- Elite Trade Club
- Posts
- The Biggest Winners (and losers) Today.
The Biggest Winners (and losers) Today.
Adam Garcia
July 10, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
Another strong showing as stocks again closed at record highs with Nvidia leading the charge.
|
|
Gold stocks could experience significant growth if the precious metal continues its upward trend in 2024.
With a strategic focus on royalties and streaming, this company is well-positioned in Nevada, one of the world's premier gold mining regions.
As market conditions become increasingly favorable, don't miss out on learning about this promising opportunity.
» Want an Ad-Free Experience + Top Growth Stock Picks? Upgrade Now!
Market-Moving News 📈
HubSpot Shares Tumble 12% Amid Report of Alphabet's Waning Interest
Shares of HubSpot plummeted 12% on Wednesday following a Bloomberg report that Alphabet, Google's parent company, has decided not to pursue the acquisition of the software firm. Sources familiar with the matter indicated that while there were initial talks earlier this year, the discussions never progressed to the due diligence stage.
Both HubSpot and Alphabet declined to comment on the report.
🚫 Tech Giants Facing Regulatory Pushback
This development follows a trend of regulatory pushback on major tech acquisitions. Recently, Amazon called off its acquisition of iRobot, and Microsoft took nearly 20 months to finalize its purchase of Activision Blizzard due to regulatory scrutiny.
💼 HubSpot’s Role and Potential Acquisition Benefits
HubSpot specializes in software that aids small and medium-sized businesses in automating their marketing efforts and reaching potential customers. An acquisition by Alphabet would have bolstered Google's business software portfolio, alongside its cloud services and other non-cloud ventures. Notably, Google's cloud division turned profitable in 2023 after years of significant investment.
📈 HubSpot’s Impressive Growth
HubSpot has been on a strong growth trajectory, outpacing Google with over 20% revenue growth in the past six quarters and more than 30% prior to that. In the first quarter alone, HubSpot's sales surged 23% to $617.4 million. CEO Yamini Rangan, who took the helm in 2021, recently highlighted the challenging business environment, noting that customers are increasingly seeking proof of concept before making purchase decisions.
🔍 Alphabet’s Growth and Challenges
In contrast, Alphabet has struggled to maintain similar growth, with its latest quarterly revenue rising by 15% to $80.54 billion, marking its best performance since early 2022.
Alphabet's acquisition strategy has faced significant hurdles, including regulatory scrutiny from the U.S. Justice Department and state attorneys general, who allege that Google's exclusive agreements with phone manufacturers and browser companies violate anti-monopoly laws.
💰 Market Cap Comparison
Despite the recent decline, HubSpot's market capitalization stands at $25 billion, making it double the size of Google's largest acquisition to date, the $12.5 billion purchase of Motorola Mobility in 2011.
Top Winners and Losers 🔥
Kazia Therapeutics Limited ADR [KZIA] $0.67 (+248%)
KZIA was the biggest gainer in the market today. Shares are up due to positive clinical trial results.
Inspire Veterinary Partners Inc. [IVP] $7.40 (+110%)
It is unclear why IVP is running today. The company announced the closing of a public offering, which is usually bearish for stocks.
Antelope Enterprise Holdings Ltd [AEHL] $5.46 (+51%)
AEHL rallied today due to a positive earnings release.
Zapp Electric Vehicles Group Ltd [ZAPP] $9.35 (48%)
ZAPP was on our top gainers list yesterday afternoon, but just like that, the momentum has shifted. After a massive rally from under 40 cents to almost $20 dollars, this one is pulling back.
AFC Gamma Inc [AFCG] $8.59 (26%)
AFC Gamma is down after spinning off some of its real estate assets into a REIT that trades under the ticker SUNS
SeaStar Medical Holding Corp [ICU] $8.07 (38%)
Shares tanked after the company announced a $10 million registered direct offering.
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!
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.
A radical new A.I. development is about to blindside millions of Americans.
This early A.I. pioneer just issued an urgent warning explaining everything.