Meme stocks are back in season 😎

The meme stock that started it all is leading today's session after a simple tweet...                                                                                                                                                                                                                                                                                                                                                                                                                 May 13, 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 ended last week with mixed results. The Dow and S&P 500 notched minor gains, while the Russ2K and Nasdaq fell short. - Dow [+0.3%] - S&P 500 [+0.1%] - Nasdaq [<0.1%] - Russell 2K [-0.6%] Today, futures are ticking higher in early trading. S&P 500 contracts are up by 0.2%. What to Watch Today: Stocks are looking to start the trading week on their strong foot, but Monday’s uneventful schedule doesn’t provide much in the way of potential catalysts. However, we could see some jostling as traders position themselves ahead of Wednesday’s CPI inflation report. [Federal Gov't Adopts Radical New Tech – Forecast Growth 24,290%]( The Federal Reserve, White House and US Treasury are in the middle of a nationwide technology rollout. 41 American banks are already involved. But that number could soon snowball by 24,290%. [Here's three ways to capitalize on this wave of adoption]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 🤖 SoftBank's Arm Ventures into AI Chip Market SoftBank Group's subsidiary Arm Holdings [ARM] is poised to enter the artificial intelligence chip market, with plans to launch AI chips as early as 2025. The U.K.-based chip designer, majority-owned by SoftBank, intends to establish an AI chip unit and develop a prototype by spring 2025, followed by mass production slated for fall of the same year. Strategic Partnerships 🤝 Arm is in discussions with contract manufacturers, including Taiwan's TSMC, to facilitate production of the AI chips. This move underscores SoftBank's commitment to capturing a significant share of the burgeoning AI chip market, leveraging its expertise in chip architecture design. Financial Commitment 💰 The initial development costs for the AI chips are anticipated to be substantial, potentially reaching "hundreds of billions of yen." However, Arm aims to recoup these expenses through mass production and eventual spin-off under SoftBank's umbrella. Strategic Vision 📈 Arm's shares have witnessed a remarkable surge of nearly 45% year-to-date, reflecting investor confidence in its strategic initiatives and market potential. SoftBank's visionary leader, Masayoshi Son, is spearheading the company's AI ambitions, with plans to invest significantly in enhancing computing facilities for generative AI. Expansion Plans 🌍 SoftBank envisions establishing AI data centers powered by homegrown chips across key regions, including the U.S., Europe, Asia, and the Middle East, by 2026. This expansion aligns with SoftBank's overarching goal of maintaining a leading position in the AI revolution. Upcoming Earnings 📊 The announcement coincides with SoftBank's impending earnings report for the fiscal year ended March 31, highlighting the company's strategic diversification and growth trajectory amidst evolving technological landscapes. Featured Earnings 💰️ - Tencent Music Entertainment [TME] ... AM - Fortrea Holdings [FTRE] ... AM - NET Power [NPWR] ... AM - Huya [HUYA] ... AM - Talen Energy [TINE] ... PM - StoneCo [STNE] ... PM - Intercorp Financial Services [IFS] ... PM - Agilysys [AGYS] ... PM - Mach Natural Resources [MNR] ... PM - NCR Atleos Corporation [NATL] ... PM Economy 🏗 - None. Running Hot 🔥 Gainers - Nautilus Robotics [KITT] >> +25.5% - Mink Therapeutics [INKT] >> +15.5% - Aadi Bio [AADI] >> +20.7% Decliners - MacroGenix [MGNX] >> (67.7%) - Greenwave Tech [GWAV] >> (30.7%) - Progyny [PGNY] >> (25.3%) GameStop [GME] - Last Close: $17.46 Meme stocks are back in season. GameStop is surging after an X post from the man who inspired the epic short squeeze of 2021. “Roaring Kitty” posted a meme that indicated he’s getting serious, and it was his first post on either Reddit or X since 2021. GME has gained 62.1% over the past month, and its short rate was sitting at 24% as of April 30th. Shares are getting another big boost in today’s premarket. GME is up 36.4% on more than 8 million shares traded. My Take: Meme stock rallies can deliver big gains if you get in at the right place at the right time. However, don’t get greedy because you could be the one left holding the back if you sit on your position too long. CareCloud [CCLD] - Last Close: $1.26 This tiny healthcare tech company disclosed the details of an unsolicited offer of interest to acquire the company for $5 per share received on March 4th. The deal would also pay $25 apiece for CareCloud’s 8.75% Series B preferred stock, but made no mention of its Series A stock. CareCloud’s board has declined the offer in its current form but has retained an investment bank to evaluate its options. CCLD is up 46.8% on just under 1 million shares traded. My Take: This deal would’ve paid a massive premium over CCLD’s most recent closing price. I am shocked the company didn’t accept it. Tevogen Bio [TVGN] - Last Close: $0.9845 Tevogen has entered into a binding term sheet with an existing investor to secure up to $50 million in additional financing. The company says the cash injection will support clinical trials for ExacTcell™ and “bolster a financial path to positive cashflow.” TVGN is a top mover with a 50.3% gain on over 7 million shares traded. My Take: If TVGN’s pipeline lives up to expectations, there could be more catalysts ahead for this overlooked biotech. AC Immune [ACIU] - Last Close: $2.31 AC Immune has entered into an exclusive, worldwide option & license agreement with Takeda Pharmaceutical [TAK]. The deal includes license for AC Immune’s immunotherapies, including its Alzheimer’s disease drug candidate, ACI-24.060. AC Immune will recent $100 million upfront under the terms of the deal, and it could qualify for up to $2.1 billion in additional milestone payments. ACIU is up 44.5% with more than 7 million shares changing hands in today’s premarket. My Take: Solid licensing deal for ACIU, but the stock has really struggled this year. I question whether it will be enough to fuel a pivot into a more established uptrend. 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]( [Privacy Policy]( | [Advertiser Disclosure]( [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. 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