4 Hot Stocks to Watch in Today's Rally 🔥

[Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Friday! It's November 11th. Let's get ready to trade! Markets 📈 Major indexes posted their biggest gains in over two years on Thursday after October's CPI report showed inflation cooled from September. The S&P 500 rocketed 5.5% higher, and the Nasdaq spiked 7.3%. The Dow rallied 3.7%, and the small-cap Russell 2K jumped 6.1%. Futures are up heading ahead of the opening bell. S&P 500 and Dow contracts are showing gains of 0.4%. Sponsored [The Top-4 Stocks Under $5]( These low-priced stocks offer a great way to make money regardless of which way the market is trending. [Get the names & ticker symbols of our top 4 penny stocks under $5.]( Premarket Highlights 🔎 - None What to Watch Today 👀 CPI Rally October's CPI was up 7.7% from last year, marking a slowdown from the September's figure. Markets surged in response to the better-than-expected number. Investors are hoping the Fed will downsize its December rate hike to 0.5% in response to improving inflation data, but whether that will actually be the case remains to be seen. International 🌍 Asia Hong Kong's Hang Seng Composite rallied 7.7%, and Japan's Nikkei 225 jumped 2.9%. The ASX 200 also spiked 2.7%. Europe The UK's FTSE 100 is down 0.4%, but most European markets are up. The German DAX is up 0.5%, and the French CAC 40 is showing a 0.3% gain. The Euro Stoxx 600 is up 0.1%. Major Earnings 💰 Dingdong (Cayman) Limited [DDL] ... AM Innovid Corp. [CTV] ... AM The Real Good Food Company, Inc. [RGF] ... AM Huize Holding Limited [HUIZ] ... AM Superior Drilling Products, Inc. [SDPI] ... AM Plx Pharma Inc [PLXP] ... AM Star Equity Holdings, Inc. [STRR] ... AM Crown Electrokinetics Corp. [CRKN] ... AM Economy 🏗 - UMich consumer sentiment (early) [Nov] ... 10a - UMich consumer 5-year inflation expectations (early) [Nov] ... 10a Running Hot 🔥 Gainers - Versus Systems [VS] >> +49.6% - Cosmos Holdings [COSM] >> +25.2% - SoundHound AI [SOUN] >> +22.7% Decliners - Blue Apron [APRN] >> (32.1%) - Redhill ADR [RDHL] >> (26.5%) - Tattoed Chef Inc [TTCF] >> (19.3%) Doximity Inc [DOCS] - Last Close: $26.33 Shares of Doximity on the heels of a strong quarterly report. The cloud-based medical platform company put out its fiscal Q2 results after Thursday's closing bell, and the strong numbers gave the stock a big boost. Doximity reported Q2 EPS of $0.17 and beat the consensus estimate of $0.15 per share. Revenues grew 29% YoY to $102.19 million for the quarter, which also surpassed analyst's $100.12 million estimate. Doximity's board has also authorized $70 million buyback of company stock. My Take: DOCS looks like an interesting stock. It's trading near its 52W low, but there's a lot of upside between here and its earlier 52W high of $76.88. It's P/E also looks reasonable at 37.62 per share. Matterport Inc [MTTR] - Last Close: $3.03 Strong earnings results are boosting Matterport today. The data company released its Q3 earnings report after Thursday's closing bell, and the results were better than expected. Matterport posted a thinner-than-expected loss of -$(0.09) against analysts' -$(0.14) estimate. Revenues came in at $38 million and beat the Street's $36 million target. MTTR is up 21.7% in today's premarket. My Take: It was a good quarter for MTTR, but the stock's chart still looks pretty tough. I think there's still a lot of uncertainty ahead for this tiny stock. SoundHound AI Inc. [SOUN] - Last Close: $1.89 SoundHound is trading higher after a strong earnings report. The voice-based AI company's Q3 results surpasses the Street's expectations. SoundHound reported a -$(0.15) per share loss, against the consensus of -$(0.16). The company also reported quarterly revenues of $11.19 million, which topped analysts' $8.95 million target. SOUN is one of today's top performers with a 24.8% gain. My Take: Good report, but SoundCloud is still a long way from profitability. The stock is currently trading very close to its 52-week low. Grove Collaborative Holdings [GROV] - Last Close: $1.20 Grove is moving higher in the wake of an after-hours earnings release. The consumer products retailer posted its Q3 results after Thursday's close, and the results are boosting the stock in Friday's premarket. Grove's quarterly revenues shrank 2% from Q2 to $77.3 million, and the company posted earnings of $0.05 per share. The company also increased its full-year guidance of $302.5 million to $312.5 million. It now expects to generate revenues of $313 million to $320 million in FY2022. GROV is up 18.3% ahead of the opening bell. My Take: The report looks good, but the stock's prolonged down-trend is concerning. However, I see some indications that the slump may have bottomed out at $1 a share, but it remains to be seen if the stock will maintain support at that level. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.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! Or text CLOSE to 47121 to get on the mobile alert list for our Closing Bell Roundup report, featuring the day's top winners and losers. *Standard message/carrier rates may apply. 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