4 Hot Stocks to Watch Closely Today 🔥

[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. It's Tuesday, January 10th. I hope you have a great day. Just a reminder that you can sign up for mobile alerts by texting Elite to 47121 or [signing up here](. It's a great way to stay on top of the latest market-moving news and hot stocks. Let's get ready to trade! Markets 📈 US indexes opened the week with mixed results on Monday. The Dow lost 0.3%, and the S&P 500 slid to a fractional loss of less than 0.1%. The Nasdaq eked out a 0.6% gain, and the small-cap Russell 2K edged 0.1% higher. Today, futures are falling in anticipation of comments from Federal Reserve Chairman Jerome Powell. S&P 500 and Dow contracts are currently down 0.3%. Sponsored [Finance Expert Issues Official Warning]( The world became a lot more complicated in 2022, and one investing legend says its only going to get worse in the year ahead. If he's right, millions of people could face tremendous difficulties in the months ahead. However, the Smart Money is already lining up to capitalize on the chaos, and the moves they're making say a lot about what's next. If you want to turn a potential disaster into a massive growth opportunity, act now, or you could end up on the wrong side of this one. [Get the Details Here]( Premarket Highlights 🔎 📉 Coinbase to Slash Workforce: Crypto exchange Coinbase will slash 20% of its work force in a second round of job cuts that will reduce its payrolls by 10,000 jobs. What to Watch Today 👀 Powell Speech Fed Chair Jerome Powell is slated to speak at 9 a.m. ET at a public event in Sweden, and investors will be listening closely to garner hints from his comments. Expect to see volatility early in the session due to this appearance, as the outlook for interest rates is the foremost issue on most investors' minds going into 2023. Major Earnings 💰 Td Synnex Corporation [SNX] ... AM Saratoga Investment Corp New [SAR] ... PM Inotiv, Inc. [NOTV] ... PM Economy 🏗 - NFIB small-business index [Dec] ... 6a - Jerome Powell speaks in Sweden ... 9a - Wholesale inventories (revision) [Nov] ... 10a Running Hot 🔥 Gainers - Panbela Therapeutics [PBLA] >> +45.5% - Oak Street Health [OSH] >> +35.9% - Nextplat Corp [NXPL] >> +25.3% Decliners - Virgin Orbit Holdings [VORB] >> (21.7%) - Illumina [ILMN] >> (14.3%) - Euronav [EURN] >> (15.0%) Frontline [FRO] - Last Close: $11.33 A short squeeze could be developing in shares of Frontline. This morning, the crude oil transporter announced the termination a merger deal with Euronav NV [EURN] previously announced on July 11th, 2022. Frontline said it will not seek to acquire the company, and it has withdrawn its intention to complete the voluntary conditional exchange offer. CEO Lars Barstad said, "We regret we could not complete the merger as envisaged in July 2022..." News of the canceled merger is sending shares of FRO higher. The stock is up 25.1% on active premarket trading volume. My Take: FRO has a very high short percentage of 17.53%, making it a ripe target for a potential short squeeze. The rally could quickly accelerate if the shorts begin to panic buy. Sotera Health [SHC] - Last Close: $8.64 Sotera Health is trending after announcing a settlement agreement. The lab tech company's Sterigenics unit has agreed to pay $408 million to settle more than 870 lawsuits relating to ethylene oxide in its Willowbrook, IL facilities. Plaintiffs alleged that the company's Willowbrook facility emitted ethylene oxide gas and posed an alarming safety risk to workers and surrounding communities. The company maintains that Sterigenics's Willowbrook operations posed so safety risk and a trial would've ultimately resulted in a "rejection of the plaintiff's claims." Nonetheless, the case is officially settled, and shares of SHC are up 57.7% on the news. My Take: This could be a breakout move for SHC. The stock is on pace to break through a key resistance point, and it's elevated short percentage of 7.74% could throw more fuel on the fire. Prenetics [PRE] - Last Close: $1.86 News of a key regulatory decision is boosting shares of Prenetics. This morning, the genetic testing firm announced the US Food and Drug Administration approved its ACTOnco profiling test for all solid tumors. ACTOnco is a diagnostic test that can detect breast, colon, endometrial, lung, and other cancers, Prenetics said in a statement. News of the FDA approval sent shares of PRE soaring. The stock is currently up 79.0% on high volume, making it one of this morning's top premarket performers. My Take: PRE shareholders could use the good news. The stock has struggled as of late, but this move could mark a pivot point. Shares are currently on pace to close above a key resistance point at $2.50. Vyne Therapeutics [VYNE] - Last Close: $0.1920 Vyne Therapeutics is moving higher after a clinical update. Yesterday afternoon, the pharma firm announced it has dosed the first patient enrolled in a Phase 1a/b trial of its novel BET inhibitor, VYN201. The first-in-human study will examine VYN201 as a potential treatment for immuno-inflammatory diseases. Vyne says it expects to publish topline data sometime in the first half of 2023. News of the clinical milestone is rallying shares of VYNE. The tiny stock is up 58.8%, and it's one of this morning's most active movers. My Take: If this trial proceeds successfully, there could be more catalysts ahead for this small-float stock. 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... 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