This EV Stock Is Up 124% So Far Today

July 03, 2024 | [Read Online]( Good Morning! I have seen an influx of new members, and I just wanted to remind you that you can get my daily newsletter texted to you every morning to ensure you never miss a second of the action. To sign up, just go [HERE and enter your cell](. With that said, the markets are bustling today. Here’s what’s making waves right now! Markets 📈 Yesterday, the markets spent most of the day in the red, weighed down by investor concerns over ongoing economic challenges. However, a significant turnaround occurred when Federal Reserve Chair Jerome Powell made some unexpectedly positive comments about the Fed's efforts to reduce inflation. Powell's remarks suggested that the central bank's strategies were starting to show promise, fueling optimism among investors. Following his speech, major indexes surged dramatically, reaching all-time highs by the end of the trading session. Futures: Futures are flat before the bell. Let’s hope the momentum from yesterday can carry into today. - Dow [+0.1%] - S&P 500 [0.0%] - Nasdaq [-0.1%] - Russell 2k [+0.2%] What to Watch Today: Today's economic events are packed with key indicators that could impact the markets significantly. Early this morning, New York Fed President John Williams delivered a speech in Portugal at 6:30 AM, offering insights into the Federal Reserve's monetary policy stance. At 8:15 AM, the ADP employment report for June was released, providing a snapshot of private sector job growth and influencing expectations for the broader labor market. Shortly after, at 8:30 AM, initial jobless claims data for June and the U.S. trade deficit for May were both reported, shedding light on unemployment trends and international trade dynamics. Later in the morning, the final U.S. services PMI for June was announced at 9:45 AM, followed by factory orders for May and the ISM services index for June at 10:00 AM. These reports collectively offer a comprehensive view of the economic landscape, culminating with the release of the minutes from the Fed's June FOMC meeting at 2:00 PM, which investors will scrutinize for any hints on future monetary policy decisions. [Wall Street's Million Dollar Playbook - Now Available for Free]( Curious how top investors consistently outperform the market? A game-changing guide now exposes the closely guarded tactics of Wall Street's most successful players. This comprehensive playbook distills four decades of market victories and hard-won insights into actionable strategies you can apply today. [Gain the investing edge you've always wanted. Download your free copy now and start your journey to financial mastery.]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Premarket Highlights 🔎 Southwest Airlines Adopts Poison Pill to Counter Elliott Management Southwest Airlines has taken a defensive step by adopting a shareholder rights plan, commonly known as a "poison pill," in response to activist investor Elliott Management's recent actions. Elliott Management has made a significant investment in the airline and is pushing for the removal of CEO Bob Jordan and Chairman Gary Kelly. 📉 Poison Pill Activation The poison pill mechanism will be triggered if Elliott or any other investor acquires at least 12.5% of Southwest's shares. Should this threshold be crossed, all other shareholders will be given the right to purchase additional Southwest shares at a 50% discount. This move is intended to dilute the influence of any single investor, making it more difficult for Elliott to gain control. 📈 Response to Antitrust Filings Southwest's decision to implement the poison pill comes after Elliott made filings with antitrust authorities, signaling its intention to potentially increase its stake in the airline. In a statement, Gary Kelly emphasized that Southwest has been trying to engage constructively with Elliott and remains open to ideas for creating long-term value. 🤝 Recent Negotiations The recent in-person meeting between Elliott and Southwest management highlights the ongoing negotiations and the airline's effort to address the activist investor's concerns. The poison pill is designed to protect the company from being forced into decisions that may not align with the interests of all shareholders. 🛡️ Historical Context Historically, companies have adopted similar measures to fend off activist threats. For example, Hertz implemented a poison pill in 2013 in response to unusual trading activity that hinted at an activist intervention. Southwest's legal and financial advisors for this strategy include Bank of America, Morgan Stanley, Vinson & Elkins, and Kirkland & Ellis, all of whom are experienced in handling activism defense. 🔒 Ensuring Stability By adopting the poison pill, Southwest aims to ensure stability and protect its leadership from potential disruptions while exploring strategies that benefit all shareholders. The airline's proactive approach underscores its commitment to maintaining control over its strategic direction amidst growing external pressures. Featured Earnings 💰️ - Constellation Brands [STZ] ... AM Economy 🏗 - New York Fed President John Williams speech in Portugal ... 6:30a - ADP employment [Jun] ... 8:15a - Initial jobless claims [Jun] ... 8:30a - U.S. trade deficit [May] ... 8:30a - S&P final U.S. services PMI [Jun] ... 9:4a - Factory orders [May] ... 10:00a - ISM services [Jun] ... 10:00a - Minutes of Fed's June FOMC meeting ... 2:00p Running Hot 🔥 Gainers - Zoomcar Holdings Inc [ZCAR] >> +63% - Maxeon Solar Technologies Ltd [MAXN] >> +10% - JX Luxventure Ltd [SYTA] >> +19% Decliners - Shapeways Holdings, Inc. (SHPW) >> (52%) - First Foundation Inc [FFWM] >> (29%) - Ocean Power Technologies Inc [OPTT] >> (13%) VivoPower International PLC [VVPR] - Last Close: $1.50 The company is up 124% in premarket trading. Shares are rallying due to an $838 million dollar SPAC merger for Tembo, one of VVPRs subsidiaries. My Take: This penny stock has a lot of volume behind it and may continue to rally today. Trade accordingly and don’t buy into the hype. Tesla Inc [TSLA] - Last Close: $231.26 The EV Car car/software company is extending its rally with shares up 2% before the bell. Shares rallied 10% yesterday on news of better-than-expected earnings in G2. After a rough start to the year, TSLA seems to be falling back into favor with Wall Street. My Take: TSLA may have finally found a bottom. There are many catalysts that can propel the stock higher. This is one to keep an eye on. Shapeways Holdings, Inc. (SHPW) - Last Close: $0.706 Shapeway, a 3d printing company filed for chapter 7 bankruptcy this morning. Shares are down over 50% to 35 cents this morning. With the bankruptcy proceedings underway, a Chapter 7 trustee is set to be appointed by the court to oversee the liquidation of the company's assets My Take: This could be a good day trade but nothing more. If you do decide to trade it, watch it like a hawk. DouYu International Holdings (DOYU) - Last Close: $12.59 Shares of DouYu are up 31% in pre-market trading, currently trading around $16.45 The company is rallying due to declaring a special dividend of $9.76 The stock is down 90% from its 2020 highs. My Take: Seems like financial engineering to me to entice shareholders to buy. The company reported weak earnings just a month ago but now announced a special dividend to bolster its stock. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Adam Garcia 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. 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