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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 Jim Stenebeck along with Carol Master. We are joined by Bloomberg Television Markets corresponding Normal Linda for some stocks on the move.
Hey, Noile, there's a lot that we could talk about today. I do want to kick things off with SpaceX, because, of course, this is the name that we've been talking so much about, following about sixteen percent for its third straight day of declines, this of course meaning that the stock shed hundreds of billion dollars in market value. Now this comes after SpaceX said that it's selling IG bonds
for the very first time. Of course, this really sparking concerns about the idea of a massive borrowing spree that we've seen from a lot of these major tech companies, and whether or not we're actually going to be able to see some sort of return on this investment when we think about all the money being borrowed.
Here, I have to say we had a voice our own Robert Schiffman talking about he follows the tech companies on as a you know, from the credit perspective, and you know, being very positive about this spend by certainly a company like SpaceX the money needed to do the build out. But it's also just, I don't know, he was just incredibly optimistic about it and these companies getting that investment grade rating from the ratings companies, you know, making it doable, and investors being interested.
Just a reminder, was one thirty five for the IPO price. It's still up fourteen and a half percent at one fifty four sixty from that IPO. But yeah, like Nora said, three days in a row of declines from that high of yeah, two hundred one dollars eighty.
You know what I'm thinking about August seventeenth when they report earnings.
Right, what I thought it was pizza Monday.
No, it's Monday.
Not It's not pizza night tonight, just Monday night.
Let's go to Lucid Group.
But yeah, a name I haven't talked about in a while. Take your LCID. The stock is down falling more than three percent on the day, down three point seven percent to be more specific. The ev company slashing its US workforce by eighteen percent. Not only that, the company also eliminating its CO position, so chief offered operating officer position. That also being mixed. And the company's really been struggling so far this year, down about fifty one percent year
to date. Just a lot of stuff going on here, and it seems that though investors are not really liking it.
Eighteen percent shedding now, but it cut twelve percent back in February. It just adds to the concern. The company had about nine thousand workers as is December thirty first, suggesting the two rounds of layffs may have a limited about twenty five hundred employees.
Like who's left? Uh yeah, I have to say people who've been buying cars are in my world it feels like they go for a hybrid rather than an EV. At this point, I hear what about do that step?
Yeah, I hear that a ton. I do. Want to end with the stock pretty small name, but making a massive move on the day. That is the story s Getty images ticker g e t y, the stock scaring one hundred as much as one hundred and forty five percent intra day but ending higher by ninety percent on
the day. That is the best day that we've seen since July twenty twenty two, and it's just really interesting, especially of course, is coming after the announcement of a deal with Open Ai and a name like that, You're going to see a stock like this.
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