How to Invest in AI's Fast-Growing Market 📈

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Tuesday! It's May 30th. I hope you had an excellent Memorial Day holiday. Now, let's get ready to trade! Markets 📈 Stocks closed out last week on a high note, with the Nasdaq rallying 2.1% on Friday. The Dow gained 1.0%, and the S&P 500 advanced 1.3%. This morning, futures are up nicely in early morning trading. S&P 500 contracts are currently showing a 0.5% gain. Sponsored [How to Invest in AI's Fast-Growing Market]( The AI market stands at $160 billion in 2023. Estimates are the AI market will grow 20-fold to $1.8 TRILLION by 2030. One little-known company is looking to win big with a new network technology no one else has. AI could explode... very soon. [Find Out How Investors Can Benefit in the AI Technology Race]( Premarket Highlights 🔎 🤝 Debt Ceiling Deal Heads to Congress Pres. Joe Biden's administration and House Republicans led by Rep. Kevin McCarthy came to an agreement to suspend the U.S. debt ceiling through 2025 over the holiday weekend, ending a weeks-long standoff. Markets are reacting positively to the news, but the deal has received criticism from both sides of the aisle. Some lawmakers have pledged to vote against the agreement, but the deal most likely has the votes it needs to make it through Congress. What to Watch Today 👀 Holiday-Shortened Trading Week We're opening up a four-day trading week today, so the market could experience some heightened volatility in the days ahead. Stocks closed last week on a high note, and the debt ceiling deal is boosting them again in today's session. If the good news keeps up, U.S. indexes could be on course for a strong performance this week. Major Earnings 💰 Skyline Champion Corporation [SKY] ... AM Golar Lng Limited [GLNG] ... AM Gaotu Techedu Inc. Dr [GOTU] ... AM Tsakos Energy Navigation Ltd [TNP] ... AM Hewlett Packard Enterprise Company [HPE] ... PM U-Haul Holding Company [UHAL] ... PM Box, Inc. [BOX] ... PM Ambarella, Inc. [AMBA] ... PM Joyy Inc. Dr [YY] ... PM Noah Holdings Limited Dr [NOAH] ... Pm Economy 🏗 S&P Case-Shiller home price index (20 cities) [Apr] ... 9:00a Consumer confidence [May] ... 10:00a Running Hot 🔥 Gainers - QualTek Services [QTEK] >> +191.5% - Wearable Devices [WLDS] >> +23.9% - Taro Pharma [TARO] >> +23.9% - Equitrans Midstream [ETRN] >> +26.6% Decliners - Ironnet [IRNT] >> (13.6%) - Presto Automation [PRST] >> (14.7%) - Appreciate Holdings [SFR] >> (14.7%) - Rave Restaurant [RAVE] >> (12.5%) Nvidia [NVDA] - Last Close: $7.42 Nvidia is rallying again in today's premarket. The high-tech chipmaker unveiled a new networking platform for improving AI cloud systems on Sunday that's boosting its shares. Nvidia said its Spectrum-X platform is able to achieve 1.7 times stronger overall AI performance and power efficiency with consistent performance. Analysts from BMO Capital maintained their "outperform" rating on NVDA and raised their price target from $350 to $450 on the news. NVDA is leading the S&P 500 with a 3.7% gain on elevated trading volume in the premarket. My Take: NVDA has been on an absolute tear lately. There's a huge wave of bullish sentiment behind this stock, so any headline that's even remotely positive is likely to send share prices higher. Iovance Biotherapeutics [IOVA] - Last Close: $7.55 A favorable regulatory decision is boosting Iovance Biotherapeutics. The clinical-stage biotech said the U.S. Food & Drug Administration accepted its biologics license applications for lifileucel for patients with advanced melanoma. Drug regulators also granted the drug a priority review and set Nov. 25th, 2023, as the target action date for a decision under the Prescription User Fee Act. After a preliminary reviw, the FDA hasn't identified any potential review issues, Iovance Bio said in a statement. Iovance noted positive data from an advanced melanoma clinical trial supported its submission. Shares of IOVA are up 21.8% on news of the drug application's acceptance. My Take: IOVA has been on a tear this month, but it's facing some resistance at th $8 mark. Today's rally could put it over the top, so this one could be worth keeping an eye on. Arlington Asset Investment [AAIC] - Last Close: $2.75 Arlington Asset Investment is climbing after a merger announcement. The company has agreed to be acquired by Ellington Financial [EFC] in a big merger deal. Under the terms of the agreement, AAIC shareholders will receive 0.3619 shares of EFC, plus $0.09 in cash, for each common share of stock. The deal implies an offer price of $4.77 per share, based on the two stocks' Friday closing prices, marking a 73% premium. AAIC is up 49.0% on news of the merger deal. My Take: There could still be some upside in this trade if EFC can maintain its value in the coming weeks. GreenLight Biosciences [GRNA] - Last Close: $0.1995 News of a take-private deal is rallying shares of GreenLight Bio. This morning, the biotech firm reported it has agreed to be acquired by a consortium led by Fall Line Endurance Fund in a $45.5 million all-cash deal. GRNA investors will receive $0.30 for each common share under the terms of the deal, representing a 50% premium to GRNA's Friday closing price. The deal includes a 30-day "go-shop" period, and GreenLight Bio will become a private company upon closing. The merger is expected to close in Q3. GRNA is up 39.4% on news of the deal. My Take: GRNA is already trading for pretty close to the proposed acquisition price, so there's nothing but downside risk left in the trade at this point. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... 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