This tiny biotech stock is up 561%! 🚀

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. It's Thursday, September 28th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 Stocks closed Wednesday's session with mixed results. The Dow fell 0.2%, while the Nasdaq added 0.2%. The S&P 500 gained less than 0.1%, and the Russell 2K led with a 0.9% rally. This morning, futures are sitting just north of flat in the premarket. S&P 500 contracts are up by less than 0.1% in early trading. Sponsored [See What One Ticker... One Trade... EVERY WEEK...Can Do for YOU]( New research proves that trading one ticker every week has had the ability to produce extraordinary gains... Including a rare 2,614% in under 11 days. See this groundbreaking new discovery for yourself. [Show me one ticker payouts.]( Premarket Highlights 🔎 ⚪ None It's a slow premarket with no major news to report. What to Watch Today 👀 Jobless Claims The weekly jobless claims report could influence today's trading session. Traders are still nervous about rate hikes in the coming months, and the state of the job market could be a key factor in the Fed's decision. A weak jobless claims number could actually get a positive reaction from the market because traders may believe it will reduce the chance of another rate hike in 2023. Major Earnings 💰 Accenture Plc [ACN] ... AM Jabil Inc. [JBL] ... AM Carmax Inc [KMX] ... AM Bassett Furniture Industries [BSET] ... AM Palatin Technologies [PTN] ... AM Dynatronics Corporation [DYNT] ... AM Vail Resorts, Inc. [MTN] ... PM Park City Group, Inc. [PCYG] ... PM Nike, Inc. [NKE] ... PM The Glimpse Group, Inc. [VRAR] ... PM Economy 🏗 - Initial jobless claims [Sep] ... 8:30a - GDP (revision) [Q2] ... 8:30a - Pending home sales [Aug] ... 10:00a Running Hot 🔥 Gainers - 7GC Holdings [VII] >> +40.1% - Inpixon [INPX] >> +40.0% - Cartesian Growth [RENE] >> +37.0% - Moleculin Biotech [MBRX] >> +18.5% Decliners - Brainstorm Cell Therapeutics [BCLI] >> (60.2%) - Ascent Solar [ASTI] >> (42.2%) - ShiftPixy [PIXY] >> (30.2%) - Near Intelligence [NIR] >> (27.1%) Trimble [TRMB] - Last Close: $49.21 An asset deal is rallying shares of Trimble. Minutes ago, agricultural equipment-maker AGCO Corp [AGCO] said it would acquire an 85% stake in Trimble's agricultural business for $2 billion cash. The deal implies an enterprise value of about $2.35 billion for the Trimble business unit. Morgan Stanley has committed $2 billion in bridge financing for the transaction, which is expected to close in the first half of 2024. TRMB is leading the S&P 500 with a 5.6% gain on the news. My Take: This is a pretty modest pop for TRMB. Plus, the stock is currently in a pronounced downtrend, and I doubt this catalyst will be enough to change its short-term trajectory. Bionomics [BNOX] - Last Close: $0.9850 Bionomics is skyrocketing after a clinical update. This morning, the tiny biotech firm said a Phase 2b ATTUNE trial of BNC210 for PTSD achieved its primary endpoint. Bionomics said the study resulted in "statistically significant" improvements in PTSD symptoms from baseline to week 12. The drug also met its two secondary endpoints by producing improvements in depressive symptoms and sleep conditions. In light of the study's findings, Bionomics said it's planning to advance BNC210 into registrational studies. This news catapulted shares of BNOX to enormous gains. Shares are currently up 561.1% on active trading volume. My Take: Woah, this is an outrageous rally. It could be the result of a targeted campaign designed to capitalize on the stock's tiny float. Either way, I expect a pullback at some point. Gritstone Bio [GRTS] - Last Close: $1.19 Gritstone Bio just landed a major contract. Late Wednesday, the tiny biotech said it was awarded a contract to conduct a Phase 2b comparative trial for its mRNA COVID-19 vaccine candidate. The contract was awarded by the Biomedical Advanced Research and Development Authority, and it's valued at up to $433 million. Gritstone said it will conduct a 10,000 participant trial to compare its vaccine candidate with an approved COVID-19 vaccine. GRTS is up 28.5% on the news. My Take: GRTS has a pretty ugly chart, but this sounds like it could be a game-changing deal for the company. I'm not jumping in just yet, but it's on my radar as a potential long-short biotech play. Baudax Bio [BXRX] - Last Close: $0.30 A key regulatory ruling is boosting shares of Baudax Bio. The tiny biotech announced this morning that the FDA had granted an orphan drug designation for its lead clinical candidate, TI-168. TI-168 is the company’s FVIII-specific therapy designed to reliably and effectively treat Hemophilia A patients with FVIII inhibitors. Baudax Bio Pres. & CEO Gerri Henwood said the decision "highlights the urgent need for innovation and new therapeutic options for Hemophilia A patients.” Henwood also said the company believes it can activate a Phase 1/2a clinical trial and advance the therapy to further clinical trials by early 2024. BXRX is up 77.4% in response to the announcement. My Take: BXRX is in a similar situation as BNOX, but this rally seems a lot more grounded. Either way, this tiny float stock has a long road ahead of it, and now might not be the right time to throw your hat in the ring. 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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