WEBVTT - Circle Internet Group Drops, Opendoor Technologies Surges, Philip Morris Falls

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look at some of the stocks on

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<v Speaker 2>the move today. I'm La Semidel alongside Paul Sweeny and

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<v Speaker 2>we are joined by Bloomberg Denita Zekkova. So you want

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<v Speaker 2>to kick it off as Circle Internet Group.

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<v Speaker 3>Correct eight percent today. Obviously, this stable coin issue was

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<v Speaker 3>on an incredible rally after its IPO. It's still up,

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<v Speaker 3>it's up more than five hundred percent since its IPO,

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<v Speaker 3>but that in niche Elphoria, it was kind of day

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<v Speaker 3>in a day of double digit gains, seemed to be fading.

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<v Speaker 3>What we're seeing today is a downgrade to sell. It's

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<v Speaker 3>coming from Compass Point Research. Their price stack grid cut

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<v Speaker 3>is also significant from two hundred and five two hundred

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<v Speaker 3>and thirty dollars, and we're actually seeing more and more

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<v Speaker 3>sale ratings for the company. It currently has four sale

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<v Speaker 3>ratings and six hold ratings, so those are piling up

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<v Speaker 3>pretty fast. Obviously a lot of companies are just initiating

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<v Speaker 3>their coverage, but the analysts are saying that their long

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<v Speaker 3>term margins and market share expectations may have to be recalibrated.

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<v Speaker 3>So their main crypto currency, stable coin, is us DC

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<v Speaker 3>and it's already integrated with twenty four different block chains,

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<v Speaker 3>and there are only so many chains that can afford

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<v Speaker 3>these integration fees. Of course, a lot of the euphoria's

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<v Speaker 3>happening as the stable coil legislation was moving through Congress.

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<v Speaker 3>That is done now, so that would be one reason

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<v Speaker 3>we're not seeing so much of Forhoia. Of course, the

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<v Speaker 3>ticker is CrCL. Still massive ear today game, but a

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<v Speaker 3>lot of the more pressure coming in the last few days.

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<v Speaker 2>All right, Just to remind people saying IPO June fourth

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<v Speaker 2>of twenty twenty five at thirty one dollars a share,

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<v Speaker 2>it's now.

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<v Speaker 1>Two hundred dollars a share in Credible. That's not what

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<v Speaker 1>else you.

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<v Speaker 2>Got, Yeah, not that at all.

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<v Speaker 3>Another one that's kind of in that real of massive

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<v Speaker 3>jumps and outlassified as a meme Stock Frenzy. Open Door

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<v Speaker 3>Technologies yesterday was a massive jump. It jump as much

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<v Speaker 3>as one hundred twenty one percent. The ticker is ope

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<v Speaker 3>N today. It's extending that rally now it's a little

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<v Speaker 3>bit slower but much. It jumped as much as twenty

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<v Speaker 3>four percent in earlier trading. Shares were holded because of volativity.

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<v Speaker 3>It's kind of a sudden retail favorite. It's also coming

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<v Speaker 3>off social media posts from hedge fund manator Eric Jackson,

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<v Speaker 3>who made a series of posts encouraging buying. It was

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<v Speaker 3>one of the most popular stocks on stock twits and Reddit,

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<v Speaker 3>Wall Street beds. We're kind of seeing this week a

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<v Speaker 3>big resurgence in those which I don't know where it's

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<v Speaker 3>coming from, but clearly there is a lot of sentiment.

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<v Speaker 3>Market is at record high scripture is at record highs.

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<v Speaker 3>The stock was down fifty one percent before this, now

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<v Speaker 3>it's up one hundred and eleven per sent here today.

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<v Speaker 2>Like we were saying nicoles this right of lastly Philip Morris,

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<v Speaker 2>Philip Morris, very different story, but the stock fell after

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<v Speaker 2>shipments of z nicotine patches, the pouches, those are obviously

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<v Speaker 2>kind of very popular.

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<v Speaker 3>In some time, their net revenue also miss estimate the

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<v Speaker 3>company lord it's outlook for total products. Schipments dragged down

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<v Speaker 3>by cigarette. Shares of Philip Morris fell as much as

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<v Speaker 3>ten percent in earlier trading. This was the biggest intro

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<v Speaker 3>day drop since March twenty twenty, they had soored fifty

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<v Speaker 3>percent so far this year, so clearly this one day

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<v Speaker 3>drop is not that bad but.

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<v Speaker 1>The Stock Movers podcast from Bloomberg Radio. Check back with

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<v Speaker 1>us throughout today for the latest roundup of companies making

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<v Speaker 1>news on Wall Street and for the latest market moving headlines.

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