How Much Longer Will It Be Under $1? 💸

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. Today is Wednesday, August 24th. Let's get ready to trade! Markets 📈 The S&P 500 fell 0.2% on Tuesday, and the Dow lost 0.5%. The Nasdaq was flat on the session, and the small-cal Russell 2K edged out a 0.2% gain. Today, futures are fluctuating between gains and losses ahead of the opening bell. S&P 500 contracts are currently showing a 0.1% loss. Sponsored [How Much Longer Will It Be Under $1?]( 💸 The SEC and a group of high-powered lawyers have been hashing out a federally-regulated cryptocurrency. Once done, this crypto will become the first endorsed for use in the United States. Already, 400 of the largest banks and financial institutions have signed on to use it. All they're waiting for is the government's go-ahead. I expect once ready, this crypto's value will skyrocket. Right now, you can get into this crypto for under a dollar, but the window of opportunity is closing fast. [Click here to gain access...]( Premarket Highlights 🔎 - Crude oil prices are on the rise for the second straight day after OPEC+ said it's considering cutting output. - Bed Bath & Beyond has secured a financing source for an 11th-hour liquidity loan deal. What to Watch Today 👀 Economic Data Investors will be watching today's Durable Goods data for July to see if there are any signs that rate hikes are beginning to put the squeeze on economic activity. The report could spark some volatility in today's session. Big earnings reports from NVIDIA, Salesforce, and Snowflake could also impact investor sentiment in today's trading session. International 🌍 Asia China's Shanghai Composite fell 1.9% overnight, while Hong Kong's Hang Seng lost 1.2%. Australia's ASX 200 was up 0.5%, and Japan's Nikkei 225 closed with a 0.5% decline. Europe The UK's FTSE 100 is showing a 0.5% loss midway through the Euro trading session. Germany's DAX is down 0.2%, and the Euro Stoxx 600 has fallen 0.1% today. Major Earnings 💰 Royal Bank of Canada [RY] ... AM Petco Health and Wellness Co. [WOOF] ... AM IIVI [IIVI] ... AM Dycom Industries [DY] ... AM NVIDIA [NVDA] ... PM Salesforce [CRM] ... PM Snowflake [SNOW] ... PM Autodesk [ADSK] ... PM Splunk [SPLK] ... PM NetApp [NTAP] ... PM WilliamsSonoma [WSM] ... PM Box [BOX] ... PM Economy 🏗 - Durable goods orders [Jul] ... 8:30a - Core capital equipment orders [Jul] ... 8:30a - Pending home sales index [Jul] ... 10a Running Hot 🔥 Gainers - Bright Minds Biosciences [DRUG] >> +30.8% - Minerva Neurosciences [NERV] >> +16.9% - Tian Ruixiang Holdings [TIRX] >> +19.4% Decliners - InMed Pharma [INM] >> (14.7%) - Trxade Group [MEDS] >> (19.6%) - Windtree Therapeutics [WINT] >> (14.3%) Intuit [INTU] - Last Close: $449.56 Intuit is heating up ahead of today's open. The accounting software stock released its fiscal Q4 earnings results Today, and investors liked what they saw. Intuit generated non-GAAP EPS of $1.10 for the quarter, down from last year but good enough to beat the Street's $0.98 EPS target. Revenues of $2.41 billion were also down from last year, but also surpassed the consensus estimate of $2.33 billion. Intuit's Q1 and full-year 2023 guidance also surpassed analysts' expectations. The company also unveiled a $2 billion share buyback plan and raised its dividend by about 15%. INTU is leading the S&P 500 with a 5.9% gain. My Take: Intuit has been heating up as of late, after trading below $400/share for a good chunk of the Summer. There could be upside left in this stock, but it's pricey, with a 62.1 price-to-earnings ratio. Bed Bath & Beyond [BBBY] - Last Close: $8.78 Bed Bath & Beyond is riding a relief rally to sharp premarket gains. The home goods retailer announced yesterday evening that it had secured a last-minute loan deal. Bed Bath & Beyond didn't share specifics regarding the size or scope of the deal, but the company is expected to provide more details at the end of August. The company needs $375 million to shore up its cash reserves and help pay its existing debt obligations, according to a Wall Street Journal report citing sources close to the matter. BBBY is one of this morning's most active stocks, and it's up 28.6%. My Take: As with most meme stocks, BBBY is going to be volatile over the next few weeks, especially while this financing deal works itself out. There could be lots of short-term trade opportunities here, but stay on your toes and don't get caught on the wrong side of the trade. Farfetch Ltd [FTCH] - Last Close: $7.84 Shares of Farfetch are trending on news of a new acquisition. The luxury fashion goods retailer has acquired a 47.5% stake in online fashion retailer YOOX NET-A-PORTER or YNAP. Under the terms of the deal, YNAP and its parent company Richemont will adopt Farfetch's platform solutions and advanced its omnichannel delivers strategy. In exchange for selling 47.5% of its shares, Richemont will receive as many as 58.5 million ordinary Class A shares of Farfetch under the terms of the stock-swap deal. News of the deal is rallying FTCH to a 18.2% gain, and it's trading actively in the premarket. My Take: This stock has seen huge losses over the past year, but maybe this is the turning point. It has a dirt-cheap P/E ratio of 2.1, and it seems to be showing strong support around the $7.50 mark. Bird Global [BRDS] - Last Close: $0.4313 Bird Holding is surging after announcing major progress for its core business. The short-distance micromobility stock announced Tuesday evening that it has received permits to extend its shared e-mobility programs to several major metropolitan areas. Bird Global said it has secured extensions to its permits in San Diego and Memphis, plus Newark, NJ; Durham, NC; and Louisville, KY. The company also says it will soon return to the Minneapolis market, and it has expansion plans for Bradenton, FL; Knoxville, TN; University of Oregon, OR; and UNC Wilmington, NC. BRDS is trading actively with a 22.7% gain on the bullish business update. My Take: This speculative micro-cap has been trapped below 50-cents per share for quite some time. The recent progress is good, but trading this tiny stock could be tricky. Expect volatility and set some stop-losses if you decide to jump in. 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... 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