speaker 4: for the very first time. Of course, this really sparking
Speaker 4: concerns about the idea of a massive borrowing spree that
Speaker 4: we've seen from a lot of these major tech companies,
Speaker 4: and whether or not we're actually going to be able
Speaker 4: to see some sort of return on this investment when
Speaker 4: we think about all the money being borrowed.
Speaker 1: Here, I have to say we had a voice our
Speaker 1: own Robert Schiffman talking about he follows the tech companies
Speaker 1: on as a you know, from the credit perspective, and
Speaker 1: you know, being very positive about this spend by certainly
Speaker 1: a company like SpaceX the money needed to do the
Speaker 1: build out. But it's also just, I don't know, he
Speaker 1: was just incredibly optimistic about it and these companies getting
Speaker 1: that investment grade rating from the ratings companies, you know,
Speaker 1: making it doable, and investors being interested.
Speaker 3: Just a reminder, was one thirty five for the IPO price.
Speaker 3: It's still up fourteen and a half percent at one
Speaker 3: fifty four sixty from that IPO. But yeah, like Nora said,
Speaker 3: three days in a row of declines from that high
Speaker 3: of yeah, two hundred one dollars eighty.
Speaker 1: You know what I'm thinking about August seventeenth when they
Speaker 1: report earnings.
Speaker 3: Right, what I thought it was pizza Monday.
Speaker 4: No, it's Monday.
Speaker 1: Not It's not pizza night tonight, just Monday night.
Speaker 2: Let's go to Lucid Group.
Speaker 4: But yeah, a name I haven't talked about in a while.
Speaker 4: Take your LCID. The stock is down falling more than
Speaker 4: three percent on the day, down three point seven percent
Speaker 4: to be more specific. The ev company slashing its US
Speaker 4: workforce by eighteen percent. Not only that, the company also
Speaker 4: eliminating its CO position, so chief offered operating officer position.
Speaker 4: That also being mixed. And the company's really been struggling
Speaker 4: so far this year, down about fifty one percent year
Speaker 4: to date. Just a lot of stuff going on here,
Speaker 4: and it seems that though investors are not really liking it.
Speaker 3: Eighteen percent shedding now, but it cut twelve percent back
Speaker 3: in February. It just adds to the concern. The company
Speaker 3: had about nine thousand workers as is December thirty first,
Speaker 3: suggesting the two rounds of layffs may have a limited
Speaker 3: about twenty five hundred employees.
Speaker 1: Like who's left? Uh yeah, I have to say people
Speaker 1: who've been buying cars are in my world it feels
Speaker 1: like they go for a hybrid rather than an EV.
Speaker 1: At this point, I hear what about do that step?
Speaker 4: Yeah, I hear that a ton. I do. Want to
Speaker 4: end with the stock pretty small name, but making a
Speaker 4: massive move on the day. That is the story s
Speaker 4: Getty images ticker g e t y, the stock scaring
Speaker 4: one hundred as much as one hundred and forty five
Speaker 4: percent intra day but ending higher by ninety percent on
Speaker 4: the day. That is the best day that we've seen
Speaker 4: since July twenty twenty two, and it's just really interesting,
Speaker 4: especially of course, is coming after the announcement of a
Speaker 4: deal with Open Ai and a name like that, You're
Speaker 4: going to see a stock like this.
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Speaker 2: companies making news on Wall Street and for the latest
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