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 1: I'm Carol Masser along with David Gore. Let's take a
Speaker 1: look at some stocks on the move. Bloomberg News Equities
Speaker 1: reporter Bailey Lipsheltz in the house. There's a lot of
Speaker 1: interesting stories today.
Speaker 3: Yeah, a lot of interesting stories today. Want to start
Speaker 3: with a couple of companies that reported after the Belltowner
Speaker 3: moving live. Starting with core Weave ticker CRWV, one of
Speaker 3: the hottest IPOs this year. Had been up and through
Speaker 3: the close more than two hundred and seventy percent. Right
Speaker 3: now down about six percent, steeper than expected losses. They're
Speaker 3: looking through the initial Wall Street analyst reaction. Not bad
Speaker 3: in terms of growth. We're keeping an eye on a backlog.
Speaker 3: This is a company that is a key contributor to
Speaker 3: the AI story cloud Compute. Microsoft's a big customer. But
Speaker 3: the big story with this results and with the company
Speaker 3: going forward is the earnings print now means that the
Speaker 3: lock up will happen on Friday meeting. Long term investors
Speaker 3: can start selling shares as as soon as Friday, when
Speaker 3: the stock's up more than two hundred and seventy percent.
Speaker 3: Could be something that we're keeping an eye on.
Speaker 4: Kind of a no brainer, right, Yeah, interestinating to you
Speaker 4: from Ono Agrana just about that level of demand which
Speaker 4: you see put it is not subsiding by anyway. So
Speaker 4: if you look at the picture of this company and
Speaker 4: others like it, they are working hard to slake that demand.
Speaker 4: I mean, there's so much interest here in expanding the
Speaker 4: I infrastructure, and they play companies like where We've played
Speaker 4: such a critical role.
Speaker 1: In though it means I've got to spend money too,
Speaker 1: right to kind of meet all that demand. All right,
Speaker 1: where shall we go next?
Speaker 5: Kava the Mediterranean, Let's get dinner rough going, COVID starting
Speaker 5: under the ticker Cava, its name down more than twenty
Speaker 5: percent post market, so joining the likes of Sweet Green
Speaker 5: in terms of missing expectations, talking down and lowering their
Speaker 5: comp sales expectations for the year, this is a company
Speaker 5: that really is talking about when you look through the
Speaker 5: the CEO's commentary and even its comments in a Bloomberg
Speaker 5: News interview saying tailwins aren't there that were there?
Speaker 3: Last year. This is a company that is trimming its
Speaker 3: annual sales. Outlook again one of the better performing IPOs
Speaker 3: from a few years back. Price at twenty two bucks
Speaker 3: traded north of one hundred and fifty, but right now
Speaker 3: in postmarket trading sixty five dollars. I don't know about you, guys,
Speaker 3: but maybe if you're trying to make more lunches at home,
Speaker 3: you're not paying up for cava on the road.
Speaker 1: I don't know how to make sense of this because
Speaker 1: I always feel like speakreen. I know, it's maybe a
Speaker 1: twenty dollars sale is expensive sixteen, but it's our sixteen.
Speaker 4: But who's checking?
Speaker 3: All right?
Speaker 2: Who's Jackie?
Speaker 1: Who's jack But it seems like this isn't crazy expensive.
Speaker 4: I guess it's a level of relativism. But I am at.
Speaker 4: We were talking earlier in the show just about kind
Speaker 4: of the unseen effects of trade policy, what's going on
Speaker 4: with the economy, and here we have something manifest that
Speaker 4: I think might be an indication of just sort of
Speaker 4: where things are headed that again isn't showing up in
Speaker 4: the headline data that we look at. But I do
Speaker 4: feel like when you look at kind of data points
Speaker 4: like this, from the corporate side of things, it's telling
Speaker 4: you something just about are are kind of consumer appetites
Speaker 4: in the US today.
Speaker 3: I will say one thing on the stocks front, if
Speaker 3: you run the EQRV function on the terminal, blending forward
Speaker 3: price to earnings like one hundred and twenty seven times,
Speaker 3: so you compare that to some of the competitors well
Speaker 3: above and quite expensive. This is really pitched as a
Speaker 3: growth story, a company that'll continue to open storefront. So
Speaker 3: just want to keep that in mind.
Speaker 4: Fundamentally a hummus company, right, I mean, it is what
Speaker 4: it is which rains a little bit more than that is.
Speaker 4: I feel like that's what I That was my introduction
Speaker 4: to calling a right, Sorry, I'll take it.
Speaker 5: Yeah.
Speaker 1: Number three E Toro.
Speaker 3: So this is a brokerage platform catering to stocks and crypto.
Speaker 3: Another newly public company that really was hoping to ride
Speaker 3: this retail trading craze. Ticker eto r. IPO was actually
Speaker 3: pretty well received. Was up about thirty percent when it
Speaker 3: went public back in MAYBA right now closing below that
Speaker 3: issue price falling more than eight percent today, closing in
Speaker 3: a record low first time it broke below that IPO
Speaker 3: price is coming after second quarter results were pretty shoppy,
Speaker 3: Cowen calling them on even The big thing is been
Speaker 3: how can the company continue to draw users, especially with
Speaker 3: such a heavy presence in the UK. It's not the Robinhood,
Speaker 3: it's not catering to the memestock traders quite as much,
Speaker 3: so certainly want to keep an eye on, but definitely
Speaker 3: a smaller company all things considered, just over four billion dollars.
Speaker 4: Does this have anything to do just sort of with
Speaker 4: the kind of mainstreamification of crypto. We look at the
Speaker 4: way that it's kind of encroached on portfolios, the way
Speaker 4: the kind of regulatory landscape has changed. Is that hurting
Speaker 4: a company like this when it becomes a less specialized thing.
Speaker 4: You don't have to go to etro to kind of
Speaker 4: trade crypto or get some exposure to crypto in the
Speaker 4: way that you used to in the past.
Speaker 3: I think that's been a big debate and a big
Speaker 3: issue for a number of these companies that cater to
Speaker 3: retail traders. Robinhood very much has leaned into that, trying
Speaker 3: to offer as many tokens as possible. But to your point,
Speaker 3: if your sales pitches that you're going to bring in
Speaker 3: more people trading these mean coins or bitcoin outright. You
Speaker 3: have Coinbase, you can do that on, you have Robinhood.
Speaker 3: You have so many brokers in exchanges trying to cater
Speaker 3: and offer that you should be hunting out feet presumably
Speaker 3: if you're doing that.
Speaker 1: And went till the big guys come in, they finally decide.
Speaker 1: I mean, I feel like right, JP Morgan and Jamie
Speaker 1: Diamond has gotten a little bit more interested in this
Speaker 1: because I think their clients are interested in it, and
Speaker 1: so you wonder if they start to get in what
Speaker 1: it means for some of these smaller players.
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