Small-caps crash in down day for stocks 📉

Stocks pulled back from a higher open to close the trading session in the red.                                                                                                                                                                                                                                                                                                                                                                                                                 March 14, 2024 | [Read Online]( Good Afternoon! Hey, everyone. It's Adam from Elite Trade Club. Here’s what moved the market today. Markets 📈 Stocks retreated from a higher open to close Thursday’s session lower. The Russ2K sold off, while large-cap indexes took modest losses. - DJIA [-0.3%] - S&P 500 [-0.2%] - Nasdaq [-0.3%] - Russell 2K [-2.2%] [The Biggest Secret of the AI Boom]( NVDIA, AMD, and other chip makers may attract all the investor interest... Microsoft, OpenAI, and Amazon may attract all the AI media attention... But the truth is, without fixing one basic input, all AI companies and visions will go up in smoke. And one stock could be in perfect position to dominate this crucial market as the AI industry blossoms. [Get the Stock’s Ticker & an In-Depth Analysis on the NEXT PAGE »]( » Want an Ad-Free Experience + Top Growth Stock Picks? [Upgrade Now!]( Market-Moving News 🔎 🏗️ White House Taps Brakes on US Steel Deal The Biden administration has revealed its opposition to Japan-based Nippon Steel's [ADR:NPSCY -4.4%] bid to acquire United States Steel [X -6.3%] after a prolonged campaign of dissent, spotlighting the deal's national security implications and its potential impact on the U.S. steel industry. The bipartisan push against the $14.1 billion transaction underscores the deal's contentious nature, attracting criticism from both the United Steelworkers union and high-profile political figures, including former President Donald Trump. The White House’s emphasizes the significance of U.S. Steel's continued American ownership and operation, a sentiment echoing through the corridors of power in Washington. 💼 Industry Lobbying At the heart of the opposition is Cleveland-Cliffs [CLF -3.7%], an Ohio-based company with its own vested interests in the outcome. Having unsuccessfully attempted to acquire U.S. Steel itself, Cleveland-Cliffs finds itself potentially facing a strengthened competitor should Nippon Steel finalize the purchase. Cliveland-Cliffs CEO Lourenco Goncalves has contested the deal in the corporate arena, and now he’s rallying congress to go against the Japanese steel giant’s bid. He’s even teamed up with the United Steelworkers union to highlight potential job losses at U.S. Steel facilities across the country. 🗣️ Controversial Tactics Cleveland-Cliffs' campaign has extended to Capitol Hill, where it has worked to magnify union fears about the deal's implications for American workers. Moreover, Goncalves' approach to undermining Nippon Steel has drawn scrutiny, with reports of him adopting a mocking tone towards the Japanese firm's executives in private investor calls—a claim Cleveland-Cliffs has yet to address publicly. Goncalves' comments on a recent earnings call underscore the ongoing uncertainty surrounding the deal, signaling a determined effort to thwart Nippon Steel's acquisition ambitions. 📈 The Unfolding Saga As the battle over the future of U.S. Steel unfolds, the interplay of political lobbying, union advocacy, and corporate strategy highlights the complex dynamics at play in major industrial transactions. The Biden administration’s intervention marked a significant moment in the ongoing drama, but the ultimate fate of U.S. Steel remains uncertain. Top Winners and Losers 🔥 Psyence Biomedical [PBM] $1.59 (+52.8%) rebounded from a brief pullback that began after its Australia unit was granted approval for psilocybin trials in palliative care patients.. Turtle Beach [HEAR] $13.95 (+26.4%) posted stronger than expected full-year 2024 revenue guidance on its Q4 2023 earnings report. Veritone [VERO] $2.73 (+25.8%) beat the consensus estimate for revenues and posted stronger-than-expected full-year 2024 revenues guidance on its Q4 earnings report. Immuneering [IMRX] $2.90 (50.6%) posted new data from a Phase 1 trial of IMM-1-104 in rat-mutant solid tumors, and was downgraded to “neutral” by Guggenheim. Solowin [SWIN] $10.50 (46.9%) announced its strategic expansion into the private wealth management business early this morning. Rubleon [RMBL] $5.00 (29.5%) missed Wall Street’s revenue target and posted a $(7.81) per share operating loss on its Q4 earnings report. That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members! Thanks for reading. I'll see you at the next open! Best Regards, — Adam G. Elite Trade Club Text ELITESTOCKS 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 Mobile Alerts Now]( [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. 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