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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Carl Masser along with Tim Stanwick. Let's get to some stocks on the move with us is Bailey Lipshealtz of Business News Bloomberg News. I should say covers IPOs, covers the markets, covers a lot. Do you have an official title?
I do have an I have multiple effic Markets Reporter, Senior Equities Reporter, Deputy ecms are of the America's It's like I'm an investment banker. I love that.
How then are somebody in academia? They always have lots of titles. Anyway, we're so happy to have you here.
Where do you want to start? Can we start with Figma because in post market so totally tiggr fig Uh basically the creative software platform that went public last year. If you guys remember this was a company that on day one jumped I don't know, two hundred and fifty percent member and it's still about forty percent below at IPO price right now, but gaining, so it's up about
ten percent. This came after beating expectations giving a strong forward forecast, we're seeing revenue between one point four to two billion and one point four to three billion. Estimates were for one point three seven billion. So this is a company that really was damaged pretty sharply in concerns around AI.
Ten point six billion dollars is the market cap. I'd take you back to what just twenty twenty three was that when Adobe was planning to buy Figma for twenty billion dollars before the iPod everybody said, well, the regulatory pressure, it didn't work out Rasource. When the company went public, everyone was like, wow, it's so good. He didn't sell to Don'tfield didn't sell to Adobe because he won have only gotten twenty billion dollars. Market cap was way higher
after that. Now it's down to what ten and a half billion?
Yeah, day one was it fifty six billions? Okay, you look rebby smart for the day bypassing on a sale and then throw the baby out with the bathwater. But also just uncertainly again, AI is going to change the way we do everything. Then who cares if you can vibe code? I know you're a big vibe.
I tried, I tried filed. The vibes were not good vibes. Bad vibes all right.
Some big numbers though from them in terms of what they're expecting, so you can see the surprise. I will say twenty two percent of the float is short. So yeah, you wonder how much short covering. Let's go to the big IPO today, Your world.
My world, Sarah bros. The AI chipmaker ticker CBRS raise five five point five five million dollars, biggest ever semiiconductor. IPO stock opened up eighty nine percent, closed up sixty
eight percent at one point, and doubled. This is a company that bills itself as an Nvidia competitor, and it's been interesting to track because they try to go public a few years ago and a fraction of that, raise money privately, ad a fraction of that, and now based on their outstanding share sixty seven billion dollar market cap.
Yeah, that's a pretty big company out of the gate. Well, see, I'm so curious to see what happens in tomorrow's trade and then into next week. Let's go to a company, big tech company, well known name, been around for a long time since go had to kind of do some a little bit of I don't want to see transformation, but really think about kind of AI right, and that seems to be very evident in the latest joarnings.
It's a company that went public back in nineteen nineties, a new company, but rallying thirteen percent, closing in an all time high if you bought it at ipo price and held you up about one hundred and eighty five thousand percent. But really, as you mentioned, rallying based on their forecast, rebuilding themselves leaning into the AI infrastructure. So we've been seeing pretty much any company under the sun
trying to sell that story. And it does seem like Cisco as at least to some extent, hitting the nail on the head, is leaning into being a network equipment company that is built for the future of AI as opposed to the company that built the Internet.
Some of it that many titles we should have given in more time.
What's wrong with us?
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Mm hmm