1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:17,160 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:17,960 --> 00:00:19,360 Speaker 2: Let's take a look at some of the stocks on 5 00:00:19,400 --> 00:00:22,320 Speaker 2: the move today. I'm La Semidel alongside Paul Sweeny and 6 00:00:22,400 --> 00:00:25,960 Speaker 2: we are joined by Bloomberg Denita Zekkova. So you want 7 00:00:26,000 --> 00:00:28,120 Speaker 2: to kick it off as Circle Internet Group. 8 00:00:27,920 --> 00:00:32,280 Speaker 3: Correct eight percent today. Obviously, this stable coin issue was 9 00:00:32,440 --> 00:00:35,560 Speaker 3: on an incredible rally after its IPO. It's still up, 10 00:00:35,600 --> 00:00:38,960 Speaker 3: it's up more than five hundred percent since its IPO, 11 00:00:39,320 --> 00:00:41,960 Speaker 3: but that in niche Elphoria, it was kind of day 12 00:00:42,000 --> 00:00:45,280 Speaker 3: in a day of double digit gains, seemed to be fading. 13 00:00:45,400 --> 00:00:50,000 Speaker 3: What we're seeing today is a downgrade to sell. It's 14 00:00:50,000 --> 00:00:53,960 Speaker 3: coming from Compass Point Research. Their price stack grid cut 15 00:00:54,000 --> 00:00:57,320 Speaker 3: is also significant from two hundred and five two hundred 16 00:00:57,320 --> 00:01:00,080 Speaker 3: and thirty dollars, and we're actually seeing more and more 17 00:01:00,200 --> 00:01:03,280 Speaker 3: sale ratings for the company. It currently has four sale 18 00:01:03,320 --> 00:01:06,200 Speaker 3: ratings and six hold ratings, so those are piling up 19 00:01:06,240 --> 00:01:09,959 Speaker 3: pretty fast. Obviously a lot of companies are just initiating 20 00:01:09,959 --> 00:01:13,240 Speaker 3: their coverage, but the analysts are saying that their long 21 00:01:13,319 --> 00:01:17,479 Speaker 3: term margins and market share expectations may have to be recalibrated. 22 00:01:17,840 --> 00:01:21,840 Speaker 3: So their main crypto currency, stable coin, is us DC 23 00:01:22,480 --> 00:01:25,720 Speaker 3: and it's already integrated with twenty four different block chains, 24 00:01:25,959 --> 00:01:28,240 Speaker 3: and there are only so many chains that can afford 25 00:01:28,240 --> 00:01:31,760 Speaker 3: these integration fees. Of course, a lot of the euphoria's 26 00:01:31,880 --> 00:01:35,720 Speaker 3: happening as the stable coil legislation was moving through Congress. 27 00:01:35,840 --> 00:01:37,760 Speaker 3: That is done now, so that would be one reason 28 00:01:37,800 --> 00:01:39,800 Speaker 3: we're not seeing so much of Forhoia. Of course, the 29 00:01:39,840 --> 00:01:44,120 Speaker 3: ticker is CrCL. Still massive ear today game, but a 30 00:01:44,160 --> 00:01:46,520 Speaker 3: lot of the more pressure coming in the last few days. 31 00:01:46,560 --> 00:01:49,680 Speaker 2: All right, Just to remind people saying IPO June fourth 32 00:01:49,680 --> 00:01:52,200 Speaker 2: of twenty twenty five at thirty one dollars a share, 33 00:01:52,280 --> 00:01:52,720 Speaker 2: it's now. 34 00:01:52,640 --> 00:01:55,520 Speaker 1: Two hundred dollars a share in Credible. That's not what 35 00:01:55,560 --> 00:01:55,960 Speaker 1: else you. 36 00:01:55,880 --> 00:01:57,200 Speaker 2: Got, Yeah, not that at all. 37 00:01:57,440 --> 00:02:01,040 Speaker 3: Another one that's kind of in that real of massive 38 00:02:01,160 --> 00:02:05,080 Speaker 3: jumps and outlassified as a meme Stock Frenzy. Open Door 39 00:02:05,120 --> 00:02:08,919 Speaker 3: Technologies yesterday was a massive jump. It jump as much 40 00:02:08,960 --> 00:02:12,480 Speaker 3: as one hundred twenty one percent. The ticker is ope 41 00:02:12,800 --> 00:02:16,400 Speaker 3: N today. It's extending that rally now it's a little 42 00:02:16,400 --> 00:02:19,040 Speaker 3: bit slower but much. It jumped as much as twenty 43 00:02:19,040 --> 00:02:23,520 Speaker 3: four percent in earlier trading. Shares were holded because of volativity. 44 00:02:24,600 --> 00:02:28,519 Speaker 3: It's kind of a sudden retail favorite. It's also coming 45 00:02:28,639 --> 00:02:33,320 Speaker 3: off social media posts from hedge fund manator Eric Jackson, 46 00:02:34,040 --> 00:02:38,760 Speaker 3: who made a series of posts encouraging buying. It was 47 00:02:38,880 --> 00:02:43,040 Speaker 3: one of the most popular stocks on stock twits and Reddit, 48 00:02:43,040 --> 00:02:46,680 Speaker 3: Wall Street beds. We're kind of seeing this week a 49 00:02:46,720 --> 00:02:49,600 Speaker 3: big resurgence in those which I don't know where it's 50 00:02:49,600 --> 00:02:51,560 Speaker 3: coming from, but clearly there is a lot of sentiment. 51 00:02:51,800 --> 00:02:54,639 Speaker 3: Market is at record high scripture is at record highs. 52 00:02:54,840 --> 00:02:57,760 Speaker 3: The stock was down fifty one percent before this, now 53 00:02:57,760 --> 00:03:00,760 Speaker 3: it's up one hundred and eleven per sent here today. 54 00:03:00,919 --> 00:03:04,679 Speaker 2: Like we were saying nicoles this right of lastly Philip Morris, 55 00:03:04,840 --> 00:03:08,359 Speaker 2: Philip Morris, very different story, but the stock fell after 56 00:03:08,480 --> 00:03:12,480 Speaker 2: shipments of z nicotine patches, the pouches, those are obviously 57 00:03:12,560 --> 00:03:14,679 Speaker 2: kind of very popular. 58 00:03:14,840 --> 00:03:18,400 Speaker 3: In some time, their net revenue also miss estimate the 59 00:03:18,400 --> 00:03:22,359 Speaker 3: company lord it's outlook for total products. Schipments dragged down 60 00:03:22,400 --> 00:03:25,320 Speaker 3: by cigarette. Shares of Philip Morris fell as much as 61 00:03:25,360 --> 00:03:29,160 Speaker 3: ten percent in earlier trading. This was the biggest intro 62 00:03:29,240 --> 00:03:33,720 Speaker 3: day drop since March twenty twenty, they had soored fifty 63 00:03:33,760 --> 00:03:36,440 Speaker 3: percent so far this year, so clearly this one day 64 00:03:36,720 --> 00:03:38,000 Speaker 3: drop is not that bad but. 65 00:03:39,560 --> 00:03:43,720 Speaker 1: The Stock Movers podcast from Bloomberg Radio. 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