S&P 500 & Nasdaq get shutout 0️⃣

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

The S&P 500 and Nasdaq closed lower on Friday, capping off a shutout trading week where neither index managed to post a gain. The Dow was, once again, the exception with a small gain.

NEW: AI Breakthrough to Send Economy Skyrocketing by $200 Trillion?

The U.S. federal government is rushing to invest in a new AI breakthrough that experts estimate is set to explode the economy by $200 trillion.

For some perspective... that would be 30X bigger than the impact of the computer... 65X bigger than the impact of the internet... and 822X bigger than the impact of the assembly line!

You can secure a share of this 100X boom by making THIS move right now…

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

Market-Moving News 🔎 

🇺🇸 Trump Media vs Citadel: Naked Short-Selling Beef

Shares of Trump Media [DJT +9.6%], the parent company of Truth Social, are experiencing fluctuations in another tumultuous trading session, amid ongoing volatility that has seen the stock decline by 46% in April. Despite these challenges, the stock showed a modest recovery of about 3% in recent trading.

Allegations 📉 
Trump Media's CEO, Devin Nunes, escalated the situation by sending a letter to Nasdaq CEO Adena Friedman, requesting intervention to prevent illegal naked short selling and ensure transparency from trading firms regarding their short positions. This move underscores the company's concerns over practices that they believe might be undermining their stock's performance.

Citadel Rebuke 🚫 
Responding to the allegations, a spokesman for Citadel Securities, one of the firms implicated in Nunes’ letter, vehemently denied the accusations. The spokesman criticized Nunes' leadership and deflected the blame back onto him, suggesting that such claims were unfounded and reflective of poor management. The firm emphasized its commitment to integrity and professional standards.

Return Fire 🔥 
In a counterstatement, a spokeswoman for Trump Media attacked Citadel Securities, highlighting the firm's history of fines and censures related to various offenses, including issues linked to naked short selling. The statement accused the firm of compromising retail investors' interests, positioning it as an unsuitable critic of business integrity.

Regulatory Overview 🏛 
Amid these heated exchanges, a Nasdaq spokeswoman reaffirmed the exchange's dedication to maintaining market integrity and supporting efforts to combat illegal trading activities. The enforcement of these regulations primarily falls under the jurisdiction of the SEC and FINRA, highlighting the complex regulatory landscape that governs stock market activities.

Market Perception 🌐 
This conflict not only affects investor sentiment but also draws attention to the broader implications of market manipulation accusations.

If Trump Media’s accusations are tru, it could significantly undermine public and investor trust in market fairness and corporate governance.

Top Wealth Group. [TWG] $3.73 (+101.6%)
rallied after announcing the close of its $8 million IPO in Thursday’s aftermarket.

Mobile Health Solutions [MNDR]
$27.27 (+33.8%)
has been on an absolute tear since debuting on the Nasdaq last week. Shares are up 81.8% over the past 5 trading sessions.

NKGen Biotech [NKGN] $1.11 (+28.6%)
announced it will present new data on its SNK01 cell therapy for neurogenerative diseases at an upcoming industry conference.

Sunshine Bio [SBFM] $1.76 (46.8%)
said it received Health Canada approval to commercialize its first biosimilar product, Niopeg, in the country.

Graphjet Tech [GTI] $6.43 (33.0%)
said CFO Tham Choi Kuen has resigned, effective immediately, citing health reasons.

Golden Sun [GSUN] $3.73 (23.8%)
implemented a 1-for-10 reverse split of its shares at the open of today’s trading session.

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.

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.