Instacart preps for blockbuster IPO 🚀

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Tuesday, September 19th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 U.S. benchmarks ended Monday's session close to flat, with the Dow, S&P 500, and Nasdaq all posting gains of less than 0.1%. On the other hand, the small-cap Russell 2K edged lower by 0.6% Futures are up in early-morning trading. S&P 500 contracts are currently showing a 0.1% gain. Sponsored [Free Stock Analysis Report: Get Buy, Sell, or Hold Recommendation]( Get a full report that tells you what a stock is really worth, how safe the stock is, and if the timing is right to buy the stock. Plus a definitive Buy, Sell, Hold recommendation for any stock on the market. [Analyze Any Stock Free]( Premarket Highlights 🔎 🛒 Instacart Prepares for Highly Anticipated IPO Grocery-delivery app Instacart will make its public market debut on the NASDAQ in today's session, priced at $30 per share under the ticker symbol CART. Instacart has been considering an IPO for years, but the recent success of Arm Holdings' [ARM] debut seems to have provided the final reassurance the company needed to move forward with the listing. You can bet your bottom dollar there will be many companies watching this IPO closely to gauge the market's reception. If it performs as well as Arm, we could see more significant listings before the end of the year. What to Watch Today 👀 IPO Fever I hate to sound like a broken record, but the Instacart IPO is the hottest thing moving in today's trading session. It's a thin day for earnings and economic data, so I think this event could set the tone for the trading session. I anticipate CART will make a successful debut, but I won't give it a full "buy" endorsement just yet. In my experience, IPO stocks like these tend to pull back after the hype dies down, so you might be able to get a better deal if you hold off a bit. Major Earnings 💰 Autozone [AZO] ... AM Endava [DAVA] ... AM Apogee [APOG] ... AM Steel Case [SCS] ... PM Economy 🏗 - Housing Starts [Aug]... 8:30a - Building Permits [Aug]... 8:30a Running Hot 🔥 Gainers - Navidea Bio [NAVB] >> +16.4% - CF Acquisition [CFFE] >> +33.2% - Chicken Soup for the Soul [CSSEL] >> +30.0% - Phaxiam Therapeutics [PHXM] >> +24.0% Decliners - Uphealth [UPH] >> (50.0%) - Rocket Lab USA [RKLB] >> (20.4%) - Cheche Group [CCG] >> (17.3%) - 60 Degrees Pharma [SXTP] >> (21.6%) Sezzle [SEZL] - Last Close: $12.93 Sezzle is notching big gains in the premarket. The company is rebounding in dramatic fashion after a Form 4 filing in Monday's after-market revealed CEO Amin Sabzivand disposed of 586 shares of stock. According to the filing, Sabzivand offloaded the stock on Sept. 14th and 15th, bringing his total holdings down to 37,034 shares. This is the only significant news involving this stock at the moment. SEZL is one of today's top gainers with a 52.5% gain in early trading. My Take: I am not sure what's going on here. SEZL fell 3.6% on Monday, but it spiked suddenly at the closing bell. This filing may not be the real reason for the move, but it's all we have to go on right now. Elutia [ELUT] - Last Close: $1.24 Elutia just inked a lucrative deal to sell some of its assets. The biotech company announced late Monday that it sold its orthobiologics business to GNI Group subsidiary Berkley Biologics for up to $35 million. Under the terms of the deal, Elutia will receive an upfront payment of $15 million, plus potential earn-out payments of up to $20 million over five years. The deal is expected to close in Q4 2023. ELUT is one of this morning's most active stocks, and it's up 34.6% My Take: This looks like a solid deal for ELUT. The stock has struggled in recent months, but there are some signs the sell-off could be bottoming out. Avinger [AVGR] - Last Close: $6.07 Avinger is rallying after an SEC filing. The company published a Form 424B5 in Monday's aftermarket that announced the execution of a previously-announced market offering agreement. The offering was initially announced on May 20th, 2022, and the sale has an aggregate price limit of up to roughly $2.133 million. AVGR is also running hot since announcing the commercial launch of its Tigereye ST image-guided CTO crossing device on Monday. Whatever the reasoning, AVGR is one of today's top stocks with a 37.5% gain. My Take: I would wager the Tigereye ST launch is the primary engine driving AVGR's recent rally, as the filing was pretty routine. AVGR will face some stiff resistance at $7.50 per share, so I'm not sure the upside potential is worthwhile. Connexa Sports Technologies [CNXA] - Last Close: $0.0757 Connexa Sports Tech is up after a recent announcement. This morning, the entertainment company announced shareholders had approved a plan for a reverse stock split of up to 1-for-40 shares. Connexa Sports Tech unveiled the decision yesterday via a Form 8-K filing revealing shareholders voted to approve the measure. No word yet on when the reverse split will take effect, but the market is cheering the news. CNXA is today's top premarket performer with a 69.7% gain on active trading volume. My Take: CNXA is a remarkably tiny stock, so there could be some price manipulation afoot here. This could be a bull trap, so be cautious. Don't get caught holding the bag. 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! 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. 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 of these emails. [Bots click here]( 1969 S. ALAFAYA TRAIL Orlando FL 32828 USA [Unsubscribe]( | [Change Subscriber Options](