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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Time for stocks on the move actually.
Is belly.
What are your favorite movers and shakers as we reach the end of our day. There's some interesting moves that I wouldn't think would be going the direction they have been going today.
The biggest shaker, of course, is SpaceX. I think everyone wants to talk about this. And shares decline for the first time since it's record IPO, so it's not a three day winning streak. In those three days it gained as much as fifty percent, and now we saw pullback just five percent. But still, of course it's SpaceX. You're stopping.
It's inevitable, though, I.
Mean exactly, it's a voltile session, and I mean earlier today we saw the stock pop six percent, so I mean, sure we have a pullback of five percent. To your point, we do have a manager quoted in the story saying it's not that big of a deal. I would be more surprise or panicky, of course if it was a bigger drop. But you know, I mean, I guess the big thing is the decline made them fall back below
Amazon's market cap. So I mean, you know, yesterday everyone's making a big deal about how SpaceX is above Amazon and briefly Microsoft, and now it's below Amazon. But it's just the sixth largest company, you know, just six It's it's not a big.
Cash We're going to be fine. Really, they're going to be fine.
And again one important point though, I mean, we know that the shares available to trade is a small portion because of the float and all that weedy thing. So that's probably why it's not like all of SpaceX, all of its nearly three triller market cap can be traded. So that's also one thing. Ticker is SPCX.
What else you got?
CarMax ticker KMX shares drop nearly nine percent after its same story sales and used car profit declined for a fourth straight quarter. So this raised a lot of questions about the durability of its turnaround effort. The stock is gained thirty five percent this year, though, but it's still down around two third since it's twenty twenty one high. So it was big during the pandemic for the meme stock era, so it was one of them.
That's really interesting to me because I know we're in New York now where people don't have cars, but like more of them, I don't either, but I did, and I did buy a car at CarMax, and everyone I knew a car CarMax. Yeah, there's the car vending machine. No, no, that's Carvana Carbon that's wait.
How do you feel now that you don't have a car?
I miss my car. I don't miss trying to park my car, but I do miss just being able to jump in the car and leave the city. However, I'm subwaying It's okay. Yeah, I actually rented a car this weekend and it was very expensive.
Oh really, yeah it wasn't you know.
It's not as easy as just yeah, I just rent a car like it was a pretty large check. Used cars are still very expensive, yeah, Exactually, I wonder if it's why Carmacks is struggling little bit, because people are holding onto the cars that they've got. They're not buying new, even new used at the moment.
That's why I stick it to my two ninety one way metro fee deal.
It's a good deal.
Okay, one more stock.
I'm excited about this ticker is a bird. It's smart Bird. It used to be all birds, and just for the two of you, Oh, this is all alvert sneakers. Our listeners cannot see it. It's a ballet flat. That's all birds.
I love the glorious Salawa.
I really like it. I have it in two colors. So when I saw that they rebranded in smart Birds, I was like, what anyway? So the stock rallied forty seven percent. They were formerly known as Alberts. As I said fifteen times, this is the biggest intro day gain since April fifteen. So we all know it's a shoemaker turned AI firm. I mean, who has not turned into an AI firm. They also made an announcement that they appointed Nadia Carlston as their president and CEO and Lily
Yan Hughes as board chair. So smart Bird, smart Bird. Now, I guess it's struggling just like many other companies, and they're trying to capitalize on the AI frenzy, you know, trying to remember in the dot com everyone wanted a dot com in their name. I'm not saying that this is what they're doing. I'm sure they thought about it well, but it's hard to ignore that. I mean, the hot thing right now is AI and they're trying to be AI.
This one confuses me a little bit because we are starting to see a cooling off on an investment in places where the software side is not as essential as other places. Right, Like, yes, Mendeep Singh introduced me to the phrase disintermediation. But basically, if they can pull you out easily, that's going to impact your stock. So if you're not crucial, it's not Maybe I know it's buzzy and exciting, but maybe not the best way to pay
your companies. So, like, what are they providing that other non shoe brand turned AI companies.
I think it remains to be seen. Before now investors are probably celebrating. That's why you see shares gaining fifty percent in double digits. Yeah, I know, So now I don't know what am I going to call my shoes now when someone asks you have nice shoes, you can.
Call they're cute. Just here, thank you, They're cute.
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