A crucial Friday for stocks 📈

Can stocks maintain their momentum into the weekend?                                                                                                                                                                                                                                                                                                                                                                                                                 March 22, 2024 | [Read Online]( Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let’s get ready to trade! Markets 📈 The market continued to edge higher on Thursday. Small-caps outperformed, while large-cap indexes notched fractional gains. - Dow [+0.6%] - S&P 500 [+0.3%] - Nasdaq [+0.2%] - Russell 2K [+1.1%] Futures are dipping lower in early trading. S&P 500 contracts are currently down by about 0.2%. What to Watch Today: Stocks have performed well this week, but the market still has concerns about the outlook for rates and the U.S. economy. If stocks can close out the week with another strong performance, it could extend its hot streak into next week. [Get of Cash…. RIGHT NOW]( (Ad) “Safe” investors who don’t get out of cash now could lose everything over the next six months. For the first time that I’ve ever heard of… a bubble is about to burst on a schedule. Yes, we know the exact date when everything is going to change in the financial markets. When the $6 trillion bubble pops, you want to be with them. The good news is, there’s a simple 3-step process to insulating yourself from this bubble. [Get Instant Access to the Cash Bubble Playbook HERE]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 DOJ Targets Apple in Major Antitrust Lawsuit The Justice Department has unleashed a significant antitrust lawsuit against Apple [AAPL], charging the tech behemoth with creating an illegal monopoly in the smartphone sector. This bold move alleges that Apple not only corners the market but also suppresses competition and innovation while keeping prices high for consumers. Filed in Federal Court 💼 Initiated in New Jersey's federal court, the lawsuit claims Apple exerts monopoly power with the iPhone, engaging in what's described as a "broad, sustained, and illegal course of conduct." According to Deputy Attorney General Lisa Monaco, Apple's practices have effectively choked the market it once revolutionized. Apple's Counter 🛡️ In response, Apple has dismissed the lawsuit as baseless, both factually and legally, and intends to "vigorously defend against it." The company is under fire for allegedly shaping its technology and business deals to extract more revenue from a wide spectrum of stakeholders, including consumers and small businesses. Additional Legal Challenges 🚨 Compounding Apple's legal woes, a U.S. judge recently rejected the company's attempt to dismiss a class-action lawsuit concerning the misuse of AirTag devices for stalking, further spotlighting the tech giant's contentious safety measures. Broad Coalition Against Apple 🤝 The lawsuit, joined by 16 state attorneys general, marks a continuation of the current administration's antitrust efforts against major tech players. Historic Stand Against Monopolies 📜 Echoing past actions against monopolistic practices, the Justice Department's latest legal battle with Apple is seen as a crucial step towards challenging the dominance of tech giants and encouraging technological advancement and competition in the industry. Featured Earnings 💰️ - Humacyte [HUMA] ... AM - Hyzon Motors [HYZN] ... AM - Sunlands Technology Group [STG] ... AM - AstroNova [ALOT] ... AM - Sow Good [SOWG] ... AM - Sanuwave Health [SNWV] ... AM - Star Equity Holdings [STRR] ... AM - Agile Therapeutics [AGRX] ... AM Economy 🏗 - Fed Chair Powell takes part in Fed listens event ... 9:00a - Fed Vice Chair for Supervision Michael Barr speaks ... 12:00p - Atlanta Fed President Raphael Bostic speaks ... 4:00p Running Hot 🔥 Gainers - Foresight Auto [FRSX] >> +29.5% - Garden Stage [GSIW] >> +33.9% - Griid Infrastructure [GRDI] >> +27.2% Decliners - Inspire Tech [ISPR] >> (25.9%) - Genius Group [GNS] >> (11.9%) - Lululemon [LULU] >> (13.0%) FedEx [FDX] - Last Close: $264.85 The shipping giant just reported stronger-than-expected fiscal Q3 earnings and launching a $5 billion share buyback program. FedEx’s $21.7 billion revenue figure missed the $22.057 billion estimate, but its EPS of $3.51 narrowly edged out the $3.4622 estimate. The company also posted improve margins from its express unit and announced the aforementioned share buyback program. FDX is leading the S&P 500 with an 11.1% gain on more than 100K shares traded. My Take: FDX missed the Street’s revenue target, which is always a concerning sign, but the share buyback seems to have swayed the market. Nova Lifestyle [NVFY] - Last Close: $1.85 Nova Lifestyle is running hot after a new investor reported a passive stake in the tiny company earlier this week. In a Schedule 13G filing released after Wednesday’s close, ATS Brand reported a 12.9% stake in Nova Lifestyle. Shares jumped out to a 21.7% gain on Thursday following the ATS Brand’s SEC disclosure, and NVFY is extending its rally in today’s premarket. NVFY is a top mover with a 68.5% gain on over 5.5 million shares traded. My Take: NVFY has a $3 million float, so it could be a pump & dump target. Don’t get caught holding the bag here. Outlook Therapeutics [OTLK] - Last Close: $7.04 European regulators have issued a positive opinion on Outlook Therapeutics’ ONS-5010 as a treatment for Wet AMD. The positive opinion represents a significant milestone for the company, and clears the way for the drug’s debut in the European market. Outlook is assessing both direct commercialization of the product and partnering in Europe on a country-by-country basis. OTLK is up 43.6% on more than 3 million shares traded. My Take: OTLK is currently sitting just above a key resistance point that sits around $9.50 per share. If it can hold onto its gains, it could find new support at this level. BIOLASE [BIOL] - Last Close: $0.15 This tiny biotech is breaking out after reporting stronger-than-expected earnings results in Thursday’s aftermarket. BIOLASE reported a Q4 net loss of $(1.76) per share, eclipsing the Street’s estimate of a $(2.55) loss by a significant margin. Top-line sales came to $13.49 million, just shy of the $13.55 million consensus estimate. BIOL is up 46.3% on roughly 38 million shares traded. My Take: BIOL experienced a major influx of buying volume over the past two days, and shares are still running strong. However, it has a very small float, so expect volatility. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign up for SMS]( Join Insider NOW to access to this report! [Get Instant Access Here]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America