Biotech Booms in Week's Last Trading Session 📈

Biotech is leading today's premarket gainers. Get a full report on all 4 top stocks inside [Image](www.elitetrade.club) Good Morning! Hey, guys and gals. It's Chris from Elite Trade Club, here to give you the day's premarket trading news. Happy Friday! It's August 19th. Let's get ready to trade! Markets 📈 The S&P 500 and Nasdaq both notched a 0.2% gain on Thursday, while the Dow edged 0.1% higher. The small-cap Russell 2K outperformed with a 0.7% advance. This morning, futures are sliding lower in early morning trading. S&P 500 contracts are currently showing a 1.0% loss, indicating a high likelihood of a lower open for US markets. Sponsored [Potential 500% Return From A Unique $1 Asset?]( I've never been THIS concerned. Millions are now rushing towards life at "Ground Zero". A frightening new financial reality that has the potential to erase the wealth of millions. The worst part of it all? It's largely avoidable if you know what to look for. It all hinges on a single, simple $1 asset that skyrockets during strange times like these. [Stake your claim NOW... before this stock takes off.]( Premarket Highlights 🔎 - Bitcoin price falls below $22,000 as the crypto the beat down continues and volatility resurfaces. - On Thursday, Federal Reserve Bank of St. Louis President James Bullard says he's in favor of a 0.75% rate hike in September. What to Watch Today 👀 Wishful Thinking Recent market activity shows many investors are betting the Fed is bluffing on its plan to hike rates, but Fed officials maintain rates will continue rising into 2023. If bullish investors are wrong, something has to give somewhere, and the realization that rate hikes aren't slowing down could provoke a sharp sell-off later in the year. Alternatively, the Fed might lose its nerve to continue aggressively raising rates if the economy begins to stumble. This outcome is certainly possible, but more often than not the Fed sticks to its word. Fighting the Fed is a good way to end up in the red, but it never hurts to hedge your bets. Tread lightly and don't mistake a brief rebound for the bottom of a bear market. International 🌍 Asia India's BSE Sensex fell 1.1% overnight, and the Shanghai Composite lost 0.6%. Most major markets in the reason closed their trading session close to flat. Europe Europe is down sharply, with Germany's DAX showing a 0.9% loss. France's CAC 40 is down 0.6%, and the Euro Stoxx 600 is showing a 0.4% loss. The Italian FTSE MIB has lost 1.5%. Major Earnings 💰 - Deere & Company [DE] ... AM - Newcrest Mining [NCMGY] ... AM - Vipshop [VIPS] ... AM - Foot Locker [FL] ... AM - Madison Square Garden Entertainment [MSGE] ... AM - The Buckle [BKE] ... AM - Kalera Public Limited Company [KAL] ... AM - ToughBuilt Industries [TBLT] ... PM Economy 🏗 - Advance report on selected services [Q2] ... 10a Running Hot 🔥 Gainers - VistaGen Therapeutics [VTGN] >> +11.6% - Mind Medicine [MNMD] >> +12.8% - NeoVolta [CDAK] >> +18.9% Decliners - Bed Bath & Beyond [BBBY] >> (41.9%) - Vinco Ventures [BBIG] >> (15.9%) - Capstone Green Energy [CGRN] >> (44.2%) Axsome Therapeutics [AXSM] - Last Close: $42.43 A new drug approval is rallying shares of Axsome Therapeutics. The biopharma firm reported Friday that the US Food & Drug Administration has fully approved Auvelity, its new treatment for Major Depressive Disorder. The FDA granted the treatment a breakthrough therapy designation in March 2019, but this approval was the final hurdle before the drug could go to commercial markets. Axsome says it expects Auvelity to be commercially available in the US by the fourth quarter. AXSM is up 36.8% on news of the drug approval. My Take: Axsome has seen enormous growth over the past few years, and this is only the latest in a series of several impressive breakthroughs. This up-and-coming biotech could be worth keeping an eye on. Gigacloud Technology [GCT] - Last Close: $15.69 Newly-debuted Gigacloud Technology is making a splash in today's premarket. The Hong Kong-based B2B eCommerce solutions firm completed its IPO on Thursday, and it saw sharp gains in its first few hours of trading. Underwriters priced GCT's IPO at $12.25 per class A share, but the stock rallied 28.1% to $15.69 per share by the time the trading session closed. Today, Gigacloud is carrying its IPO momentum into the premarket, and shares are soaring again ahead of the opening bell. GCT is one of today's top performers with a 39.4% gain. My Take: Chasing over-hyped IPOs is a good way to get burned. I would leave this one alone for now, so you don't get caught holding the bag when early holders decide to cash in their gains. Summit Therapeutics [SMMT] - Last Close: $1.00 Something big is brewing at Summit Therapeutics. Recent regulatory disclosures show key executives at the biopharma firm are snatching up shares at a torrid pace. Summit CEO & Director Robert W. Duggan acquired another 94.8 million shares on August 16th at a cost of roughly $92 million. The purchase brings Duggan's total holdings to 162.53 million shares. With shares at their current prices, Duggan's position has a market value of roughly $157.7 million. Investors are betting the enormous insider buy could be a harbinger of good things to come for this micro-cap biotech stock, and shares are soaring on the news. SMMT is trading actively, with a 47.0% gain in today's pre-bell trading session. My Take: CEO Duggan more than doubled his position in SMMT with his Aug. 16th acquisition. A $92 million purchase is one heck of a vote of confidence, especially coming from the company's chief executive. We don't know what's really going on at Summit just yet, but the big insider buy is certainly a good sign. Aeglea Bio Therapeutics [AGLE] - Last Close: $0.5049 Aeglea Bio is rallying after the company crossed a key regulatory milestone. The clinical-stage biotech firm announced Thursday evening that the European Medicines Agency validated its Marketing Application for pegzilarginase for the treatment of Arginase 1 Deficiency. The application was submitted by Aeglea's commercialization partner in Europe and the Middle East, Immedica Pharma. The validation clears the way for the companies to advance the drug through the EMA review process. The EMA has already granted the drug an Orphan Drug Designation. The U.S. Food and Drug Administration has also given pegzilarginase several designations, including as a Rare Pediatric Disease, Breakthrough Therapy, Fast Track and Orphan Drug designations. AGLE is up 62.3%, and it's one of this morning's most actively traded stocks. My Take: Aeglea's drug candidate looks like its headed towards a general approval. The EU and US designations for the drug are a good sign, and the drug has shown promise in clinical trials. AGLE could be an excellent candidate for a speculative biotech trade. Invite Your Friends to Join Elite Trade Club and [Start Earning Valuable Rewards Now!](elitetrade.club/referral/?email={EMAIL}) [Image](elitetrade.club/referral/?email={EMAIL}) That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. 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