A mixed close for the trading week 🎢

US indexes ended closed Friday's session just shy of the record-highs set earlier in the week.                                                                                                                                                                                                                                                                                                                                                                                                                 May 17, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 The market closed the week with mixed results after notching record highs earlier in the week. The Nasdaq posted a slight loss, while the Dow and S&P 500 edged higher. - DJIA [+0.2%] - S&P 500 [<0.1%] - Nasdaq [-0.1%] - Russell 2K [<0.1%] [Must-See: Elon's New Invention is Absolutely Insane]( When you [click here and see what Elon Musk’s new invention does](… And how it works… You will NOT believe it. You'll tell yourself this is just science fiction. But Elon just tested this in a real human… And the result was mind-blowing. [Get all the Details Here]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 Boaz Weinstein at the Bloomberg Invest event in New York, US, on Wednesday, June 7, 2023. (Jeenah Moon | Bloomberg | Getty Images) 🎯Activist Boaz Weinstein Takes Aim at BlackRock Funds Boaz Weinstein, known for his involvement in JPMorgan Chase’s infamous “London Whale” trading loss in 2011, has set his sights on index fund behemoth BlackRock. Fight for Rights 🥊 Saba Capital, Weinstein’s hedge fund, has outlined its strategy in a presentation obtained by CNBC, detailing plans to advocate for change at 10 closed-end BlackRock funds. These funds, according to Saba, trade at a significant discount to their underlying asset values compared to peers, a situation Saba attributes to BlackRock’s management. Push for Change 📊 Saba Capital aims to gain board control over three BlackRock funds and secure a minority slate in seven others. Additionally, it seeks to remove BlackRock as the manager of six out of the ten funds. Weinstein's Critique 🎙️ Weinstein emphasized the underperformance of the targeted funds, noting that nine out of the ten have incurred losses for investors over the past three years. He voiced his concerns on CNBC's "Squawk Box," outlining his belief that BlackRock's management approach contradicts its governance expectations for companies. The Argument ⚖️ Saba's campaign, dubbed "Hey BlackRock," centers on governance issues. The hedge fund accuses BlackRock of running the closed-end funds in a manner inconsistent with its own corporate governance standards Top Winners and Losers 🔥 Ipower [IPW] $2.89 (+97.9%) was upgraded from “neutral” to “outperform” by analysts at Zacks Investment Research. Cheetah Net Supply [CTNT] $10.80 (+44.0%) continued its hot streak after closing a follow-on public offering on Wednesday. Jiade [JDZG] $11.68 (+40.3%) extended its gains after rallying 104% on Thursday. It closed its IPO on the Nasdaq on Wednesday. Heart Test Labs [HSCS] $6.97 (+38.3%) began trading on a 1-for-100 reverse split-adjusted basis at the open of today’s trading session. Faraday Futures [FFIE] $1.65 (+134%) retreated after rallying more than 3,000% this week in an epic short squeeze rally. Amplitech [AMPG] $1.44 (33.0%) filed a non-timely 10-Q with the SEC, according to a late Thursday regulatory disclosure. That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS 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 Mobile Alerts Now]( [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. [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 [[beehiiv logo]Powered by beehiiv](