Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some of the stocks on
Speaker 2: the move today. I'm La Semidel alongside Paul Sweeny and
Speaker 2: we are joined by Bloomberg Denita Zekkova. So you want
Speaker 2: to kick it off as Circle Internet Group.
Speaker 3: Correct eight percent today. Obviously, this stable coin issue was
Speaker 3: on an incredible rally after its IPO. It's still up,
Speaker 3: it's up more than five hundred percent since its IPO,
Speaker 3: but that in niche Elphoria, it was kind of day
Speaker 3: in a day of double digit gains, seemed to be fading.
Speaker 3: What we're seeing today is a downgrade to sell. It's
Speaker 3: coming from Compass Point Research. Their price stack grid cut
Speaker 3: is also significant from two hundred and five two hundred
Speaker 3: and thirty dollars, and we're actually seeing more and more
Speaker 3: sale ratings for the company. It currently has four sale
Speaker 3: ratings and six hold ratings, so those are piling up
Speaker 3: pretty fast. Obviously a lot of companies are just initiating
Speaker 3: their coverage, but the analysts are saying that their long
Speaker 3: term margins and market share expectations may have to be recalibrated.
Speaker 3: So their main crypto currency, stable coin, is us DC
Speaker 3: and it's already integrated with twenty four different block chains,
Speaker 3: and there are only so many chains that can afford
Speaker 3: these integration fees. Of course, a lot of the euphoria's
Speaker 3: happening as the stable coil legislation was moving through Congress.
Speaker 3: That is done now, so that would be one reason
Speaker 3: we're not seeing so much of Forhoia. Of course, the
Speaker 3: ticker is CrCL. Still massive ear today game, but a
Speaker 3: lot of the more pressure coming in the last few days.
Speaker 2: All right, Just to remind people saying IPO June fourth
Speaker 2: of twenty twenty five at thirty one dollars a share,
Speaker 2: it's now.
Speaker 1: Two hundred dollars a share in Credible. That's not what
Speaker 1: else you.
Speaker 2: Got, Yeah, not that at all.
Speaker 3: Another one that's kind of in that real of massive
Speaker 3: jumps and outlassified as a meme Stock Frenzy. Open Door
Speaker 3: Technologies yesterday was a massive jump. It jump as much
Speaker 3: as one hundred twenty one percent. The ticker is ope
Speaker 3: N today. It's extending that rally now it's a little
Speaker 3: bit slower but much. It jumped as much as twenty
Speaker 3: four percent in earlier trading. Shares were holded because of volativity.
Speaker 3: It's kind of a sudden retail favorite. It's also coming
Speaker 3: off social media posts from hedge fund manator Eric Jackson,
Speaker 3: who made a series of posts encouraging buying. It was
Speaker 3: one of the most popular stocks on stock twits and Reddit,
Speaker 3: Wall Street beds. We're kind of seeing this week a
Speaker 3: big resurgence in those which I don't know where it's
Speaker 3: coming from, but clearly there is a lot of sentiment.
Speaker 3: Market is at record high scripture is at record highs.
Speaker 3: The stock was down fifty one percent before this, now
Speaker 3: it's up one hundred and eleven per sent here today.
Speaker 2: Like we were saying nicoles this right of lastly Philip Morris,
Speaker 2: Philip Morris, very different story, but the stock fell after
Speaker 2: shipments of z nicotine patches, the pouches, those are obviously
Speaker 2: kind of very popular.
Speaker 3: In some time, their net revenue also miss estimate the
Speaker 3: company lord it's outlook for total products. Schipments dragged down
Speaker 3: by cigarette. Shares of Philip Morris fell as much as
Speaker 3: ten percent in earlier trading. This was the biggest intro
Speaker 3: day drop since March twenty twenty, they had soored fifty
Speaker 3: percent so far this year, so clearly this one day
Speaker 3: drop is not that bad but.
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