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 Jim Steadveek along with Carol Masser. Let's take a
Speaker 1: look at some stocks on the move today. We're joined
Speaker 1: by Alexander's Alexandra Semonova. She's Bloomberg News equities reporter alex
Speaker 1: Stock's on the move today, no shortest.
Speaker 3: She's from a big move. For this one, I robot
Speaker 3: filed for bankruptcy and I'm so sad. It's very sad.
Speaker 3: This is a very so many room dows.
Speaker 4: In my house.
Speaker 1: Okay, wait wait, have they actually been roombas or were
Speaker 1: they knockoffs?
Speaker 4: No, we were like early on. I mean we had
Speaker 4: your loyalists for our dogs, like you know, yeah, yeah,
Speaker 4: for our Dalmatians, which we don't have anymore. They're gone,
Speaker 4: sorry guys, but I mean yeah, and we had one
Speaker 4: to watch the floor and went through a couple of
Speaker 4: different iterations.
Speaker 1: So we are you're you're you're on.
Speaker 3: Okay. Now, well, apparently the problem was that not everyone
Speaker 3: like you, Carol, was buying the original people were buying
Speaker 3: the Amazon knockoffs, which didn't fare well for the company,
Speaker 3: hence it giving over control to its main Chinese supplier.
Speaker 3: The common stock of I Robot will be wiped out
Speaker 3: under the proposed Chapter eleven plan. It listed between one
Speaker 3: hundred million dollars and five hundred million dollars worth of
Speaker 3: assets and liabilities in the filing and if you look
Speaker 3: at the share move today, it's down more than seventy percent.
Speaker 3: So a really brutal day for this company. Bad day
Speaker 3: for carpets as well.
Speaker 4: I guess if you have a pet, it's like the
Speaker 4: it's really fine, like you to go and the pet
Speaker 4: like I've seen on the videos of dogs like jumping
Speaker 4: onto that.
Speaker 1: We always had with these because we had one of
Speaker 1: the knockoffs. The challenge that we always had was you
Speaker 1: had to have like no obstacles. Yeah in the way.
Speaker 3: I'm sure that you don't have to monitor it, make
Speaker 3: sure that it doesn't get like stuck.
Speaker 1: I would also just stand there watching it, and I'm like,
Speaker 1: I'd stand there watching and be like, and my wife's like,
Speaker 1: is it are you actually saving any time? If you're
Speaker 1: just going to stand there and watch it, Like, couldn't
Speaker 1: you just be vacuumated and wasteless time.
Speaker 4: I don't remember the original. Like it would go under
Speaker 4: the couch, it would go like the only thing you
Speaker 4: had to be careful is if you had a rug
Speaker 4: with like fringes and so on and so forth. The end,
Speaker 4: it could chew it up a little bit, maybe if
Speaker 4: you didn't buy the knockoff.
Speaker 1: Remember Amazon offered to buy this company and it wasn't
Speaker 1: allowed to So that's sort of.
Speaker 3: Been a great change of fortunes for them. But okay,
Speaker 3: rest in peace, rumba.
Speaker 1: There are other stocks you want to talk about.
Speaker 3: Yeah, So Michael Sailor's strategy is also a big one.
Speaker 3: Today it acquired almost a billion dollars in bitcoin for
Speaker 3: a second straight week, as the cryptocurrency has been falling.
Speaker 3: This was the largest amount of bitcoin acquired since July
Speaker 3: and it's second straight week of buying over ten thousand bitcoin.
Speaker 3: To its books, it used proceeds from sales of its
Speaker 3: Class A common stock, which is a model that some
Speaker 3: critics say dilutes the existing shareholder's equity. There has been
Speaker 3: market speculation that the company might be removed from some
Speaker 3: key equity indexes, but the Nasdaq one hundred actually opted
Speaker 3: late Friday to keep strategy in the index when it
Speaker 3: had its annual reconstitution. Shares are down right now, looks
Speaker 3: like seven percent. And of course Bitcoin has been tumbling
Speaker 3: to this year's lows. It is down about thirty percent
Speaker 3: from an all time high of just over one hundred
Speaker 3: and twenty six thousand in early October.
Speaker 1: Now we're seeing someone met them last week when it was,
Speaker 1: you know, above ninety three thousand percent point, but that
Speaker 1: didn't six.
Speaker 4: I just don't understand, like, are they I keep thinking
Speaker 4: that are they just creating demand here?
Speaker 1: You're talking strategies.
Speaker 3: Absolutely, yeah, you would think that their purchases are a
Speaker 3: test of confidence for bitcoin, but them buying it up
Speaker 3: clearly asn't helping the cryptocurrency right now. And what's interesting too,
Speaker 3: is it's not like there has been kind of a
Speaker 3: risk off mood on Wall Street. People are still buying
Speaker 3: stocks right but Bitcoin has been.
Speaker 4: Tesla could end at a record today, are so my
Speaker 4: co host reminded me, where do you want to go?
Speaker 4: Number three?
Speaker 3: Last one is Zillow. Shares of the company are tumbling today.
Speaker 3: Looks like it's down about eight point four percent right now.
Speaker 3: This is after report that Alphabet's Google has begun testing
Speaker 3: a new advertising platform for real estate listings. This threatens
Speaker 3: portals like Zilo and of course some of its competitors.
Speaker 3: If you look at Costar Group, which is owner of
Speaker 3: homes dot com, it also fell as much as nine
Speaker 3: point one percent today to a July twenty twenty two
Speaker 3: intraday low. Google's listings basically allow users to view full
Speaker 3: details of a property right as you search it. You
Speaker 3: can request a tour. Contacts the agent Goldman Sachs that
Speaker 3: they don't expect a direct near term hit, but this
Speaker 3: could be a problem in the long run.
Speaker 2: The stock movers report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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Speaker 2: Auto with the Bloomberg Business app.
Speaker 1: Mm hmm.