Stocks hover as uncertainty continues 🎢 (2)

Indexes ended the day close to where they opened on Thursday                                                                                                                                                                                                                                                                                                                                                                                                                 June 17, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 America’s large-cap benchmarks closed Friday’s session within 0.1% of where they opened it, while the small-cap Russ2K sold off. - DJIA [-0.1%] - S&P 500 [<0.1%] - Nasdaq [+0.1%] - Russell 2K [-1.6%] [1000%+ Gains on the Table as Tiny Biotech Firm Soars]( An emerging regenerative medicine company is making significant waves on Wall Street, with shares soaring from $1 to over $11 in just a few months. This biotech firm is capturing the keen interest of investors and research firms alike. With an astounding 1,300% increase in net revenue for 4Q 2023 and a recent price target boost from a notable small-cap research firm to $18.70, this company is poised for explosive growth in the coming year. As it continues to secure key regulatory milestones and gain market traction, getting in early could bring huge potential for massive gains. [Discover the cutting-edge biotech that could hand you 1,000%+ gains in 2024! »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 Pictured: Starboard Value CEO Jeffrey Smith (©2024 David Paul Morris | Bloomberg | Getty Images) Activist Investor Starboard Value Grabs Big Stake in Autodesk 📈 Starboard Value, led by activist investor Jeff Smith, has acquired a $500 million stake in graphics-design firm Autodesk [ADSK]. The activist fund has engaged with Autodesk's board regarding concerns over the timing of disclosures related to an internal investigation that led to the removal of the company's CFO. Concerns Over Delayed Disclosure ⏳ Starboard is particularly troubled by Autodesk's delayed disclosure of an internal investigation, which revealed that executives misled investors about the company's free cash flow metrics and operating margins. The probe, which led to the reassignment of former CFO Deborah Clifford, uncovered manipulation in reporting tied to the company's contract billing structure. Potential Legal Action 🏛️ The delayed disclosure, which came after the deadline for nominating directors had passed, has raised concerns within Starboard that Autodesk's board may have intentionally withheld information from shareholders. Starboard is considering legal action in Delaware Chancery Court to reopen the nominating window and delay Autodesk's annual meeting scheduled for July 16. Strategic Improvements and History 📉 Starboard believes Autodesk can drive actual margin improvement and enhance investor communications to boost its stock. This isn't the first time Autodesk has faced activist scrutiny; in 2016, it settled with Sachem Head Capital Management and Eminence Capital to avoid a proxy contest. Autodesk is currently under investigation by the Justice Department and SEC. Autodesk's Response 📣 An Autodesk spokesperson stated that the company welcomes constructive input from shareholders and is confident in its strategic direction, margin opportunities, and corporate governance. The news of Starboard's stake and concerns was initially reported by the Wall Street Journal. Top Winners and Losers 🔥 Zapp EVs [ZAPP] $2.43 (+239%) filed a prospectus for the sale of up to 1.43 million ordinary shares from time to time. Nexalin Tech [NXL] $1.38 (+125%) was awarded regulatory approval from the Braziliant Health Regulatory Agency to sell its Gen-2 15mA neurostim devices. Longeveron [LGVN] $2.69 (+48.6%) continued to rally after Zack’s set a $15.10 price target on the stock in a note published Wednesday. ZKH Group [ZKH] $4.11 (28.4%) continued to fall after posting weaker-than-expected revenues on its Q1 earnings report yesterday. Kaival Brands [TNXP] $1.36 (31.3%) filed an S-1 registration statement announcing the sale of 3+ million shares of common stock and accompanying warrants.. DDC Enterprise [DDC] $1.14 (25.9%) retreated after a massive rally on Wednesday. The breakout began on news DDC had acquired Asian food brand Omsom. 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. 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