Stock market continues to slide 🛝

Good Afternoon! 

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

Apologies this is so late. We had a technical issue that wouldn’t allow us to send until we contacted our email provider and straightened it out.

Here’s what moved the market today.

Markets 📈

A strong earnings report from NVDA wasn’t enough to keep stocks from slipping further into the red on Thursday. U.S. indexes fell for the second day in a row, led by a sell-off in the Dow.

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Market-Moving News 🔎 

👎 Elon Musk Opposes Tariffs on Chinese EVs

Tesla CEO Elon Musk recently voiced his opposition to President Biden's decision to impose tariffs on Chinese electric vehicles (EVs). Musk emphasized that neither Tesla nor he had requested these tariffs and expressed surprise at their announcement.

Competing Without Tariffs 🌏
Addressing concerns during the VivaTech conference, Musk highlighted Tesla's competitiveness in the Chinese market, attributing its success to the absence of tariffs and preferential support. He firmly advocated for a tariff-free environment, stating, "I'm in favor of no tariffs."

No Incentives for EVs 🚫
In addition to opposing tariffs, Musk reiterated his stance against tax incentives for EVs, underscoring his preference for a level playing field across industries. He emphasized the need for equitable treatment, advocating for no incentives for either electric vehicles or traditional oil and gas sectors.

Warning of Global Dominance 🌐
Musk's recent remarks echo his earlier warnings about the potential dominance of Chinese EV manufacturers in the absence of trade barriers. In January, he cautioned that without trade restrictions, Chinese EV companies could significantly outperform competitors globally.

Commitment to Fair Competition 🏁
As Tesla navigates challenges in the EV market, including intensified competition and evolving consumer demands, Musk's advocacy for tariff-free trade underscores his commitment to fostering fair competition and driving innovation in the automotive industry.

OneMedNet [ONMD] $1.47 (+200%)
announced a five-fold expansion of its proprietary iRWD™ network and platform.

Binah Capital [BCG] $7.53 (+78.4%)
rallied for the second day in a row, extending its recent rebound from last week’s pull back.

Altamira Therapeutic [CYTO] $1.71 (+19.5%)
published highlights from its NASAR clinical trial on in seasonal allergic rhinitis on a leading allergy journal’s social media accounts.

Akanda [AKAN] $2.39 (34.7%)
announced a 1-for-40 reverse stock split in a Form 6-K filing today..

Jaguar Health [JAGX] $5.13 (33.2%)
registered for a $75 million offering of its common stock.

Critical Metals Group [CRML] $8.11 (27.2%)
registered for a primary offering of up to 7.75 million warrant shares and a secondary offering of 100 million common shares.

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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