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I'm Jim Stenovic along with Carol Masser. Sounded like I was asking a question there, I know. I'm Tim steenavek' Tim, I'm Kim stenebec.
What is it?
Akerman? Yeah, San Diego, I'm I'm what was it?
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I'm Ron Talia with Talia helped us out. Thank you, Thank you, Talia.
Man Tuesday Brain.
I'm Tim Stataveg along with Carol Masser. Let's take a look at some stocks on the move today. We're joined by Bloomberg News Equities reporter Jordan Fitzgerald. She's here with us. Jordan, You've got a lot to choose from, starting with Tesla.
It has not been a boring day. And if there's something to say on Tesla, someone on Twitter is certainly saying it.
What are you saying about Tesla?
Yeah. Tesla closed down about four and a half percent today after the company announced these long awaited, allegedly affordable versions of its Model Y and Model three cars, and it just didn't seem to meet the cut. Investors were a bit disappointed by just how little the discount was. And they've also cut some features that people expect of Tesla. And they had an analyst tell me it's not, you know,
serving on price, it's not serving on performance. So who are these cars for and can they help Tesla's bottom line?
So interesting. We had a great discussion with Steve Mann on our program today. Check it out on our podcast feed if you missed it. He's Bloomberg Intelligence autos analyst. And my question in was like, Okay, are they selling these at cost like Jeff Bezos did with the Kindle initially to get people to buy the books, because that's high margins, So if you know, are they going to
be selling the autonomous driver software and stuff? And he said, it's not just Tesla love, that's like the ultimate thing. Services would be really great for any of these companies.
Yeah, and Tesla is really just looking for cash to fund its broader ambitions. Like Tesla wants to be more than an EBAT company. It wants to, you know, build robots that you keep in your house. It wants to be your go to robo taxi. And in order to drop the capital that will not only achieve these goals, but by achieving these goals allow Elon Musk to reap the full benefits of his trillion dollar pay package that's up for vote in November. Tesla really needs the cash to fund these projects.
I just want the boring company to create another big hall out to my home just outside New York City so that commuting is a little bit easier.
Yeah, that's not going to happen. We're not going to get political here, but there is a thing called the Gateway Project. I don't know if you're familiar. Yeah, yeah, that funding is not Yeah, okay, so Tesla on your radarf.
Hey, a girl could dream, she can, she can.
And that commute leaves a long time for dreaming.
I know, I know, but you know again, I'm an optimist. Ford could use some optimism about the autumn like it right now.
Ford certainly needs a bit of help. So earlier in September, there was a fire at an aluminum plant that supplies metal to Ford, but it wasn't until The Wall Street Journal reported last night that this would actually have a pretty significant disruption effect on the company, that the stock really took a hit, and so Ford saw it's worst day since February.
Today, it's I.
Mean, we think about the fragility of supply chains, right, this is not this is a Ford story, but it's a company that Ford uses. Toyota also uses this company as well for raw materials.
Or Yeah, and on the supply chain, if Ford can't make as many cars, that means they're getting fewer supplies from other suppliers. So the whole you know, auto supply sector was really not happy with that news today.
I mean, listen. City said it's too soon to cut forth quarter North American light vehicle forecast, but that the fire could present a supply risk for the period. Slid productions also risked to suppliers, according to City, So we're gonna have to keep an eye on this one.
Ford shares falling six point one percent, the most going back to February.
Ford ticker All right, So app Lovin didn't get so much love yesterday, but it did today.
Yes, app Lovin is an interesting case. The stock actually had a crazy third quarter. It was almost it over doubled in value across the third quarter. And I think people were really spooked by this headline yesterday that the SEC is probing the company over its data practices, and you know, there's a lot of scary words there. You know, you never want to hear SEC. You never want to hear the word probe. You rarely want to hear the word Lovin.
Out a g and.
I think the market really took that seriously. But after people got arrest.
Yes, we're not why the SEC is maybe just a bit of a just a bit of a personal issue.
But after people took a step back and remembered that app Lovin had this giant surge over the past few months. There's actually a lot of strong fundamentals left at the company, and people saw a dip and they chose to buy it.
Well, you also had an analysis coming out right and talking about was it City that talked about it and basically said bye on the weakness, And they talked about things that like the regulator SEC is not officially cus the company wrongdo it, right, So there's some things.
Innocent until proven guilty. It's an accusation, it's not an allegation.
Yeah, there's no eight cot K filing, right, So maybe the firm does not necessarily view the probe as a material risk, right. So that's what we got.
From City Jordan Fitzeralchi is Bloomberg News Activity supporter, and she will also consult with you on the name of your company.
Right app Lovin without a G.
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