WEBVTT - Tesla Falls, Sweetgreen Downgrade, Nike Rises

0:00:02.520 --> 0:00:07.360
<v Speaker 1>Bloomberg Audio Studios podcasts, radio News.

0:00:08.640 --> 0:00:13.040
<v Speaker 2>The Stock Movers podcast, your roundup of companies making moves

0:00:13.080 --> 0:00:16.480
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:18.120 --> 0:00:20.320
<v Speaker 1>I'm Carol Master along with Matt Miller. Let's get to

0:00:20.400 --> 0:00:22.440
<v Speaker 1>some of the stocks on the move on this Tuesday

0:00:22.440 --> 0:00:25.000
<v Speaker 1>with us as Bloomberg News process at reporter Deniza Sokova.

0:00:25.800 --> 0:00:26.280
<v Speaker 3>Tesla.

0:00:26.800 --> 0:00:29.760
<v Speaker 1>This is a company we're all talking about a lot today.

0:00:30.400 --> 0:00:33.839
<v Speaker 4>Yeah, and on the topic of strong conviction bait, this

0:00:34.040 --> 0:00:36.800
<v Speaker 4>obviously has been one company that has been moving, has

0:00:36.800 --> 0:00:40.120
<v Speaker 4>a massive momentum on the upside, and today on the downside,

0:00:40.479 --> 0:00:44.680
<v Speaker 4>stock is down six percent today. It's coming off prison.

0:00:44.840 --> 0:00:47.519
<v Speaker 4>Trump flushing out the tea with Musk, and there has

0:00:47.560 --> 0:00:50.920
<v Speaker 4>been a whole exchange on X. They've been talking about

0:00:50.960 --> 0:00:55.040
<v Speaker 4>government subsidies for electric vehicles. Obviously Ewan Musk has been

0:00:55.200 --> 0:00:58.520
<v Speaker 4>very critical of the bill that's moving through Senate currently,

0:00:59.520 --> 0:01:02.840
<v Speaker 4>and that's where their spat initially started about a month ago,

0:01:02.960 --> 0:01:06.720
<v Speaker 4>and we saw this whole even most complex falling at

0:01:06.720 --> 0:01:10.240
<v Speaker 4>the same time. Starting from Tesla, we have obviously Destney

0:01:10.280 --> 0:01:14.160
<v Speaker 4>one hundred, we chess biggest posure to SpaceX it felt

0:01:14.280 --> 0:01:17.119
<v Speaker 4>then and it's down now. We even have dosh coin

0:01:17.840 --> 0:01:20.920
<v Speaker 4>suffering from this, so he is more than just Test,

0:01:20.959 --> 0:01:23.640
<v Speaker 4>so there is a whole complex that is suffering out

0:01:23.680 --> 0:01:26.440
<v Speaker 4>of that. This way is down twenty five percent year

0:01:26.520 --> 0:01:30.520
<v Speaker 4>to eight and obviously this is not about the company's fundamentals,

0:01:30.600 --> 0:01:32.840
<v Speaker 4>but we're seeing a lot of pressure there this way.

0:01:32.840 --> 0:01:35.759
<v Speaker 4>It's set to release its second quarter deliveries this week.

0:01:36.040 --> 0:01:40.199
<v Speaker 4>Evie deliveries are estimated to fall about twenty percent year today,

0:01:40.720 --> 0:01:43.840
<v Speaker 4>ear and ear and test what first quarter deliveries we're

0:01:43.880 --> 0:01:46.440
<v Speaker 4>at almost three years low. We know that Ewan Mousk

0:01:46.560 --> 0:01:48.760
<v Speaker 4>is taking care of European sales now, which is one

0:01:48.760 --> 0:01:51.600
<v Speaker 4>of their weakest markets for ev So we yet to

0:01:51.640 --> 0:01:52.520
<v Speaker 4>see if that will help.

0:01:52.520 --> 0:01:56.040
<v Speaker 3>I mean, does anyone care about their car sales? And

0:01:56.080 --> 0:01:58.320
<v Speaker 3>it's a do you know of any other car maker?

0:01:58.400 --> 0:02:00.880
<v Speaker 3>Or let me rephrase that, if you add up every

0:02:01.000 --> 0:02:05.040
<v Speaker 3>single other car maker in the entire world, yes, their

0:02:05.080 --> 0:02:08.799
<v Speaker 3>market caps combined do not come to you know, two

0:02:08.919 --> 0:02:13.800
<v Speaker 3>thirds fundamental point fundamentals certainly in this in this aspect,

0:02:13.960 --> 0:02:15.560
<v Speaker 3>car sales don't matter all right.

0:02:15.639 --> 0:02:18.760
<v Speaker 1>Roessla of course, ticker ts LA stock is down five

0:02:18.840 --> 0:02:22.359
<v Speaker 1>percent in today's session, but as Denisa mentioned, earlier stock

0:02:22.520 --> 0:02:25.080
<v Speaker 1>is not doing so well this year unless you're a

0:02:25.080 --> 0:02:26.919
<v Speaker 1>bear on it. Let's talk about twenty five percent.

0:02:27.120 --> 0:02:30.120
<v Speaker 3>Sweet Grain is one of my favorite tickers because I'm

0:02:30.120 --> 0:02:34.120
<v Speaker 3>a huge fan of Black Sabbath and Tony Iomi played

0:02:34.120 --> 0:02:35.040
<v Speaker 3>a Gibson SG.

0:02:35.440 --> 0:02:36.799
<v Speaker 4>Okay, so every time I.

0:02:36.760 --> 0:02:40.080
<v Speaker 3>Look at this ticker, I think of La Sabbath. But

0:02:40.680 --> 0:02:43.840
<v Speaker 3>they did so much better than Sweet Grain stock. I

0:02:43.840 --> 0:02:46.400
<v Speaker 3>look at it over five years, it's down forty seven percent.

0:02:46.919 --> 0:02:49.240
<v Speaker 4>Yeah, I'm actually thinking of association and rally. I don't

0:02:49.280 --> 0:02:51.560
<v Speaker 4>know SG. It's always in my head anyway. Sweet Green

0:02:51.639 --> 0:02:54.600
<v Speaker 4>it is now about two percent. It's coming off of

0:02:55.160 --> 0:02:59.240
<v Speaker 4>TD Collin downgrade. It's currently hold. Previously by saying the

0:02:59.320 --> 0:03:02.920
<v Speaker 4>solid Driss chain's key urban food print appears to be

0:03:03.040 --> 0:03:06.399
<v Speaker 4>under extreme pressure. Obviously, this is a brand that appears

0:03:06.440 --> 0:03:08.040
<v Speaker 4>to be Yeah, here's.

0:03:07.880 --> 0:03:09.320
<v Speaker 1>The next team for catching up.

0:03:09.680 --> 0:03:12.480
<v Speaker 4>Well, yeah, it looks like, you know, those three story

0:03:13.200 --> 0:03:17.359
<v Speaker 4>salads are under pressure. Obviously, we've seen so many companies

0:03:17.360 --> 0:03:19.760
<v Speaker 4>saying that more people are eating at home, cooking at home,

0:03:19.880 --> 0:03:24.120
<v Speaker 4>and you can imagine twenty dollars salad is not the

0:03:24.160 --> 0:03:27.000
<v Speaker 4>most popular item with the weakening consumer. Of course, the

0:03:27.000 --> 0:03:31.000
<v Speaker 4>ticker is SG td Con calculates four year or older

0:03:31.040 --> 0:03:35.280
<v Speaker 4>stores are showing same store sales down by double digit percentage.

0:03:35.840 --> 0:03:39.160
<v Speaker 4>Obviously they're growing in suburban markets, but do Con is

0:03:39.200 --> 0:03:41.240
<v Speaker 4>saying that may not be enough. And it's just down

0:03:41.520 --> 0:03:44.520
<v Speaker 4>fifty four percent ear today. So last year it was

0:03:44.560 --> 0:03:47.720
<v Speaker 4>a massive rally. There was a lot of retail excitement there.

0:03:47.760 --> 0:03:50.640
<v Speaker 4>But obviously today things look very different.

0:03:50.680 --> 0:03:52.760
<v Speaker 1>All right, just get about thirty forty seconds. Let's do

0:03:52.880 --> 0:03:55.920
<v Speaker 1>Nike take our NK this stock owned in the other direction.

0:03:56.000 --> 0:03:57.120
<v Speaker 1>It's actually rallying today.

0:03:57.320 --> 0:04:02.160
<v Speaker 4>Yeah, it's up three percent. August Research upgraded it, saying

0:04:02.200 --> 0:04:04.960
<v Speaker 4>that the recovery is underway. We've seen a lot of optimism.

0:04:04.960 --> 0:04:09.040
<v Speaker 4>We obviously had the earnings last week, like sid that

0:04:09.280 --> 0:04:12.560
<v Speaker 4>your long sales decline is starting to ease and forecasted

0:04:12.680 --> 0:04:16.080
<v Speaker 4>is more than expected dropping revenue. That comes after a

0:04:16.160 --> 0:04:19.440
<v Speaker 4>strategic moves from the CEO. We know the push to

0:04:19.520 --> 0:04:23.239
<v Speaker 4>reach more women. We know Nikes going back to Amazon

0:04:23.360 --> 0:04:25.440
<v Speaker 4>has its own store. So there is a lot of

0:04:25.440 --> 0:04:28.599
<v Speaker 4>optimism just in the last few days that have almost

0:04:28.720 --> 0:04:31.600
<v Speaker 4>erased the year today losses. That says the company is still.

0:04:31.839 --> 0:04:34.200
<v Speaker 3>Do you wear? Do you do you have jaggings?

0:04:35.440 --> 0:04:38.960
<v Speaker 2>Do scores.

0:04:41.000 --> 0:04:41.840
<v Speaker 4>It's a great start.

0:04:41.920 --> 0:04:44.880
<v Speaker 3>Yeah, I'm asking because I have a lot of shackets

0:04:45.360 --> 0:04:50.559
<v Speaker 3>in my closet. Apparently snows are they're so hot trends.

0:04:50.600 --> 0:04:52.640
<v Speaker 4>We were talking about that, but I cannot run with them.

0:04:52.680 --> 0:04:55.800
<v Speaker 1>It's just not Comfortabley Jaggings Gene Leggings.

0:04:56.400 --> 0:05:00.520
<v Speaker 2>The Stock Movers podcast from Bloomberg Radio. Get back with

0:05:00.640 --> 0:05:03.360
<v Speaker 2>us throughout the day for the latest roundup of companies

0:05:03.400 --> 0:05:06.480
<v Speaker 2>making news on Wall Street and for the latest market

0:05:06.480 --> 0:05:10.880
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:05:10.920 --> 0:05:14.159
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:05:14.240 --> 0:05:15.679
<v Speaker 2>the Bloomberg Business app.