3 Triple-Digit Gainers to Watch Today 🚀

A trio of 100%+ movers is leading today's premarket gainers. Get a full report on all the pre-bell action inside...                                                                                                                                                                                                                                                                                                                                                                                                                 February 07, 2024 | [Read Online]( Chris Dinello February 07, 2024 Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Let's get ready to trade! Markets 📈 The market edged higher on Tuesday and quickly shook off its Monday slump. The small-cap Russ 2K outperformed after several days of steep losses. - S&P 500 [+0.2%] - Dow [+0.3%] - Nasdaq [<0.1%] - Russell 2K [+0.8%] S&P 500 futures are up by almost 0.2% in early trading. What to Watch Today: Today’s docket features more public appearances from regional Federal Reserve presidents and another crop of high-profile earnings reports. These events could sway investor sentiment in the trading session. [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. [Get their Latest Picks Here.]( Premarket Highlights 🔎 📉 NYCB Takes a Tumble to Junk Status In a late-night twist that's got Wall Street buzzing, Moody's Investors Service handed New York Community Bancorp [NYCB] a less-than-stellar report card, marking its credit rating down two whole steps right into the realm of junk. Yes, you read that right—junk status for the bank that's been hustling hard to keep its head above water after a series of bold moves and property misadventures. 🚨 Why the Downgrade? Moody's wasn't shy about calling out the big issues. They pointed to a cocktail of "financial, risk-management and governance challenges" at NYCB. This comes hot on the heels of the bank revealing a surprise loss for the quarter and taking a hatchet to its dividend, decisions that had investors raising eyebrows and stocks taking a dive. 📉 A Sharp Decline in Fortunes After the markets got wind of the downgrade, NYCB's shares took a nosedive, dropping a dramatic 15% in after-hours trading. The day's trading hadn't been kind either, with the stock hitting its lowest close since the Spice Girls were topping the charts back in '97, plummeting 22% in a single day. All in all, NYCB has seen more than half its market value vanish into thin air since it shared its quarterly woes. 🏦 Bumpy Acquisitions and Real Estate Woes The root of NYCB's troubles? A couple of high-stakes gambles that haven't quite paid off. Last year, NYCB took over Signature Bank [SBNY] and then went on to tie the knot with Flagstar Bank, catapulting its assets over the $100 billion mark. This leap into the big leagues means NYCB is now playing by a stricter set of rules, facing tougher regulatory scrutiny and tighter capital requirements. On top of that, the bank had to write off two hefty loans and stash away a chunk of change for potential future setbacks. In the cutthroat world of banking, NYCB's latest saga serves as a stark reminder that the path to expansion is fraught with pitfalls, especially when real estate and regulatory hurdles are part of the mix. Featured Earnings 💰️ - Alibaba Group BABA] ... AM - CVS Health [CVS] ... AM - Emerson Electric [EMR] ... AM - Hilton Worldwide [HLT] ... AM - Walt Disney Company [DIS] ... PM - Arm Holdings [ARM] ... PM - McKesson [MCK] ... PM - PayPal [PYPL] ... PM - O'Reilly Auto Parts [ORLY] ... PM - Allstate [ALL] ... PM Economy 🏗 - U.S. trade deficit [Dec] ... 8:30a - Fed Gov. Adriana Kugler speaks ... 11:00a - Boston Fed President Susan Collins speaks ... 11:30a - Richmond Fed President Tom Barkin speaks ... 12:30p - Fed Gov. Michelle Bowman speaks ... 2:00p - Consumer credit [Jan] ... 3:00p - CBO briefing on budget and economic outlook ... 3:00p Running Hot 🔥 Gainers - Aviat Network [AVNW] >> +21.7% - GRIID Infrastructure [GRDI] >> +16.5% - Renovao Biosciences [RENB] >> +16.4% Decliners - Snap [SNAP] >> (30.6%) - ADDvantage [AEY] >> (28.8%) - Triumph Grp. [TGI] >> (17.8%) Enphase Energy [ENPH] - Last Close: $100.51 This energy company published weaker-than-expected Q4 earnings results late Tuesday, but shares are rising on hopes of a brighter future. Enphase missed Wall Street’s estimates for earnings, revenues, and Q1 outlook in Q4, but management says it believes the worst is almost behind them. On the earnings call, Chief Executive Badri Kothandaraman said, “We think Q1 could be the bottom quarter. Europe is already showing early signs of recovery, and we expect the non-California states to bounce back quickly.” ENPH is leading the S&P 500 with a 16.0% gain on about 250K shares traded. My Take: ENPH’s earnings results were dismal, but this stock is down substantially from its 52-week high. If it’s really coming out of the tunnel, this move could mark the start of a swing trade setup. MicroCloud Holographics [HOLO] - Last Close: $1.51 China-based MicroCloud is rallying after it announced its attention to join the Communications Industry Association. The association operates in China under the Ministry of Industry & Information Technology, and membership could provide several notable benefits. As of Jan. 15th, HOLO had a short rate of 83.18%, so there’s a good chance the main reason for this big rally is a short squeeze. HOLO is a top mover with a 104.9% gain on over 8.5 million shares traded. My Take: HOLO’s press release doesn’t fit this rally. The short squeeze is the story to keep an eye on here. Glatfelter [GLT] - Last Close: $1.28 This engineered materials manufacturer has landed a deal to acquire Berry Global’s [BERY] health, hygiene, and specialties segment. Upon closing, BERY shareholders will own 90% of the combined company, and Glatfelter investors will own the remaining 10%. Berry will also receive a $1 billion cash proceed upon closing, which it says it will use to repay existing debts. Both boards have approved the deal, and it’s expected to close in the second half of 2024, pending shareholder approval and other customary conditions. GLT is up 100.7% on about 15 million shares traded. My Take: GLT is one of the day’s highest-volume movers, so it appears that the market is fairly pleased with this deal. MariaDB [MRDB] - Last Close: $0.2406 In Tuesday’s aftermarket, this tiny company filed a Form 8-K announced a new forbearance agreement with one of its creditors. MariaDB was set to default on a $26.5 million principle loan from RP Ventures LLC, but the two sides struck a last-minute forbearance deal on Feb. 5th. MRDB is this morning’s top stock with a 116.7% gain on about 14 million shares traded in today’s premarket. My Take: MRDB appears to be in financial trouble, and shares are locked in a brutal downtrend. Steer clear of this one, unless you have a rock-solid game plan. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Text ELITE to 47121 or [click here]( to get our alerts on your mobile device, and never miss another fast-moving stock! P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP. [Sign up for SMS]( Join Insider NOW to access to this report! [Get Instant Access Here]( [tw]( [ig]( [yt]( [tk]( *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 these emails. [Privacy Policy]( | [Terms of Service]( Update your email preferences or unsubscribe [here]( © 2024 Elite Trade Media LLC 1969 Alafaya Tr., Suite #247 Orlando, Florida 32828, United States of America