A flat day for U.S. stocks 😑

U.S. benchmarks ended the day close to flat, but the S&P 500 and Nasdaq kept their recent win streak intact.

Author

Adam Garcia
April 24, 2024

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

Stocks closed Wednesday’s session with mixed results, but the S&P 500 and Nasdaq managed to extend their winning streak by a narrow margin.

  • DJIA [-0.1%]

  • S&P 500 [<0.1%]

  • Nasdaq [+0.1%]

  • Russell 2K [-0.4%]

Nvidia's trading volume nearly doubled in the last three months.

Now a 50-year Wall Street veteran is issuing a warning about the stock...

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

Market-Moving News 🔎 

🧑‍⚖️ U.S. Pushes to Sentence Binance Founder to 3 Years

U.S. Justice Department prosecutors are calling for a three-year prison sentence for Changpeng Zhao, the founder of Binance, citing violations of U.S. law on an "unprecedented scale."

Zhao, often referred to as CZ, previously stepped down as CEO of the world’s largest crypto exchange and pleaded guilty to failing to meet U.S. anti-money laundering standards. Alongside his legal troubles, Binance has agreed to a hefty $4.3 billion fine.

Significant Misconduct ⚖️
While initial guidelines suggested a maximum of 18 months in prison for Zhao, prosecutors argued late Tuesday for a lengthier sentence. They claimed that the "scope and ramifications of Zhao's misconduct were massive," significantly impacting U.S. national security.

Repercussions for Binance 📉
Prosecutors detailed how Zhao's failure to implement an effective anti-money laundering program at Binance allowed hackers, drug traffickers, and sanctions violators to launder hundreds of millions of dollars.

Defense Argues 🛡️
In contrast, Zhao’s defense team has requested that the court sentence him to probation only, pointing to his "extraordinary acceptance of responsibility" and a clean criminal record prior to these charges. They also noted Zhao’s efforts to transform Binance into a compliance leader in the cryptocurrency industry since the violations occurred.

Top Winners and Losers 🔥

reAlpha [AIRE] $1.16 (+92.0%)
announced the launch of a real estate’s first AI-powered, zero-commission smart buyer’s agent.

BranchOut Food [BOF] $2.08 (+77.7%)
landed a third contract with the “nation’s largest retailer” for its dehydrated fruit and vegetable products.

Amesite Operating [AMST] $3.40 (+70.0%)
launched a beta release of its NurseMagic proprietary app designed specifically for nurses.

Neo Concept Intl. [NCI] $2.34 (75.3%)
retreated a day after rallying in its Nasdaq debut.

Evotec ADR [EVO] $5.23 (31.6%)
posted a disappointing full-year revenue forecast.

NewGenIVF [NIVF] $1.55 (30.4%)
pulled back after news of a potential reverse merger with European Wellness Investment Holdings sparked a big rally on Tuesday.

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 radical new A.I. development is about to blindside millions of Americans.

This early A.I. pioneer just issued an urgent warning explaining everything.