Friday's hottest premarket stocks 🔥

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Friday! It's October 21st. I hope you have a great weekend. Now, let's get ready to trade! Markets 📈 US benchmarks closed Thursday's session lower as investors weighed corporate earnings and jobless claims data. The Nasdaq fell 0.9%, while the S&P 500 followd close behind with a 0.8% loss. The Dow fell 0.7%, and the small-cap Russell 2K sold off for 1.5%. Today, futures are down again in early trading. S&P 500 contracts are down 0.2%. Sponsored [Wall Street Caliber A.I. for the "Little Guy"]( For years, Wall Street's been using A.I. to gain an edge. Now, a top tech company is "leveling the playing field."   For over six years now, they've been developing a cutting edge A.I. algorithm that can predict future stock prices with astonishing accuracy. [Get the full story here]( Premarket Highlights 🔎 📈 Bitcoin Tops $29K as Crypto Rallies Bitcoin [$BTC] is eyeing the $30,000 mark, up 4.3% from Thursday, fueling optimism that the SEC might finally greenlight a Bitcoin ETF. The Big Players: Grayscale [GBTC], hot off a legal win, is fast-tracking plans to morph its Bitcoin Trust into an ETF. Meanwhile, Ripple [$XRP] leapt by over 6% as the SEC withdrew a lawsuit against Ripple Lab execs. Why This Matters: The SEC's actions are hinting at a more crypto-friendly stance, and investors are loving it. This could set the stage for further gains in the crypto market. Keep an Eye On: Any SEC moves related to Bitcoin ETFs. If approved, we're likely looking at another crypto surge. 📉 SolarEdge Casts Clouds on Solar Sector SolarEdge's [SEDG] grim Q3 outlook sent shockwaves through the solar sector. The Israel-based company plunged 29%, dragging down peers like Enphase Energy [ENPH] and SunRun [RUN]. Why It's Hot: CEO Zvi Lando blamed slow European demand for the slashed forecasts, while higher costs and interest rates are already putting the renewable-energy sector under pressure. The Bottom Line: SolarEdge, already the S&P 500's worst performer this year, is dimming hopes for a quick recovery in the solar industry. Keep an eye out; more clouds could be on the horizon. What to Watch Today 👀 Capping off a Busy Week for Earnings It's been a jam-packed week for corporate earnings, but the schedule slows down today. American Express is the biggest name on today's docket, followed by oil giant Schlumberger and some regional bank stocks. All of these reports will drop before the open, so they will have an impact on Friday's trading session. Major Earnings 💰 American Express Company [AXP] ... AM Schlumberger [SLB] ... AM Regions Financial Corporation [RF] ... AM Huntington Bancshares Incorporated [HBAN] ... AM Interpublic Group Of Companies [IPG] ... AM Autoliv [ALV] ... AM Comerica Incorporated [CMA] ... AM Euronet Worldwide [EEFT] ... AM First Bancorp. [FBP] ... AM Sensient Technologies Corporation [SXT] ... AM Economy 🏗 - Cleveland Fed President Loretta Mester speaks ... 12:15p Running Hot 🔥 Gainers - XORTX Therapeutics [XRTX] >> +105.9% - FaZe Holdings [FAZE] >> +39.5% - Hub Cyber Security [HUBC] >> +32.9% Decliners - Webuy Golbal [WBUY] >> (31.0%) - SolarEdge Technology [SEDG] >> (28.0%) - Enphase Energy [ENPH] >> (14.3%) Bio-Techne [TECH] - Last Close: $63.50 Bio-Techne is trending after an executive shake up. The mid-cap health tech stock announced Thursday morning that it has appointed Kim Kelderman as its CEO, effective Feb. 1st 2024. To prepare her for the role, Kelderman will serve as Chief Operating Officer on Nov. 1st, so she can assist in running the company's day-to-day operations. Kelderman will succeed form CEO Chuck Kummeth, who is set to retire after a ten-year run. Kummeth will serve as a senior advisor once Kelderman takes over. TECH nosed lower when the news broke yesterday, but shares are rebounding in today's premarket. TECH is leading the S&P 500 with a 3.4% gain in early premarket trading. My Take: TECH has had a rough couple of months. Its P/E is still pretty high, but it could have solid upside potential once this down-trend bottoms out. Lipella Pharmaceuticals [LIPO] - Last Close: $1.61 A regulatory decision is rallying shares of Lipella Pharma. Seconds ago, the tiny pharma firm said the U.S. FDA approved its investigational new drug application for LP-310 for Phase 2a, dose-escalation clinical trial. The study will assess LP-310's safety and efficacy as a treatment for oral lichen planus, which is a high morbidity condition with no effective treatment. CEO Jonathan Kaufman said the approval "demonstrates our ability to ... advance our value proposition by adding a phase-2, clinical-stage asset to our pipeline." Chief Medical Officer Michael Chancellor said, "We look forward to the opportunity to develop an effective treatment." LIPO is breaking out with an 85.8% gain, making it one of today's top premarket stocks. My Take: LIPO has been on fire the past couple of days. This rally almost looks like it's a little too hot, so watch out for a pullback. American Well Corp [AMWL] - Last Close: $0.9437 A newly-announced contract is boosting shares of American Well. The health care technology company landed a contract to "power the 'Digital First' transformation of the Military Health System with a hybrid care tech platform." Leidos Holdings [LDOS] was also chosen to participate in the contract by supplying its Amwell Converge hybrid care platform. Under the terms of the contract, American Well will provide automated care programs, including behavioral health and integrated telehealth solutions. If all options are utilized, the task order spans 22 months and can be worth up to $180 million, according to a statement from the companies. AMWL is one of this morning's top stocks with a 19.3% gain. My Take: Government contracts can be game-changers for tiny companies like AMWL. This could prove to be a pivot point for the down-and-out stock. Akso Health [AHG] - Last Close: $1.25 Akso Health is rebounding after a steep selloff. Previously, the Chinese tech company ran into some trouble with Nasdaq's minimum bid price requirement, but it just regained compliance on Monday. Akso enjoyed a brief pop after it announced Nasdaq's decision, and share prices reached as high as $2.11 per share. Unfortunately, the gains didn't last long. AHG pulled back and closed Thursday's session at just $1.25. However, it appears the pullback was overdone because shares are rebounding in today's premarket. AHG is up 16.8% in early trading. My Take: AHG is a Chinese company with a very small float, so this stock could be extremely volatile. Be very cautious chasing this one. 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. 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