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: Stock's on the move. I'm Charlie Pella joining us now
Speaker 3: Bloomberg's Avalon Parnell Avalon. We got to begin with the
Speaker 3: big stock story of the day, the IPO SpaceX. How
Speaker 3: is it greeted by Wall Street?
Speaker 1: Absolutely, that's ticker SPCX currently jumping about twenty three percent
Speaker 1: after its record seventy five billion dollar IPO company trading
Speaker 1: right around one hundred and seventy dollars, which is far
Speaker 1: above it's one hundred and thirty five dollars IPO price,
Speaker 1: and that move instantly making the company one of the
Speaker 1: most valuable in the world and minting Elon Muskus the
Speaker 1: world's first trillionaire. But what I would actually say is
Speaker 1: really worth noting is that we got some trading insight
Speaker 1: from Vanda Research. They say SpaceX is on track to
Speaker 1: break the record for ip debuts, at least where retail
Speaker 1: investors are concerned. SpaceX is now the most bought stock
Speaker 1: by retail investors today.
Speaker 3: There's a function I love to run on the Bloomberg
Speaker 3: and that is you pull up the equities and what
Speaker 3: you do is you then run RV to find out
Speaker 3: how other similar stocks are doing. I want to talk
Speaker 3: a little bit about EchoStar because well, I'll let you
Speaker 3: tell the story what EchoStar does and why it is
Speaker 3: being affected by the SpaceX IPO.
Speaker 1: Yes, that's ticker SATs. It is currently slighting about twelve
Speaker 1: percent most intra day since last August, and that is
Speaker 1: because EchoStar is actually kind of confusing tdcowan analyst, saying
Speaker 1: that some of this sell off is driven by profit
Speaker 1: taking from SpaceX's IPO. However, it is worth noting that
Speaker 1: EchoStar has about a two percent stake in SpaceX, which
Speaker 1: made it a very popular way for some traders to
Speaker 1: indirectly invest in SpaceX. However, TDAS is saying that now
Speaker 1: some investors are shifting to own SpaceX directly, especially since
Speaker 1: EchoStar does not actually receive shares until November twenty two,
Speaker 1: twenty seven.
Speaker 3: All Right, another stock that is moving on the SPACEXIPO,
Speaker 3: and that is ASTs. That's the ticker AST. Space Mobile
Speaker 3: not a company that we talk about that often. What
Speaker 3: do they do and why are they moving on the spacexipo.
Speaker 1: Yes, this is another space related name, currently falling about
Speaker 1: fifteen percent to hit its lowest inter day level in
Speaker 1: about a month. I'm sure you already know rocket, satellite
Speaker 1: and space linked companies are sliding as investors race toward
Speaker 1: Elon musk Ipo. Joe Gilbert at Integrity Asset Management actually
Speaker 1: telling us that SpaceX is just going to continue to
Speaker 1: take all the oxygen out of the space and absorb
Speaker 1: a lot of dollars in interest, and that's really what
Speaker 1: we've been seeing in the markets. Those moves also underscoring
Speaker 1: how speculative the space business remains, with SpaceX really securing
Speaker 1: a market valuation that's some one hundred times larger than
Speaker 1: its annual revenue. However, it is worth noting that ast
Speaker 1: space mobile still has surged more than seven hundred and
Speaker 1: fifty percent in the last two years.
Speaker 2: This stockmover's report from Bloomberg Radio. Check back with us
Speaker 2: throughout the day for the latest roundup of companies making
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