1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,920 --> 00:00:19,040 Speaker 1: I'm Carol Massler Long with Tim Stanwick. Let's get to 5 00:00:19,200 --> 00:00:21,040 Speaker 1: some of the stocks on the move on this Thursday 6 00:00:21,040 --> 00:00:23,759 Speaker 1: Bloomberg News process. That reporter Isabell Ye. She is back 7 00:00:23,800 --> 00:00:25,000 Speaker 1: in the house. Coinbase. 8 00:00:25,720 --> 00:00:28,440 Speaker 3: We have to talk about coinbas tickers ci in. So 9 00:00:28,520 --> 00:00:32,680 Speaker 3: it's barely hanging on to those gains just up by 10 00:00:32,720 --> 00:00:34,840 Speaker 3: happen like so definitive and then. 11 00:00:34,840 --> 00:00:37,240 Speaker 4: Combu gainers or decliners, so it kind of doesn't matter. 12 00:00:37,920 --> 00:00:40,680 Speaker 3: Yeah, but I like Coinbase. It's a sixty six billion 13 00:00:40,720 --> 00:00:43,279 Speaker 3: dollar company and it was raised to a buy from 14 00:00:43,320 --> 00:00:45,800 Speaker 3: Neutral and Bang of America. So the bank said it's 15 00:00:45,800 --> 00:00:48,360 Speaker 3: optimistic on growth from new products and a lower valuation, 16 00:00:48,720 --> 00:00:51,839 Speaker 3: and they see opportunity with a tokenization product, and they 17 00:00:51,840 --> 00:00:54,440 Speaker 3: see the company as a likely partner for traditional finance 18 00:00:54,480 --> 00:00:58,280 Speaker 3: firms or tradfi as people on Twitter say, So tokenization 19 00:00:58,400 --> 00:01:00,560 Speaker 3: is the hot word these days. Just think but as 20 00:01:00,800 --> 00:01:03,960 Speaker 3: you know, converting conventional assets like stocks, bonds and all 21 00:01:04,000 --> 00:01:08,119 Speaker 3: of that into blockchain based tokens that you can trade 22 00:01:08,160 --> 00:01:10,560 Speaker 3: on a fractional basis. It's a lot of people are 23 00:01:10,560 --> 00:01:14,800 Speaker 3: trying it, from Janie Henderson to Robinhood. It's just really 24 00:01:14,959 --> 00:01:18,440 Speaker 3: the next thing. I mean, Blackrock also is pushing into that. 25 00:01:18,520 --> 00:01:21,319 Speaker 1: So it doesn't replace an exchange. It just means the 26 00:01:21,360 --> 00:01:24,880 Speaker 1: transaction and moving like if an ownership or something right. 27 00:01:24,959 --> 00:01:27,080 Speaker 3: Is that what it doesn't work place? I think, for example, 28 00:01:27,400 --> 00:01:29,200 Speaker 3: when I talk to one as a manager, they launch 29 00:01:29,200 --> 00:01:31,679 Speaker 3: a private credit tokenized fund, and what they want to 30 00:01:31,720 --> 00:01:35,120 Speaker 3: tap is a different set of market entirely people who 31 00:01:35,160 --> 00:01:37,080 Speaker 3: live on the blockchain. So it's not like they want 32 00:01:37,120 --> 00:01:39,640 Speaker 3: to move people in the trade file world to this 33 00:01:39,680 --> 00:01:43,319 Speaker 3: world post the crypto show. What are your thoughts, Tim. 34 00:01:43,240 --> 00:01:47,160 Speaker 4: Well, you know, is that a believer the blockchain? 35 00:01:47,840 --> 00:01:50,240 Speaker 3: You do know? I don't, but I kind of. 36 00:01:51,760 --> 00:01:51,840 Speaker 2: No. 37 00:01:51,960 --> 00:01:55,280 Speaker 1: But I kind of get the import of the blockchain 38 00:01:55,360 --> 00:01:57,000 Speaker 1: for a lot of things in terms of movement. But 39 00:01:57,000 --> 00:02:00,400 Speaker 1: you would also though in the financial sector like potentially 40 00:02:00,560 --> 00:02:03,960 Speaker 1: cut out layers. But it sounds like traditional trad FI 41 00:02:04,400 --> 00:02:06,000 Speaker 1: wants to be a part of this, so then maybe 42 00:02:06,000 --> 00:02:09,400 Speaker 1: the layers come back. Are you a believer, mister crypto? 43 00:02:09,480 --> 00:02:11,359 Speaker 4: It's not my job to believe that, is true? 44 00:02:11,720 --> 00:02:14,920 Speaker 3: Job to facts. Okay, now Coinbase is in the red. 45 00:02:15,040 --> 00:02:17,200 Speaker 1: Okay, is Nike on the blockchain? 46 00:02:17,600 --> 00:02:20,560 Speaker 3: Nike is not yet on the blockchain. It's on people's feet. 47 00:02:21,040 --> 00:02:24,359 Speaker 3: That's a bad thing. The stock is higher by three 48 00:02:24,440 --> 00:02:27,120 Speaker 3: and a half percent. Ticker is n k E. So 49 00:02:27,240 --> 00:02:30,200 Speaker 3: lots of headlines. Actually, so the latest is Nike is 50 00:02:30,240 --> 00:02:32,360 Speaker 3: saying that it won't have to face claims from a 51 00:02:32,360 --> 00:02:34,880 Speaker 3: fired executive whose first language is Spanish and it's over 52 00:02:34,919 --> 00:02:37,400 Speaker 3: the age of fifty that he was subjected to mocking 53 00:02:37,440 --> 00:02:41,400 Speaker 3: comments about his age and his accent. The other news 54 00:02:41,520 --> 00:02:44,320 Speaker 3: is Needum. Yes, actually that was loaded and I'm moving 55 00:02:44,320 --> 00:02:47,240 Speaker 3: on to the next Needum downgrading the footwear maker to 56 00:02:47,360 --> 00:02:50,799 Speaker 3: hold from by. Nike has struggled in the past year 57 00:02:51,160 --> 00:02:55,120 Speaker 3: with the sales in China, and it's Converse brand, so 58 00:02:55,240 --> 00:02:57,160 Speaker 3: I think people still wear Converse, so I see some 59 00:02:57,240 --> 00:02:59,280 Speaker 3: in the office. So lots of headlines moving for Nike. 60 00:02:59,440 --> 00:03:01,560 Speaker 4: You know one thing that happened yesterday with Nike that 61 00:03:01,840 --> 00:03:03,839 Speaker 4: you may be referring to Carol when you asked about 62 00:03:03,840 --> 00:03:08,880 Speaker 4: the blockchain, is the company sold its digital products subsidiary Artifact. Yes, 63 00:03:09,240 --> 00:03:13,640 Speaker 4: it's it's pronounce Artifact, but it's all caps RT fkt uh. 64 00:03:14,160 --> 00:03:18,360 Speaker 4: They were going into blockchain collectibles years ago. They shuttered 65 00:03:18,360 --> 00:03:20,839 Speaker 4: the business a year ago. They finally sold it off 66 00:03:21,040 --> 00:03:23,799 Speaker 4: this week. So there is a blockchain I don't get. 67 00:03:24,080 --> 00:03:25,680 Speaker 1: I also don't get that party there. 68 00:03:25,720 --> 00:03:28,760 Speaker 4: So imagine you're in the metaverse. This was the you 69 00:03:28,760 --> 00:03:30,880 Speaker 4: know twenty twenty one. Well I remember this was the 70 00:03:30,880 --> 00:03:34,560 Speaker 4: twenty one story. Right, You're in the metaverse and you're like, oh, 71 00:03:34,560 --> 00:03:36,400 Speaker 4: I'm in the metaverse. I need a pair of Nikes. 72 00:03:36,440 --> 00:03:37,320 Speaker 4: I'll pay for the No. 73 00:03:37,440 --> 00:03:39,640 Speaker 1: I know, people, if we're going to do designer shopping, 74 00:03:39,800 --> 00:03:42,280 Speaker 1: do you want to do a digital designer shopping or 75 00:03:42,280 --> 00:03:43,160 Speaker 1: do you want the real thing? 76 00:03:43,280 --> 00:03:46,680 Speaker 3: I mean, there were collectle we're making those. Their Twitter 77 00:03:46,720 --> 00:03:49,680 Speaker 3: photos are what a time? What a time? Look at us? 78 00:03:49,800 --> 00:03:50,320 Speaker 1: It ain't over. 79 00:03:50,360 --> 00:03:54,800 Speaker 3: You moved on. So House, Okay, this one is deep, 80 00:03:54,920 --> 00:03:58,000 Speaker 3: deep in the red. I'm not cool enough for sol House, 81 00:03:58,040 --> 00:04:00,520 Speaker 3: but it's a member's only club to the uninitial and 82 00:04:00,640 --> 00:04:02,360 Speaker 3: typically for the creative types. 83 00:04:03,200 --> 00:04:04,080 Speaker 4: You're definitely cool. 84 00:04:04,640 --> 00:04:06,600 Speaker 3: She is cool. We should just form our own club. 85 00:04:06,720 --> 00:04:08,840 Speaker 3: So the stock is dall. 86 00:04:08,680 --> 00:04:09,600 Speaker 1: At Bloomberg House. 87 00:04:10,120 --> 00:04:14,080 Speaker 3: Oh that's that's cute, over and over so nice. 88 00:04:14,080 --> 00:04:15,400 Speaker 4: She's like, Okay, let me talk. 89 00:04:15,520 --> 00:04:20,320 Speaker 3: It's cute, okay, so that's tickers sh CEO. It's down 90 00:04:20,360 --> 00:04:23,360 Speaker 3: big time eleven percent. That's after the company is facing 91 00:04:23,360 --> 00:04:26,200 Speaker 3: a funding gap tied to their pending sales. So MSR 92 00:04:26,240 --> 00:04:29,320 Speaker 3: Hospitality and QP said they can't fund a two hundred 93 00:04:29,360 --> 00:04:32,440 Speaker 3: million dollar equity commitment in full. So as brief background, 94 00:04:32,680 --> 00:04:35,720 Speaker 3: we have a group of investors leading led by several 95 00:04:35,760 --> 00:04:38,840 Speaker 3: boutique New York hotels, agreeing to take SOHO House private. 96 00:04:40,560 --> 00:04:44,600 Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with 97 00:04:44,680 --> 00:04:47,240 Speaker 2: us throughout the day for the latest roundup of companies 98 00:04:47,320 --> 00:04:50,400 Speaker 2: making news on Wall Street and for the latest market 99 00:04:50,440 --> 00:04:54,920 Speaker 2: moving headlines. 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