Can stocks stay hot after the long weekend? 🔥

The Nasdaq ended last week at record highs, but the road ahead could get choppy.                                                                                                                                                                                                                                                                                                                                                                                                                 May 28, 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 entered the long weekend on a high note, with the Nasdaq rallying to a new record high. - Dow [<0.1%] - S&P 500 [+0.7%] - Nasdaq [+1.1%] - Russell 2K [0.0%] Index futures are mixed in early trading, but S&P 500 contracts are up by 0.1% in early trading. What to Watch Today: The Nasdaq is hovering around a record high, so it could run into some resistance this week. However, a proper catalyst could help the index keep up its hot streak. With today’s minimal earnings & economic schedule, I’ll be keeping a close eye on the broader market’s performance. [[URGENT] 6 AI Stocks Set to Explode]( Louis Navellier, the legendary stock picker who spotted Microsoft at 39 cents and turned $1 into $41, has an urgent message for you. The AI market is on the verge of a massive boom, and he's identified six stocks that could deliver unprecedented gains. These are the same kinds of recommendations that have yielded returns like 25X on IBM, 31,000% on Apple, and 50,000% on Dell. [Access His 6 Picks Before They Take Off!]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 T-Mobile Moves to Acquire U.S. Cellular📱 T-Mobile announced its plans on Tuesday to acquire most of U.S. Cellular, including stores, spectrum, and customers, in a deal valued at $4.4 billion, involving cash and up to $2 billion of debt. Market Response 📈 Following the announcement, shares of U.S. Cellular surged over 7% in premarket trading, while T-Mobile shares remained flat. Expanding Coverage 🌐 T-Mobile aims to leverage U.S. Cellular's wireless spectrum to enhance coverage in rural areas and provide improved connectivity to U.S. Cellular customers across the nation. Customers will have the option to retain their current plans or switch to T-Mobile plans. Arrangements ⚙️ Under the agreement, U.S. Cellular will retain some of its wireless spectrum and towers and will lease space on at least 2,100 additional towers to T-Mobile. The deal is anticipated to be finalized by mid-2025. Continued Growth 📈 This move follows T-Mobile's merger with Sprint in 2020, valued at $26 billion, highlighting the company's ongoing growth strategy and commitment to expanding its market presence. Featured Earnings 💰️ - Futu Holdings [FUTU] ... AM - Golar LNG [GLNG] ... AM - Danaos [DAC] ... AM - Ituran Location And Control [ITRN] ... AM - Hello Group [MOMO] ... AM - Nano-X Imaging [NNOX] ... AM - Heico [HEI] ... PM - Cava Group [CAVA] ... PM - Box [BOX] ... PM - Joyy [YY] ... PM Economy 🏗 - S&P Case-Shiller home price index (20 cities) [Mar] ... 9:00a - Consumer confidence [May] ... 10:00a Running Hot 🔥 Gainers - Predictive Oncology [POAI] >> +40.8% - Pineapple Holdings [PEGY] >> +76.9% - NLS Pharma [NLSP] >> +14.9% Decliners - Marpai [MRAI] >> (41.5%) - Innovative Eyewear [LUCY] >> (34.9%) - Onemednet [ONMD] >> (19.1%) GameStop [GME] - Last Close: $19.00 Controversial meme stock GameStop is in the spotlight again after announcing a $933 million stock offering of 45 million shares priced at the market. The news appears to have given the stock a second wind after it surrendered most of its recent gains last week. GME is up 23.9% on over 5 million shares traded. My Take: GME has been on a wild ride the past two weeks, and it looks like it’s not done yet. Insmed [INSM] - Last Close: $22.00 New clinical data published this morning showed Insmed’s brensocatib met its primary endpoint in a Phase 3 trial in bronchiectasis lung disease patients. Inside said the therapy produced statistically significant results compared to placebo and achieved several secondary endpoints as well. The company plans to submit a New Drug Application with the US FDA in Q4, and it expects to launch in the U.S. as soon as mid-2025. INSM is up 136% on roughly 3.5 million shares traded. My Take: INSM appears to be on track for a full approval of this drug, which could deliver another catalyst down the road. Calliditas Therapeutics [CALT] - Last Close: $22.42 This morning, Calliditas’ board of directors recommended shareholders approve a USD$1.06 billion cash buyout offer from Asahi Kasei. The Japanese pharma company has offered to acquire CALT at 418 Swedish krona per American Depository share, roughly equal to USD$39.67. The acceptance period for the offer ranges from July 18 to August 30, 2024, and it’s subject to Asahi Kasei obtaining more than 90% of CALT shares. CALT is up 75.3% but volume is thin at less than 20K shares traded. My Take: CALT is getting a big boost off this news, but the gains line up with the proposed deal. However, if this deal falls through, it could experience a very sudden reversal, so be careful chasing after this one. Sharps Technology [STSS] - Last Close: $0.2143 Sharps Tech is rallying after announcing a series of agreements with Nephron after Friday’s closing bell. On May 20th, the company entered into a 5-year purchase agreement to supply Nephron with exclusive pre-filled copolymer syringes. The deal’s total value is estimated to be roughly $188.5 million. STSS is today’s top mover with a 195% gain on over 65 million shares traded. My Take: STSS has had a rough performance in 2024, but this sudden pivot could indicate the bottom is in. 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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