00:00Yeah, I found a few of them for you. So Gemini Space Station is up 36%.
00:05This is the crypto exchange founded by the billionaire twins, Tyler and Cameron Winklevoss.
00:10The stock is down 47% year to date. So the twins made a $100 million, what they're calling
00:16strategic investment into their money losing crypto exchange. That's how they are. That's
00:21cracking up, Tom. That's how they're framing it. So the investment was made at a price of $14 a
00:26share of the company's class A common stock, which, by the way, last traded at around five
00:31and a quarter a share with this being paid in Bitcoin. They say they believe the market,
00:37you know, is just undervaluing and underestimating their company.
00:40So on a lazy May afternoon at the Duke MBA program, when someone says strategic investment,
00:48translate. Yeah, exactly. But we'll see. One of these things, Elon Musk and others are saying,
00:53let's put our data centers out in space. You don't have to worry about calling them out there.
00:56Yeah, exactly. But, you know, Gemini went public in September. I was looking back at this
01:00in since the beginning of this year, they've let go of 30% of their staff. So they've been hit
01:05with
01:05a lot of the crypto exchanges as Bitcoin, which we know is the bellwether, has taken a big hit.
01:09All right. Let's move on to ice cream because it is Friday after all, and it's starting to feel
01:13like spring outside. At least I think I'm afraid to say it out loud. So Magnum ice cream shares up
01:1822%
01:20the most since the stock's December listing. Remember, it was spun off from Unilever
01:24on three exchanges, the Amsterdam, London, and U.S. exchange. So Magnum ice cream trading volume
01:30rising to almost five times the 20-day average for this time of day right now. To give you an
01:35idea of the excitement here, Reuters reporting that private equity firms, including Blackstone,
01:40are thinking about making a bid for the ice cream maker. The stock is currently valuing this company
01:45at $10.7 billion. And their brands, we all know, I looked into this, Ben & Jerry's,
01:52Cornetto, Breyers, and Klondike. Remember? Yeah, the Klondike bar. You got one of those Klondike
01:56bars. Yeah. Good deal.
01:59Reuters says the firms are monitoring, you know, the share price, and they're waiting for summer
02:02sales before deciding whether to pursue a bid. I don't know what that means. What do you mean
02:06waiting for summer sales? Like ice cream goes on sale in the summer?
02:09I don't know what percentage you do. Is it like 60, 70, 80% of ice cream sales? I don't
02:14know what
02:14that number is.
02:15Oh, I get what you're saying. Not that it's on sale. It's like, oh, I got it.
02:18It's like the Christmas selling season for a retailer.
02:20Thank you for that.
02:20I think. I'm not sure.
02:21I think you're right. All right. Let's move on to Cerebris because this stock-
02:25Is that how you pronounce it?
02:26It is. We checked it out. We called.
02:28How do you like that? Call the company. How do you say your name? Like Cerebral.
02:31Yes.
02:32So Cerebris, shares soaring. They soared 68% in their first day of trading yesterday, and that
02:39was after pricing the offering at $185 a share. That was 48% above what the company originally
02:44thought it was going to get.
02:46That's a bad trade.
02:47So Paul, is somebody put in the timeout chair if they don't price it somewhat correctly?
02:52Absolutely. Absolutely, in my opinion. Now, a lot of these tech names, they like to see
02:56these big, big pops, but to me, that's too much. That's too many dollars left on the table.
03:02Yeah.
03:03But let's be honest. When you come up with a price, it is an agreement between the issuer
03:07and the underwriter.
03:08That's right.
03:08So you signed off on it. I signed off on it. But you signed off on it because I, the
03:12banker,
03:13told you this is the right price.
03:14Yeah.
03:14Most times.
03:15The stock is down about 4% here in the pre-market, so maybe no surprise.
03:18It is valued at 134 times revenue for the past four quarters. Just to put this in perspective,
03:25it's more than five times NVIDIA's multiple if you use the same metric.
03:28And NVIDIA is the leader in that space.
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