Stocks stutter as debt ceiling talks drag on 📉

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's May 22nd. I hope you had a great weekend. Our Growth vs. Value email course will continue throughout this week. Keep an eye out for Lesson #4 this evening. Now, let's get ready to trade! Markets 📈 Stocks closed Friday in the red, with the S&P 500 falling 0.1%, the Dow losing 0.3%, and the Nasdaq edging 0.2% lower. The small-cap Russell 2K underperformed with a 0.6% loss. Futures are down in early premarket trading. S&P 500 contracts are currently carrying a small loss of less than 0.1%. Sponsored [Shark Tank's Kevin O'Leary is Putting His Money Here]( 🎯 If you have ever watched Shark Tank, you know Kevin O'Leary (Mr. Wonderful) is very protective of his money. In fact, he expects to multiply his investments by at least 10x when he gets in... And the company Bryan Perry discusses in this video is exactly what Mr. Wonderful looks for. In fact, not only did Kevin invest his money in it, he also put his own personal team to work in the company. And Bryan calls this opportunity part of "the greatest wealth transfer in history." [Get all the Details Here]( Premarket Highlights 🔎 ⚪ None What to Watch Today 👀 Debt Ceiling Talks Talks between House Republicans and the White House are set to resume on Monday afternoon, with a meeting between Pres. Biden and House Speaker Kevin McCarthy. After a Friday evening phone call between the two, McCarthy comments seemed to indicate the two sides remain far apart on several issues. If debt ceiling talks continue to draft on this week, it could weigh on investor sentiment and the stock market's overall performance. Major Earnings 💰 Full Truck Alliance Co. Ltd. Dr [YMM] ... AM Global-E Online Ltd. [GLBE] ... AM Zim Integrated Shipping Services Ltd. [ZIM] ... AM Heico Corporation [HEI] ... PM Zoom Video Communications, Inc. [ZM] ... PM Nordson Corporation [NDSN] ... PM Lufax Holding Ltd Dr [LU] ... PM Navigator Holdings Ltd. [NVGS] ... PM Transcat, Inc. [TRNS] ... PM Capital Southwest Corporation [CSWC] ... PM Economy 🏗 - None Running Hot 🔥 Gainers - SeqLL [SQL] >> +44.7% - NetCapital [NCPL] >> +28.5% - CNS Pharma [CNSP] >> +29.5% - Cardio Diagnostics [CDIO] >> +19.0% Decliners - Volcon [VLCN] >> (29.8%) - Trio Petroleum [TPET] >> (29.5%) - Daxor Corp [DXR] >> (22.3%) - Maris Tech [MTEK] >> (22.8%) VectivBio Holdings [VECT] - Last Close: $11.90 Buyout news is boosting shares of VectivBio. The Swedish biotech has agreed to be acquired by Ironwood Pharmaceuticals [IRWD] in a $1.15 billion all-cash deal. Under the terms of the deal, Ironwood will launch a tender offer that pays $17 for each share of common stock, a 42% premium to the stock's Friday closing price. Bothe company's boards have already approved the transaction, but the offer is contingent on the tender deal acquiring at least 80% of VectivBio's shares. The deal is expected to close in the second half, pending customary closing conditions. VECT is one of this morning's top premarket stocks with a 39.9% gain. My Take: VECT has performed well over the past few weeks, and this deal is giving it another big boost. Hepion Pharmaceuticals [HEPA] - Last Close: $8.87 Hepion Pharma is rallying on new drug data. The pharma firm announced this morning that a Phase 2 ALTITUDE-NASH trial of rencofilstat in non-alcoholic steatohepatitis patients met its main goal. The 61-patient trial found the drug was safe, and the 225 mg dose showed the greatest benefit to liver function. Hepion said the trial met both its primary and secondary endpoints, and the company said the successful study could help advance the drug to a Phase 3 trial. HEPA is up 72.4% on the new drug data, making it today's top premarket stock. My Take: HEPA's drug seems to have promise, and NASH could be a very lucrative market. This stock could be a dark horse worth watching. AVROBIO [AVRO] - Last Close: $0.7751 A premarket announcement is lifting shares of AVROBIO. The gene therapy firm has agreed to sell its investigational hematopoietic stem cell gene therapy for cystinosis to Novartis in exchange for $87.5 million in cash. AVROBIO said it retains full rights to its portfolio of HSC gene therapies for Gaucher disease and other ailments. The company says the proceeds generated from this transaction will extend its cash runway into Q4 2024. News of the deal boosted AVRO to a 67.7% gain on elevated trading volume in today's premarket. My Take: This looks like a good deal for AVRO, but it's a one-time deal. AVRO will have to deliver on the clinical R&D front to keep its momentum rolling. Immix Biopharma [IMMX] - Last Close: $1.64 Immix Bio is taking off after an upbeat clinical update. The biotech stock said updated data from a Phase 1b/2a study of NXC-201 produced a 100% overall response rate in Darzalex-relapsed or refractory light chain amyloidosis patients. The study showed that 63% of patients with the rare disorder showed a complete response rate after receiving the drug. The principle study investigator, Polina Stepensky, said, "We continue to be very encouraged by NXC-201." IMMX is up 27.4% on active premarket trading. My Take: This drug appears to hold tremendous promise, but it treats a very rate disease. IMMX has shown substantial volatility lately, so it will be interesting to see where it goes after this catalyst flattens out. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 to sign up now and get our watchlists sent directly to your phone! 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