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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's get to some stocks on the move on this Wednesday. We're joined by Bloomberg News Equities reporter A Natalia Kenny Javich. She joins us here in studios, So let's get to it. Tesla's on your.
List, Tesla's on my list. It was one of the biggest outperformers today the takers, of course, Tsla the stock is up by three point three percent ahead of expected quarterly delivery numbers. Tesla is expect supposed to publish them tomorrow. Bloomberg compiled analysis from different analysts and it looks like Tesla delivered around four hundred and forty thousand vehicles globally. That would be a five percent drop of from a year ago. That would also be a third conc ecuative
quarter of declines. However, that would still be better than a decline of thirteen percent that we saw in sales during the first six months of this year. Of course, many headwinds include the end of this consumer ev text credit, some backlash around Elanmusk's politics, and globally, we see that
sales in China and Europe are moving down. However, guys, we should keep in mind that September might not be the best month to represent because we saw a big jump in TV sales as some customers wanted to buy electric vehicles ahead of this expiration of EV text credits. So anyway, we'll see how this plays out.
Okay, Tesla on your list. Also on your list this afternoon, Neptune Insurance Holding, I saw this one moving today. We have some really cool reporting around what's happening here. Yes, so this is our household name. Yes, this is the IPO story.
This is an insurance company, this is supposed to be and it is the six insurance company that went public this year. So we see a pretty big movement in this area. So shares jumped twenty four percent today. The IPO price was twenty dollars per share clothes at twenty four eighty the company raised almost three hundred and seventy million dollars. It gives it valuation of three point four billion dollars. So of course everyone uses AI right now.
So for Neptune, the stories that has AI driven underwriting agent that scuants all possible quotes and give the best price in four customers. So we'll see how again. But insurance companies did pretty well after IPOs this year.
I don't understand this. I have flat insurance, I have to have it. I have to have federal float insurance. I am curious about this one.
I will say all point out I can buy.
From these guys.
They are not on the writers themselves, but they provide quotes and.
Huh yeah, this so as a platform to connect you.
Yeah so, but europ absolutely right. I didn't mention this is specifically for this niche. This is a flood insurance company. This is why they have this name.
I will point our just listeners and viewers to the story that came out today Dylan Sloan writing about insurance executives who've become billionaires in the risky Florida market. It talks about a trio of insurance executives from two different companies who've minted billion dollar fortunes by betting big on a risk that few others are willing to touch, which is Florida's volatile property and casualty market. Check it out.
Did they pay off when things go a straight Hey, yeah, okay, tbd, TBD. Let's get your third name.
The third name is Fermi. This is another IPO story, the tickets Frmi. The stock is up by fifty four percent today. Again it's a very strong trading debut. The IPO price was twenty eight dollars per share close at thirty two point five. This is the Real invest Real Estate Investment Trust founded by the former US Secretary of n Rick Perry. So this is your AI infrastructure, real
estate and power story. So we know that this company has data center campus and it hopes to of course get more hyperscalers and data center that could use their facilities. Expect to have one giggle out of power online by the end of next year, and then about eleven gig outs of power by twenty twenty three.
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.