Short squeeze EV stock rockets 127% 🚀

Get the details on all of Monday's top movers in today's Closing Bell Roundup.                                                                                                                                                                                                                                                                                                                                                                                                                 July 08, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Stocks continued to push higher in their return from the Fourth of July trading week. The Dow closed just shy of even, while the rest of the U.S. benchmarks notched fractional gains. - DJIA [<0.1%] - S&P 500 [+0.1%] - Nasdaq [+0.2%] - Russell 2K [+0.6%] [Gain the Upper Hand with a Live Market Watchlist]( Worried about navigating the volatile market trends and making the right trading decisions? With the upcoming Fed meeting, the stakes are higher than ever. Gain exclusive insights into the biggest market movers, S&P, and major indices forecasts, and learn proven strategies to boost your trading success. [Unlock the Exclusive Watchlist HERE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 📈 Airline Profits Lag Despite Record Demand ✈️ Despite record air travel demand this summer, U.S. airline profits are lagging. Carriers will have to address this disconnect when they report quarterly results this month. The Transportation Security Administration screened more than 3 million people in a single day recently, yet higher operational costs are cutting into profits. Operational Challenges 🏔️ Airlines are grappling with increased labor and operational costs, significantly impacting their bottom lines. To manage slower demand growth and other challenges, some carriers have paused or slowed hiring compared to their post-pandemic hiring sprees. Additionally, delays in new, fuel-efficient aircraft from Airbus and Boeing, combined with a Pratt & Whitney engine recall, have grounded dozens of jets, further complicating operations. More Seats, Lower Fares 💺 U.S. airlines have expanded capacity by 6% in July compared to last year, which has helped keep airfares in check. While airports are bustling, expanded schedules both domestically and internationally are pushing down prices. For instance, U.S.-Europe flights in coach averaged $892 this summer, down from $1,065 last year. Despite high demand, the increased capacity has prevented fares from rising, contributing to the pressure on profits. Mixed Forecasts 📉 Despite higher passenger numbers, some airlines are struggling with weaker-than-expected sales. American Airlines recently cut its second-quarter revenue and profit forecasts, citing a domestic supply and demand imbalance. The airline's CEO, Robert Isom, noted increased discounting activity as a significant factor. Similarly, Southwest Airlines revised its forecast, pointing to shifting demand patterns. The Dallas-based airline is under pressure to adapt its long-profitable business model as rivals like United and Delta benefit from premium cabin growth. Adjusting Models 🔄 JetBlue and Frontier Airlines are making strategic changes to improve profitability. JetBlue is cutting unprofitable routes and focusing on its premium Mint service, which offers high-end amenities. Frontier and Spirit Airlines have eliminated change fees and are offering bundled fares that include seat assignments and other add-ons. Spirit, facing challenges from an engine grounding and a blocked merger with JetBlue, has warned of potential pilot furloughs. Industry Outlook 🔮 The discrepancy between high travel demand and weak profits highlights the ongoing challenges in the airline industry. While some carriers are making strategic adjustments to improve their financial health, the overall outlook remains uncertain. The industry continues to navigate increased operational costs, fluctuating demand, and competitive pressures. As carriers report their quarterly results, investors and analysts will be closely watching for signs of stabilization or further turmoil. Top Winners and Losers 🔥 Zapp EV [ZAPP] $9.24 (+127%) continued to soar in what appears to be a short squeeze rally that began late last week. Inspire Veterinary [IVP] $2.97 (+99.3%) rallied after registering for a direct offering of 9.125 million shares of its common stock last week. Virpax Pharma [VRPX] $1.11 (+92.0%) closed a $2.5 million secured loan financing round from an institutional investor, allowing it to pay off its litigation settlement. HilleVax [HLVX] $1.64 (88.3%) said its HIL-214 acute gastroenteritis vaccine failed to meet its main goal in a Phase 2 study. SYLA Tech [SYT] $1.98 (34.8%) fell after publishing a FY24 Q2 investor update early this morning. ChiJet Motor [CJET] $6.00 (25.9%) shares began trading on a 1-for-30 reverse split-adjusted basis today, after initially announcing the reverse split last Wednesday. 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. 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