Slide continues in weekly opener 📉

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

The stock market continued to downtrend on Monday, extending its slide from Friday’s session. The small-cap Russ2K notched a small gain.

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Market-Moving News 🔎 

🇺🇸 Trump’s Truth Social to Trade as DJT on NASDAQ

Trump Media & Technology Group Corp., owning the Truth Social app, is set to debut under the ticker symbol DJT on NASDAQ this Tuesday. The move follows a successful merger with Digital World Acquisition Corp (DWAC), marking a significant step for former President Donald Trump’s foray into social media.

Shareholders Greenlight Merger 🤝
The merger, approved by a majority of DWAC shareholders, was finalized Monday, catalyzing a 25% surge in DWAC's share price. This rebound recouped losses experienced post-approval last Friday, spotlighting investor optimism around the new public entity.

Trump's Major Stake 🚀
Trump, holding a majority stake of at least 58%, sees his interest in the company now valued at $3 billion or more, based on Monday's share prices. However, regulations prevent him from selling any shares for the next six months.

Leadership and Vision Forward 🔍
Devin Nunes remains at the helm as CEO of Trump Media, with the existing management team continuing to lead. The company aims to challenge Big Tech's dominance on the internet, promising to be a bastion for free speech and a counter to increasing censorship efforts.

Board Dynamics Shift 🔄
With the transition to a public company, former DWAC CEO Eric Swider will join Trump Media as a director, enhancing the strategic oversight as the company pursues its ambitious goals.

Landos Bio [LABP] $21.40 (+173.3%)
agreed to be acquired by AbbVie [ABBV <0.1%] for $20.42 per share in a $137.5 million all-cash deal.

Digital World SPAC [DWAC] $49.95 (+35.2%)
will begin trading under ticker symbol DJT and change its name Trump Media & Technology Group on Tuesday, following the SPAC’s successful merger with the TRUTH Social parent.

Altamira Therap [CYTO] $2.35 (+35.8%)
announced a collaboration with Univercells Group to assess the SemaPhore platform for mRNA vaccine delivery.

TRxADE Health [MEDS] $9.51 (40.8%)
suffered a major pullback after it paid out a special dividend of $8 per share late last week.

Australian Oilseeds [COOT] $1.73 (30.2%)
fell after its recent SPAC merger with Edoc Acquisition Corp.

Vimeo [VMEO] $3.95 (27.2%)
took sharp losses despite no apparent news to explain the move. Earlier this month, the company was reportedly discussing financing with several banks.

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

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