Stocks get off to a hot start 🔥

The market entered the new trading week on a high note with another solid set of gains for U.S. indexes.                                                                                                                                                                                                                                                                                                                                                                                                                 July 15, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 The market continued its hot streak on Friday with solid gains for U.S indexes. The small-cap Russ2K outperformed with a point-plus rally for the second session in a row. - DJIA [+0.5%] - S&P 500 [+0.2%] - Nasdaq [+0.4%] - Russell 2K [+1.7%] [Discover Explosive Trading with the "APEX" System]( Traders have been spotting double- and triple-digit moves at every single market open, within hours or just minutes. Recent bangers include 150% on ET, 220% on BHC, 190% on CRK, and many more! These "APEX" trades happen practically every trading day, thanks to a system built by 4 pro traders who share their top trade ideas daily at zero cost. So, are you ready to get in on these explosive trade ideas? [Click here to unlock instant, no-cost access to BIG day-trade alerts.]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 📈 IRS Program to Catch Crypto Tax Cheats Falls Short 🚫 The Internal Revenue Service's (IRS) initiative, "Operation Hidden Treasure," aimed at identifying cryptocurrency tax cheats, has yielded minimal results since its launch in 2021. The Treasury Inspector General for Tax Administration reported last week that the program has primarily benefited government contractors rather than achieving its enforcement goals. Limited Achievements 📊 The program has focused on acquiring data analytics tools, software licenses, and employee training rather than delivering concrete enforcement outcomes. The IRS's civil office of fraud enforcement has secured over 600 licenses for these tools but lacks documented evidence of the program's effectiveness or results. Significant Spending with Limited Impact 💸 Since the 2020 fiscal year, the IRS has spent at least $47 million on contracts with blockchain-analytics companies specializing in tracking cryptocurrency transactions. Chainalysis, the largest recipient, received 81% of this funding. Despite these investments, the tools from Chainalysis and similar firms have notable limitations, such as only being able to monitor transactions on public blockchains, while many transactions occur off-chain through exchanges like Coinbase. Mixed Results from IRS Divisions 🕵️ Operation Hidden Treasure is a collaboration between the IRS's civil and criminal divisions. While the criminal unit has investigated 390 crypto-related cases from 2018 to 2023, the civil division's enforcement efforts have been described as "indirect and negligible" by the inspector general. IRS Acknowledges Need for Improvement 📈 Heather Maloy, the IRS's chief tax compliance officer, responded to the report, agreeing that digital asset compliance enforcement requires enhancement. The IRS aims to improve its approach to ensuring taxpayers accurately report cryptocurrency transactions. Top Winners and Losers 🔥 Autonomix [AMIX] $1.38 (+123%) landed a deal to license its Apex 6 Radiofrequency Generator to RF Innovations in exchange for 250K shares of stock. DatChat [DATS] $1.89 (+81.7%) rallied in sympathy with Trump Media Technology [DJT +31.7%] following an assassination attempt on former Pres. Trump at a rally in Butler, PA over the weekend. Aeon Bio [AEON] $2.28 (+62.8%) was reiterated as a “buy” by analysts at HC Wainwright late last week, maintaining a $6 price target on the stock. ASLAN Pharma [ASLN] $1.38 (45.8%) said it would not appeal Nasdaq’s delisting notification. Locafy [LCFY] $3.65 (34.7%) filed a Form 6K late Sunday disclosing the resignation of Andrea Betti from its board of directors. Naas Technology ADR [NAAS] $2.80 (33.4%) was downgraded from “hold” to “sell” by analysts at Refinitiv/Verus midway through today’s trading session. 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! 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. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. 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