WEBVTT - Closing Bell: Workday Climbs, Krispy Kreme Rallies, Cracker Barrel Sinks

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on this stock movers report

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<v Speaker 2>the company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenovak, Romain Bostik, and Scarlett Foo,

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<v Speaker 2>the Dow.

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<v Speaker 1>Jones Industrial Average is going to finish the day in

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<v Speaker 1>the green, up about two hundred and sixty points, or

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<v Speaker 1>six tents of one percent. The S and P down

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<v Speaker 1>about a tenth of a percent, closing right around that

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<v Speaker 1>sixty six hundred level. The NASDAK Composite and NASDAQ one

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<v Speaker 1>hundred each lower by about two to three tenths of

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<v Speaker 1>one percent, and the Russell two thousand is maintaining some

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<v Speaker 1>of its gains on the day, hire by four points

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<v Speaker 1>or two tenths of one percent. But we should point

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<v Speaker 1>out at one point, Carol, it was up a full

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<v Speaker 1>two percentage points.

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<v Speaker 3>Got to say, we were thinking about you. We know

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<v Speaker 3>you like to talk about that index and just kind

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<v Speaker 3>of watching the move, but you know, certainly a little

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<v Speaker 3>bit different by the end of the day. Hey, S

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<v Speaker 3>and P five hundred, guys, I know you're going to

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<v Speaker 3>get into the industry groups there remain, but you did

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<v Speaker 3>have about two hundred and eighty eight names actually gaining

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<v Speaker 3>on this FED Wednesday, two hundred and thirteen to the

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<v Speaker 3>downside two unchanged.

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<v Speaker 1>Yeah, and it's kind of interesting though, I mean, you

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<v Speaker 1>talk about, how do you get two hundred and eighty

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<v Speaker 1>eight names, the majority of the names in the smb rallying,

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<v Speaker 1>yet it finishes in the red. Well, A big part

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<v Speaker 1>of the reason is well, tech was pretty much at

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<v Speaker 1>the bottom of that list as a sector. It was

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<v Speaker 1>the worst performing of the eleven sectors out there. Your

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<v Speaker 1>leaders are on the day where a lot of the

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<v Speaker 1>economic or ressus ME interest rates sensitive sectors, including financials,

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<v Speaker 1>they were your gainers here on the day. Utilities also

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<v Speaker 1>getting a pretty strong bid as well.

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<v Speaker 3>Yeah, that's a lot of red there right when you

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<v Speaker 3>really kind of break it down in that way. Hey, listen,

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<v Speaker 3>let's get to some of the individual gainers workday. This

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<v Speaker 3>was a standout in both the S and P five

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<v Speaker 3>hundred the Nasdaq one hundred at one point, let me

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<v Speaker 3>just see, up about ten percent, almost ten percent at

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<v Speaker 3>its highs of this session, finishing though still with about

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<v Speaker 3>a gain of about seven and a quarter percent. Companies

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<v Speaker 3>Board authorized a buyback of up to an additional four

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<v Speaker 3>billion dollars worth of shares. And also you had Ellied

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<v Speaker 3>Investment Management unveiling a two billion dollar plus investment in

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<v Speaker 3>the company, the activist investor saying the company's CEO and

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<v Speaker 3>his team have made substantial progress in recent years driving

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<v Speaker 3>growth and customer retention. They put out a statement yesterday.

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<v Speaker 3>So investors moving into that one investor.

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<v Speaker 1>And did you take a look at like just kind

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<v Speaker 1>of the long term chart on this, I mean just

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<v Speaker 1>really one of the biggest laggards in this space that

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<v Speaker 1>we've seen.

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<v Speaker 2>No.

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<v Speaker 3>I know, you're right, a long term perspective always important

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<v Speaker 3>on this one. But to see some investor momentum at

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<v Speaker 3>this point. But that's what an activist investor will do.

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<v Speaker 3>We'll get investors to take a second look. Hey by

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<v Speaker 3>do also anperformer finishing pretty much at its best levels

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<v Speaker 3>of the session. I'm looking at the ADRs tack or

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<v Speaker 3>BIDU finishing up more than eleven percent in today's session.

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<v Speaker 3>It is China's largest search engine operator. Overnight, I should

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<v Speaker 3>point out shares jumped in Asia the most in over

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<v Speaker 3>two years, in analysts upgrading the company, citing the growth

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<v Speaker 3>potential for its in house chip business. So you had

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<v Speaker 3>a bunch of analysts coming out. Our Research Services lifted

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<v Speaker 3>its radio and by American ad rs to buy from

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<v Speaker 3>sell it. It held the only Cell recommendation on the

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<v Speaker 3>stock since that downgraded it last May. So this one

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<v Speaker 3>a bunch of other analysts coming out and weighing in.

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<v Speaker 3>Everybody's looking at me. I'm a little nervous, you know.

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<v Speaker 4>No, you're good. Okay, I just feel bad about Krispy Kreme.

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<v Speaker 3>Okay, we're going to get to Krispy Kreme. Let's go there.

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<v Speaker 3>This is this is Tim moving me along. Stock was

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<v Speaker 3>up about eleven and a half.

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<v Speaker 4>That'sion. That's why I feel bad.

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<v Speaker 3>Still leaking out a gain, but not even a one

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<v Speaker 3>full percentage point. Sorry, Carol.

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<v Speaker 4>I convinced her to do it. Romain, I said, you

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<v Speaker 4>got to.

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<v Speaker 1>Do that's a big story.

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<v Speaker 3>I know it was a bigger.

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<v Speaker 1>So what's the deal now? The FBI director what is he?

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<v Speaker 1>Is he like taking over Krispy Kreme? What's happening?

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<v Speaker 3>No? No, he's got a day job already, and he's

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<v Speaker 3>also been pretty busy, you know. Answering questions from members

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<v Speaker 3>of Congress, the FBI director Cash Ptel, questioned by one

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<v Speaker 3>representative before the House Judiciary Committee about stock purchases from

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<v Speaker 3>a disclosure for me he signed in July. He was

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<v Speaker 3>asked about the transactions, including one in a national coffee

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<v Speaker 3>house chain that would be this one, and also one

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<v Speaker 3>in a semi conductor company on semi conductor was on

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<v Speaker 3>the move too, But yeah, I thought we'd ste this one.

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<v Speaker 1>And just the too quick, honorable mention. I just want

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<v Speaker 1>to point out PayPal jump popping about three percent on

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<v Speaker 1>that partnership with Google, and of course Lyft now at

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<v Speaker 1>its highest level since twenty twenty two. Carol on News

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<v Speaker 1>here of that partnership with Weimo.

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<v Speaker 4>I'm glad he did Lift because now I can talk

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<v Speaker 4>about Uber. It was the second biggest decliner in the

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<v Speaker 4>S and P five hundreds.

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<v Speaker 1>Wouldn't even plan this out.

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<v Speaker 4>We didn't. We didn't down five percent.

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<v Speaker 3>Of TV to this earlier. I'm sure you planned a.

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<v Speaker 4>Lot of As remain mentioned, Lift is partnering with weymoud

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<v Speaker 4>offer robotaxi service in Nashville starting next year. May sound

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<v Speaker 4>kind of familiar because Uber has a lot of these

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<v Speaker 4>deals already. This one is the first one between Weimo

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<v Speaker 4>and Lyft. Weimo is already an established partner with Uber.

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<v Speaker 4>These two companies have struck multi year deals back in

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<v Speaker 4>twenty twenty three. Uber now offers Weymo trips in Phoenix, Austin,

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<v Speaker 4>and Atlanta. So Uber declining on the news that Lift

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<v Speaker 4>is now playing with Waimo as well. Also not all

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<v Speaker 4>IPOs in the last few weeks doing stellar. Look at

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<v Speaker 4>stub Hub today actually fell six point four percent in

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<v Speaker 4>its debut, falling below the IPO after the ticketing platform

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<v Speaker 4>raised eight hundred million dollars in its IPO. The company

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<v Speaker 4>sold thirty four million shares at twenty three to fifty

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<v Speaker 4>and its market value is about eight and a half

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<v Speaker 4>billion dollar. That's based on the outstanding shares listed in

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<v Speaker 4>its earlier findings. And finally, General Mills found today by

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<v Speaker 4>eight tenths of one percent, even though the company reported

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<v Speaker 4>just earnings per share for the fiscal first quarter the

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<v Speaker 4>top testimates.

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<v Speaker 1>I just want to point out you mentioned StubHub falling

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<v Speaker 1>below its IPO price, which point out Gemini Space, which

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<v Speaker 1>went public last week at twenty eight bucks a year

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<v Speaker 1>open at thirty seven, closing below that twenty eight dollars

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<v Speaker 1>price at twenty four and change. Here on this Wednesday afternoon,

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<v Speaker 1>we are expecting some earnings I believe out of Cracker Barrel.

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<v Speaker 1>They are crossing the wire right now, Let's take a look,

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<v Speaker 1>of course, a company that has been in the spotlight

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<v Speaker 1>mainly for political and cultural war reasons. Well, this is

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<v Speaker 1>bottom line story, and the bottom line is a miss

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<v Speaker 1>seventy four cents a share in the most recent quarter

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<v Speaker 1>of the street was looking for seventy six incent since

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<v Speaker 1>a share. The revenue did come in above estimates at

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<v Speaker 1>about eight hundred and sixty eight million dollars. Here's the

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<v Speaker 1>company's guidance going forward for twenty twenty six, which is

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<v Speaker 1>basically the fiscal year that they are in right now.

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<v Speaker 1>They say that revenue will be in a range of

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<v Speaker 1>three point three to five to three point four to

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<v Speaker 1>five billion, the high end of that range below the

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<v Speaker 1>average of analyst estimates a three point five to two billion.

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<v Speaker 4>All right, I'm looking through the press release, and yes

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<v Speaker 4>there is commentary on the logo controversy. It's the first

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<v Speaker 4>thing and pretty much the only thing that's mentioned at

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<v Speaker 4>the top. Julie Messino, the company's president CEO, said, quote,

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<v Speaker 4>we thank our guests for sharing their voices and their

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<v Speaker 4>passion for Cracker Barrel. In recent weeks, and we've listened

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<v Speaker 4>switching back to our old timer logo, hitting pause on remodels,

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<v Speaker 4>and placing even bigger emphasis in the kitchen and other

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<v Speaker 4>areas that enhance the guest experience. Many elements of our

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<v Speaker 4>plan are working well in delivering results.

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<v Speaker 3>Well, I got to say, this is a style nightmare

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<v Speaker 3>is over that is heavily shorted. About twenty five percent

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<v Speaker 3>of the float is shorted. So on any you know,

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<v Speaker 3>you'll see some activity maybe coming off of these earnings,

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<v Speaker 3>that's for sure.

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