Stocks Nosedive on Weak Jobless Data 🌠

[Image](www.elitetrade.club) Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Today is Thursday, March 9th. I hope you had a great trading day! Here's what moved the market today: Markets 📈 US indexes turned south after this week's jobless claims report was worse than expected. The Dow [-1.6%], Nasdaq [-2.0%], and S&P 500 [-1.8%] sold off on the news, and the small-cap Russell 2K [-2.7%] got hammered with steep losses. Sponsored [Debunked: One Of Wall Street's Biggest Myths!]( "The Options Trade Accelerator" makes options trading easy, and it can you generate a steady income from the market. Now, one of most respected trading gurus in the U.S., is using it to debunk Wall Street's "Big Lie" once and for all. [Click here to Learn More]( Today's Market-Moving News 🔎 💼 Jobless Claims Data Remains Strong. Initial jobless claims hit 211,000 last week, outpacing the median forecast of 195,000. The market went into free fall after the report dropped in today's premarket. Today's Top Winners and Losers 🔥 SVB Financial [SVB] $106.04 (-60.4%) SVB Financial announced an offering of $1.25 billion worth of common stock & $500 million in depository shares on Wednesday evening. The company also said it sold $21 billion of securities for a $1.8 billion after-tax loss in Q1 2023, as part of a plan to sell its available-for-sale securities portfolio. Silvergate Capital Corp [SI] $2.84 (-42.1%) This morning, Silvergate Capital announced it will wind down operations and voluntarily liquidate its Silvergate Bank unit. The news rocked the crypto market and sent shares of several popular cryptocurrencies spiraling lower. InVivo Therapeutics [NVIV] ://elitetra.de/L2Ic $1.14 (-46.4%) InVivo Therapeutics announced that top-line data from a clinical trial of its investigational Neuro-Spinal Scaffold device failed to meet its primary end point. Ocean Biomedical [OCEA] $10.56 (+125.1%) Ocean Biomedical's co-founder, Jack Elias, unveiled additional details regarding the company's promising antibodies against CHI3L1 and PD-1 as therapies for non-small cell lung cancer and glioblastoma multiforme. The company is currently working to move the antibody therapies to Phase 1 clinical trials, according its statement. Unicycive Therapeutics [UNCY] $2.06 (+27.1%) Analysts at EF Hutton initiated coverage on Unicycive Therapeutics with a "buy" rating and a $5 price target early this morning. Maxim Group also maintained a "buy" rating on the stock and raised its price target to $9. The stock has been running hot since the company announced a pivotal fundraising effort earlier this week. Build-a-Bear Workshops [BBW] $24.91 (+21.0%) Build-a-Bear reported stronger-than-expected Q4 earnings of $1.30 per share on revenues of $145.11 million. Analysts expected EPS of $1.12 on sales of $137.54 million. 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 from our members! Thanks for reading. I'll see you at the next open! Best Regards, Adam G. -- Elite Trade Club P.S... Text ELITE to 47121 to get our watchlists sent directly to your phone! You can also text CLOSE to 47121 to get the Closing Bell Roundup sent to your mobile inbox, too! *Standard message/carrier rates may apply. © Elite Trade Media LLC, 2023. All rights reserved. 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. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. 1969 S. ALAFAYA TRAIL Orlando FL 32828 USA [Unsubscribe]( | [Change Subscriber Options](