Live Nation Sinks, Hims & Hers Surges, Allbird Soars - podcast episode cover

Live Nation Sinks, Hims & Hers Surges, Allbird Soars

Apr 15, 20263 min
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Episode description

On this episode of Stock Movers:

- Shares of Live Nation (LYV) sank on Wednesday after a jury found that the Ticketmaster parent had acted as an illegal monopoly over the ticketing industry, according to reports. Live Nation (LYV) did not immediately respond to a request for comment. Shares were down 6.3% on Wednesday

- Shares of telehealth firm, Hims & Hers (HIMS) climbed as much as 11% on Wednesday after HHS Secretary Robert F. Kennedy Jr. said the FDA is seeking to remove 12 peptides from Category 2 restrictions.

- Allbirds (BIRD) shares are surging Wednesday morning after the company said it signed a definitive agreement for a $50 million convertible financing facility and plans to pivot into AI compute infrastructure following its previously announced sale of the Allbirds brand and footwear assets to American Exchange Group. The company's stock went up as much as 461% after the opening bell in reaction to the announcement.

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Transcript

Speaker 1

Bloomberg Audio Studios, Podcasts, radio News.

Speaker 2

The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.

Speaker 1

Carol Masser, Timstanevik. Let's get a look at some stocks on the mood today. Back with us Bloomberg News Equities reporter Avalon Purnell.

Speaker 3

We got a talk Live Nation.

Speaker 4

Oh we sure do. I will say one second.

Speaker 3

Tiggers lyv es.

Speaker 1

There was a headline right that broke kind of late, and we did definitely see some movement in that name. I mean, this is one that has been dealing with some litication for some time.

Speaker 5

Yes, you're absolutely right, And as you mentioned, they a jury found that they potentially illegally monopolized live events and also overcharge customers. And that's kind of interesting considering the DOJ did decide to settle this case within the first week, but the States decided to keep going. And now we will see it's still unclear as to what exactly Live Nation will actually have to pay or potentially even spin off ticket Master as an example, but.

Speaker 6

Kind of wild it is, But judge will decide.

Speaker 4

The judge will decide too, I think.

Speaker 6

Will have to agree. We had Jenry and she was talking about some potential ways that this.

Speaker 1

Ends, and somebody went on a little bit of a rant about tickets and buying tickets.

Speaker 3

I don't know what her name is.

Speaker 1

Okay, all right, let's get to hymns and hers take her hims.

Speaker 5

Yes, it jumped fourteen percent into the clothes, and that's after US Health Secretary RFK Junior said that the FDA plans to loosen some of the regulations around peptides, which, at least for people who are into wellness and biohacking, that's probably something they're cheering.

Speaker 4

Something you take.

Speaker 6

You have no idea what we're talking about.

Speaker 4

You wait, peptides.

Speaker 1

Isn't that something like all the cosmetic stuff.

Speaker 6

No, well, I see it like in my Instagram feed about like weight, bodybuilders and.

Speaker 4

Stuff like that.

Speaker 5

Yes, it's definitely more of like helping with muscles.

Speaker 4

There are peptides for sick.

Speaker 3

Yeah, there's Peptides are chains of amino.

Speaker 6

Acids obviously everyone that act.

Speaker 3

As building blocks for protein psychology and a list.

Speaker 6

How do you know so much about peptides already?

Speaker 3

Thank you doctor Google.

Speaker 1

Okay, and real quickly, what do you want to do.

Speaker 4

Yeah, we can all start about all birds.

Speaker 5

That's tick her Bird serge five hundred and eighty two percent into the close for its biggest one day jump on record. That's after deciding that it's going to pivot to AI. See you later, sneakers. And I guess most importantly, I thought that this is kind of interesting that they're not the only company making a one eighty. I mean, you all saw Algorithm holdings earlier this year going from karaoke to AI.

Speaker 4

I guess it's a trend.

Speaker 3

It's called the business plan change right, all right?

Speaker 1

You rock avalon Parnell Bloomberg News Equities Reporter.

Speaker 3

Check out our Stock Movers podcasts, folks.

Speaker 1

They are five minute episodes of the biggest winners and losers in the stock market.

Speaker 3

You can find it on Apple, Spotify, anywhere we get your podcasts.

Speaker 2

The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.

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