Hottest stocks from today's premarket 🔥

Stocks are aiming to rebound after a weak performance yesterday.                                                                                                                                                                                                                                                                                                                                                                                                                 May 08, 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 📈 Stocks barely managed to keep their win streak alive on Tuesday with modest gains. However, the Nasdaq fell just shy of flat and posted a thin loss for the session. - Dow [<0.1%] - S&P 500 [+0.1%] - Nasdaq [-0.1%] - Russell 2K [+0.1%] Futures are edging lower in early trading. S&P 500 contracts are currently down by about 0.2%. What to Watch Today: Disney’s earnings report is the most notable item on today’s schedule. The media stock’s financial results could provide insights into how economic uncertainty has impacted consumers’ spending habits on the company’s streaming services and movies. ["Perfect Storm" Brewing in A.I.]( An analyst has been quietly beating the pants off Wall Street for years. In 2020? He outperformed over 15,000 so-called "experts." His secret? Picking stocks that explode by 100%, 500%, even 1,000%. Now he's pounding the table on A.I., and says a "Perfect Storm" is brewing that could mint all-new millionaires. [Get the Details on this Unique Gold Stock HERE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🔎 Tesla Faces NHTSA Scrutiny Over Autopilot Recall The National Highway Traffic Safety Administration (NHTSA) is demanding answers from Tesla [TSLA] regarding updates to its Autopilot driver assistance systems, following a voluntary recall last December. This recall affected approximately 2 million Tesla vehicles in the U.S., aimed at enhancing driver engagement and attention while using Autopilot features. Deadline Looms 🕒 Tesla has until July 1 to furnish the NHTSA with comprehensive information regarding the modifications made to its Autopilot system. Failure to meet this deadline could result in fines of up to $135.8 million, as stipulated in a recent letter from the agency to the electric vehicle manufacturer. Safety Concerns 🚗 The recall, prompted by safety concerns, aims to address issues related to driver engagement while utilizing Autopilot features. Recent incidents, including crashes allegedly involving Autopilot, underscore the urgency of ensuring driver attentiveness during automated driving tasks. NHTSA Goals 📊 The NHTSA is requesting detailed crash data and records related to Tesla's engineering processes and safety protocols since the recall was initiated. This includes data, video recordings, and insights into Tesla's approach to safety defect detection and resolution. Organizational Changes 🔄 Tesla's Autopilot and vehicle-safety engineering teams are undergoing restructuring and downsizing, although the extent of job cuts remains undisclosed. Amidst these organizational changes, Tesla is under increasing regulatory scrutiny, with CEO Elon Musk's ambitious promises for self-driving technology facing heightened skepticism. Market Response 📉 Tesla's stock experienced a 3.8% drop following news of the NHTSA's demands, reflecting investor concerns over regulatory compliance and the company's future prospects in the evolving automotive landscape. Featured Earnings 💰️ - Uber Technologies [UBER] ... AM - Shopify [SHOP] ... AM - Emerson Electric Company [EMR] ... AM - Vistra [VST] ... AM - Liberty Media Corporation [FWONA] ... AM - Arm Holdings [ARM] ... PM - Airbnb [ABNB] ... PM - Energy Transfer [ET] ... PM - The Trade Desk [TTD] ... PM - HubSpot [HUBS] ... PM Economy 🏗 - Wholesale inventories [Mar] ... 10:00a Running Hot 🔥 Gainers - NeoConcepts [NCI] >> +9.87% - Safe & Green Development [SGD] >> +11.4% - Myriad Genetics [MYGN] >> +18.7% Decliners - Treace Medical [TMCI] >> (59.2%) - DoubleVerify Holdings [DV] >> (38.5%) - Zoominfo [ZI] >> (21.9%) Innodata [INOD] - Last Close: $6.74 Global engineering firm Innodata reported stronger than expected Q1 financial results this morning and raised its full-year revenue guidance. The company swung to a positive earnings of $0.03 per share after reporting a loss of ($0.08) per share a year ago. Revenues came inn at $26.5 million, increasing 40% from Q1 2023. INOD is up 24.0%, but volume is thin t round 125K shares traded so far. My Take: INOD began an upswing in early May, and this catalyst could throw more fuel on its recent rally. Repare Therapeutics [RPTX] - Last Close: $3.28 Micro-cap biotech firm posted a double-line beat on its Q1 financial results published in Tuesday’s aftermarket. Repare generated EPS of $0.30 per share against the Street’s $0.02 estimate. A year ago, the company reported a loss of ($0.83) per share. Revenues grew 822.9% YoY to $52.4 million for the quarter, easily topping the $38.4 million consensus. RPTX is up 19.7% on more than 1.5 million shares traded. My Take: Huge earnings beat for RPTX, but will it give the stock the launchpad it needs to pivot away from its recent trend line? Volume has been low but a modest positive trend appears to be forming. Enveric Bio [ENVB] - Last Close: $0.89 Enveric Bio has landed exclusive licensing deal with an undisclosed biotech company worth up to $61 million with sales & development milestones. The deal includes two patented breast cancer treatment methods that utilize cannabinoids in combination with chemotherapeutic drugs. Enveric is also eligible to receive royalties ranging from 2.5% to 10% on all future sales of the drugs. ENVB is up 15.7% on over 11.5 million shares traded. My Take: ENVB inked a good deal here, but it’s unclear when it will actually start generating cash flow from this arrangement. iSun [ISUN] - Last Close: $0.1320 Micro-cap solar firm iSun is surging in what appears to be a short squeeze. There hasn’t been any company-specific news since Monday, when Refinitiv/Verus resumed coverage on iSun with a “hold” recommendation. However, ISUN had a 30.3% short percentage as of Apr. 15th, and the sudden gains indicate the bulls are exploiting this weakness. ISUN is today’s top stock with an 80.7% gain on more than 36 million shares traded. My Take: ISUN has struggled as of late, but this short squeeze could help it break out. Watch for resistance around the $0.25 mark. 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. 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