WEBVTT - iRobot Down, Strategy Inc. Falls after Bitcoin Purchase, Zillow Tumbles with new Google Real Estate Ads

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

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<v Speaker 2>The Stock Movers report your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Jim Steadveek along with Carol Masser. Let's take a

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<v Speaker 1>look at some stocks on the move today. We're joined

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<v Speaker 1>by Alexander's Alexandra Semonova. She's Bloomberg News equities reporter alex

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<v Speaker 1>Stock's on the move today, no shortest.

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<v Speaker 3>She's from a big move. For this one, I robot

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<v Speaker 3>filed for bankruptcy and I'm so sad. It's very sad.

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<v Speaker 3>This is a very so many room dows.

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<v Speaker 4>In my house.

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<v Speaker 1>Okay, wait wait, have they actually been roombas or were

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<v Speaker 1>they knockoffs?

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<v Speaker 4>No, we were like early on. I mean we had

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<v Speaker 4>your loyalists for our dogs, like you know, yeah, yeah,

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<v Speaker 4>for our Dalmatians, which we don't have anymore. They're gone,

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<v Speaker 4>sorry guys, but I mean yeah, and we had one

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<v Speaker 4>to watch the floor and went through a couple of

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<v Speaker 4>different iterations.

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<v Speaker 1>So we are you're you're you're on.

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<v Speaker 3>Okay. Now, well, apparently the problem was that not everyone

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<v Speaker 3>like you, Carol, was buying the original people were buying

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<v Speaker 3>the Amazon knockoffs, which didn't fare well for the company,

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<v Speaker 3>hence it giving over control to its main Chinese supplier.

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<v Speaker 3>The common stock of I Robot will be wiped out

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<v Speaker 3>under the proposed Chapter eleven plan. It listed between one

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<v Speaker 3>hundred million dollars and five hundred million dollars worth of

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<v Speaker 3>assets and liabilities in the filing and if you look

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<v Speaker 3>at the share move today, it's down more than seventy percent.

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<v Speaker 3>So a really brutal day for this company. Bad day

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<v Speaker 3>for carpets as well.

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<v Speaker 4>I guess if you have a pet, it's like the

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<v Speaker 4>it's really fine, like you to go and the pet

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<v Speaker 4>like I've seen on the videos of dogs like jumping

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<v Speaker 4>onto that.

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<v Speaker 1>We always had with these because we had one of

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<v Speaker 1>the knockoffs. The challenge that we always had was you

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<v Speaker 1>had to have like no obstacles. Yeah in the way.

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<v Speaker 3>I'm sure that you don't have to monitor it, make

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<v Speaker 3>sure that it doesn't get like stuck.

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<v Speaker 1>I would also just stand there watching it, and I'm like,

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<v Speaker 1>I'd stand there watching and be like, and my wife's like,

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<v Speaker 1>is it are you actually saving any time? If you're

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<v Speaker 1>just going to stand there and watch it, Like, couldn't

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<v Speaker 1>you just be vacuumated and wasteless time.

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<v Speaker 4>I don't remember the original. Like it would go under

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<v Speaker 4>the couch, it would go like the only thing you

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<v Speaker 4>had to be careful is if you had a rug

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<v Speaker 4>with like fringes and so on and so forth. The end,

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<v Speaker 4>it could chew it up a little bit, maybe if

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<v Speaker 4>you didn't buy the knockoff.

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<v Speaker 1>Remember Amazon offered to buy this company and it wasn't

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<v Speaker 1>allowed to So that's sort of.

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<v Speaker 3>Been a great change of fortunes for them. But okay,

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<v Speaker 3>rest in peace, rumba.

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<v Speaker 1>There are other stocks you want to talk about.

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<v Speaker 3>Yeah, So Michael Sailor's strategy is also a big one.

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<v Speaker 3>Today it acquired almost a billion dollars in bitcoin for

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<v Speaker 3>a second straight week, as the cryptocurrency has been falling.

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<v Speaker 3>This was the largest amount of bitcoin acquired since July

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<v Speaker 3>and it's second straight week of buying over ten thousand bitcoin.

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<v Speaker 3>To its books, it used proceeds from sales of its

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<v Speaker 3>Class A common stock, which is a model that some

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<v Speaker 3>critics say dilutes the existing shareholder's equity. There has been

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<v Speaker 3>market speculation that the company might be removed from some

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<v Speaker 3>key equity indexes, but the Nasdaq one hundred actually opted

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<v Speaker 3>late Friday to keep strategy in the index when it

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<v Speaker 3>had its annual reconstitution. Shares are down right now, looks

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<v Speaker 3>like seven percent. And of course Bitcoin has been tumbling

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<v Speaker 3>to this year's lows. It is down about thirty percent

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<v Speaker 3>from an all time high of just over one hundred

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<v Speaker 3>and twenty six thousand in early October.

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<v Speaker 1>Now we're seeing someone met them last week when it was,

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<v Speaker 1>you know, above ninety three thousand percent point, but that

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<v Speaker 1>didn't six.

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<v Speaker 4>I just don't understand, like, are they I keep thinking

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<v Speaker 4>that are they just creating demand here?

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<v Speaker 1>You're talking strategies.

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<v Speaker 3>Absolutely, yeah, you would think that their purchases are a

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<v Speaker 3>test of confidence for bitcoin, but them buying it up

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<v Speaker 3>clearly asn't helping the cryptocurrency right now. And what's interesting too,

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<v Speaker 3>is it's not like there has been kind of a

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<v Speaker 3>risk off mood on Wall Street. People are still buying

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<v Speaker 3>stocks right but Bitcoin has been.

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<v Speaker 4>Tesla could end at a record today, are so my

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<v Speaker 4>co host reminded me, where do you want to go?

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<v Speaker 4>Number three?

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<v Speaker 3>Last one is Zillow. Shares of the company are tumbling today.

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<v Speaker 3>Looks like it's down about eight point four percent right now.

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<v Speaker 3>This is after report that Alphabet's Google has begun testing

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<v Speaker 3>a new advertising platform for real estate listings. This threatens

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<v Speaker 3>portals like Zilo and of course some of its competitors.

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<v Speaker 3>If you look at Costar Group, which is owner of

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<v Speaker 3>homes dot com, it also fell as much as nine

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<v Speaker 3>point one percent today to a July twenty twenty two

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<v Speaker 3>intraday low. Google's listings basically allow users to view full

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<v Speaker 3>details of a property right as you search it. You

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<v Speaker 3>can request a tour. Contacts the agent Goldman Sachs that

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<v Speaker 3>they don't expect a direct near term hit, but this

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<v Speaker 3>could be a problem in the long run.

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<v Speaker 1>Mm hmm.