A Biotech Stock That Rocketed 51% Today

Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

The three major indexes all closed the day in positive territory as the markets started off in the green for the second half of 2024.

Unlock High-Impact Investments in Autoimmune Care

Discover a cutting-edge treatment poised to revolutionize autoimmune disease care.

This advanced therapy uses the body's own immune cells to target and destroy the root causes of conditions like AL Amyloidosis.

For investors, this represents a unique opportunity to support a potential curative solution that could dramatically improve patient outcomes.

Click here to learn more about this thrilling investment opportunity.

» Want an Ad-Free Experience + Top Growth Stock Picks? Upgrade Now! 

Market-Moving News 📈

Chewy Executives Alarmed as Roaring Kitty Reveals Major Stake 📈 

Stock influencer Keith Gill, known as "Roaring Kitty," recently unveiled a surprising 6.6% stake in Chewy (CHWY), causing alarm among the executives of the U.S. pet products company. This marks Gill's first known investment outside of GameStop, with a notable connection being Ryan Cohen, the founder of Chewy and current CEO of GameStop. Gill has previously praised Cohen in his social media posts. Cohen founded Chewy and sold it in 2017.

Chewy executives are concerned about the potential volatility in their stock driven by Gill's large following of individual investors. This volatility could deter asset managers who are current shareholders. Despite these concerns, there has been no communication between Chewy's leadership and Gill. On Monday, Chewy's shares briefly rose to $30 but reversed those gains, closing down 4.8% at $25.92, with over 54 million shares traded, more than three times the 25-day moving average volumes.

A filing with the Securities and Exchange Commission (SEC) revealed that Gill purchased 9 million shares of Chewy, valued at approximately $245 million at the Friday closing price of $27.24, making him the third-largest shareholder of the company according to LSEG data. It remains unclear if Gill liquidated any of his GameStop position to fund the Chewy stake. GameStop shares dropped 6% on Monday but have seen a 33% increase so far this year.

Gill's investment strategy, often revealed through social media posts, required an SEC filing in this case because his investment exceeded 5% of Chewy's outstanding shares. The SEC filing indicated that he bought the Chewy stake on June 24, just three days before posting a picture of a puppy on social media, which briefly sent Chewy shares to a near one-year high. Meanwhile, GameStop investors have sued Gill, accusing him of a "pump-and-dump" scheme. Gill has denied these allegations, maintaining that he was always clear about the aggressive nature of his investing style.

Senti Biosciences Inc. [SNTI] $0.42 (+51%)
Awarded California Institute for Regenerative Medicines (CIRM) Grant for Clinical Development of Logic Gated CAR-NK Cell Therapy

Ocean Power Technologies [OPTT] $0.28 (+41%)
Momentum continues for this penny stock. OPTT was trading as low as 11 cents last week and has rallied after a string of positive press releases.

POET Technologies Inc [POET] $2.77 (+34.)
This cheap stock is continuing to rally this week. Last week the company announced that they had won “Best Optical AI Solution” in the 2024 AI Breakthrough Awards Program.

Above Food Ingredients Inc. [ABVE] $4.72 (62%)
Today was the day that Above foods “de-spacd” and investors were not liking the deal, sending shares plummeting on their first trading day.

Blue World Acquisition Corp [BWAQ] $4.24 (51%)
Another SPAC that saw huge redepmtions. At this point we can be sure that the space bubble has popped.

Aspira Women's Health Inc [AWH] $0.99 (34%)
The company announced a 1.9m financing that sent shares headed lower today.

Heres to a productive Monday. If you got this far, write me back and let me know what stocks you are keeping an eye on.

Who knows, I may just feature it in tomorrow newsletter!

Thanks for reading. I'll see you at the next open! 

Best Regards,

— Adam Garcia
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.I. Pioneer Warns: “I thought we had
more time…”

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.

Click here to see his new video for yourself.