Futures dip in early trading 📉

Stocks are in a holding pattern ahead of two key events scheduled for tomorrow.                                                                                                                                                                                                                                                                                                                                                                                                                 June 11, 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 📈 U.S. indexes edged higher to start the trading week. Both large and small-cap indexes posted similar gains in what was a rather quiet trading session. - Dow [+0.1] - S&P 500 [+0.2%] - Nasdaq [+0.3%] - Russell 2K [+0.2%] Futures are down in early trading. S&P 500 contracts are currently showing a 0.3% decline. What to Watch Today: I expect another “quiet before the storm” trading session today. Tomorrow’s session will feature the May CPI report, and we’ll hear from Federal Reserve policymakers as the central bank wraps up its monthly meeting. Both of these events could have a significant impact on tomorrow’s trading session, so I expect we won’t see a big move today. Stocks seem to be in a holding pattern ahead of these big news events. [This Stock Could Pull Ahead in a Crucial Growth Market]( A tiny stock could be positioning itself to dominate the up-and-coming domestic lithium market ahead of a potential super boom in demand. Studies estimate 400 new mines are needed within the next 11 years to meet surging demand for TVs and energy storage batteries. This company has potential to be a powerhouse in the growing domestic lithium market, and there’s still time to get in early. [Click here to learn more about the company]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 Elon Musk Threatens Apple Device Ban Over OpenAI Partnership 📱 Yesterday, Elon Musk said he would ban Apple [AAPL] devices from his companies' premises following Apple's integration with OpenAI. Musk expressed concerns over security and privacy violations, labeling the integration as "creepy spyware" and accusing Apple of neglecting user protection. Musk's Critique 🔍 In a series of posts on X, Musk criticized Apple's collaboration with OpenAI and questioned the company’s ability to safeguard user data. He condemned the integration of OpenAI's ChatGPT chatbot into Apple's voice assistant Siri and warned of potential security breaches. Apple's Response 🍏 In response to Musk’s comments, Apple asserted that the integration with OpenAI is optional and that the company prioritizes user privacy. However, Musk remained unconvinced and doubled down on his insistence that Apple's involvement with OpenAI poses a significant risk to user security. Threat of Device Ban ⛔ In a direct challenge to Apple CEO Tim Cook, Musk threatened to ban Apple devices from his companies' premises unless Apple discontinues its partnership with OpenAI. He emphasized his commitment to protecting user privacy and maintaining stringent security measures within his organizations. Background on Musk and OpenAI 🤖 Musk's involvement with OpenAI dates back to its founding in 2015, but he distanced himself from the company in 2018, citing diverging priorities. In fact, he has been somewhat critical of OpenAI in recent months. His latest venture, xAI, aims to rival the AI provider with products like Grok. Implications and Fallout 💥 Musk's outspoken criticism underscores growing tensions between tech titans over AI ethics and data protection. The fallout from this conflict could have significant implications for both Apple and OpenAI, as well as broader discussions surrounding privacy and AI governance. Featured Earnings 💰️ - Zeekr Intelligent Technology ZK] ... AM - Academy Sports And Outdoors [ASO] ... AM - Motorcar Parts Of America [MPAA] ... AM - Yunji Inc. ADR [YJ] ... AM - Oracle [ORCI] ... PM - Caseys General Stores [CASY] ... PM - Mama's Creations [MAMA] ... PM - Vistagen Therapeutics [VTGN] ... PM - PetMed Express [PETS] ... PM - Streamline Health Solutions [STRM] ... PM Economy 🏗 - NFIB optimism index [May] ... 6:00a Running Hot 🔥 Gainers - Kaixin Auto [KXIN] >> +70.0% - ShiftPixy [PIXY] >> +29.4% - Cyngn [CYN] >> +12.7% Decliners - Target Hospitality [TH] >> (38.2%) - Velo3D [VLD] >> (19.3%) - Big Tree Cloud [DSY] >> (22.1%) Bluewater Acquisition [BWAQ] - Last Close: $6.82 Bluewater Acquisition is rebounding after a steep sell-off earlier in the week. The declines began when the company announced the extension of its June 2nd deal-making deadline after the close on June 7th. The company now has until July 2nd to close its deal with Fuji Solar. BWAQ took steep losses on Friday and Monday, but it’s up 28.1% in today’s premarket on over half-a-million shares traded. My Take: BWAQ could be very volatile as it approaches the extended deadline on July 2nd. Nauticus Robotics [KITT] - Last Close: $0.2309 In Monday’s aftermarket, Nauticus filed a Form 424B3 that supplemented a public offering prospectus filed on April 18th of last year. In the filing, the company announced several measures relating to the issuance of warrants and other shares of stock. The company also said investors subscribed for debentures in an aggregate principal amount of $36.53 million. KITT is up 42.9% on 73 million shares traded. My Take: KITT’s filing was dense and kind of confusion. Not sure what’s driving this move, but volume has spiked in recent days, and it had a short rate of 9.86% as of May 15th. Quantasig [QSG] - Last Close: $1.63 Quantasig is getting a boost after announcing the launch of a $20 million share repurchase program early this morning. The board has authorized the repurchase of up to $20 million worth of Class A ordinary shares in the form of American depository shares. The buyback is effective over a 12-month period that begins today, and it will be funded from the company’s existing cash balance. QSG is up 21.4% on over 4 million shares traded. My Take: QSG has had a rough run, but it has some price support at $1.50 per share. This catalyst could help it get back on the right track. Clearmind Medicine [CMND] - Last Close: $1.02 Clearmind Medicine announced a big advancement in its proprietary MEAI- based alcohol substitute beverage program. A pre-clinical trial for the psychedelic-infused beverage is currently underway, and the product has been granted patents in the U.S., Europe, and India. CMND is up 12.7% on over 3 million shares traded in response to the announcement. My Take: CMND’s press release is light on substance, but its 8.28% short ratio may be adding some fuel to its fire. 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]( *Alternative investments are speculative and possess a high level of risk. No assurance can be given that investors will receive a return of their capital. Those investors who cannot afford to lose their entire investment should not invest. Investments in private placements are highly illiquid and those investors who cannot hold an investment for an indefinite term should not invest. Private credit investments may be complex investments and they are subject to default risk. [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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