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- Stocks climb to start short trading week ๐
Stocks climb to start short trading week ๐
The Nasdaq set a new record high as its hot streak continued despite the three-day break.
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
I hope you had a great weekend.
Hereโs what moved the market today.
Markets ๐
Stocks opened the week with a mixed bag of results. The Nasdaq continued its hot streak with a small gain, while the Dow notched a minor loss.
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This stock could break out to massive gains on the back of what could be the yearโs top-performing asset.
Itโs not gold, itโs not silver - heck, itโs not even AI stocks.
Itโs crucial to the success of AI and other advanced technologies, and this tiny stock could be in ideal position to cash in.
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Market-Moving News ๐
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/299629d0-ac1c-4092-8272-aee7dcd10145/Screenshot_2024-05-28_at_2.16.37_PM.png?t=1716927429)
HubSpot Shares Surge on Google Deal Rumors ๐
HubSpot shares soared 8% on Tuesday following rumors of a potential acquisition by Alphabet.
Rumor Rally ๐
Reports of the potential deal first emerged in early April, when Reuters revealed that Alphabet was consulting with advisors about making an offer for HubSpot. Bloomberg later confirmed that talks were progressing, further fueling speculation. According to sources, the deal could be an all-stock transaction.
Record-Breaking Deal ๐
If completed, this acquisition would be Alphabet's largest ever, far surpassing the $12.5 billion purchase of Motorola Mobility in 2011. Following the stock surge on Tuesday, HubSpot's market cap reached approximately $33 billion, making it a significant acquisition target for Google.
Strategic Fit ๐ง
HubSpot, known for its marketing and customer relationship management (CRM) tools for small- and medium-sized businesses, would complement Google's existing services. The acquisition could fill a crucial gap in Google's portfolio, potentially bolstering its marketing technology and cloud revenue streams.
Market Reaction ๐
Prior to Tuesday's gains, HubSpot shares were up slightly for the year. The surge pushed the stock price to $643.72 as of Tuesday afternoon. HubSpot's stock had already doubled in value over the course of 2023, reflecting strong investor confidence.
No Comment ๐๏ธ
Alphabet did not immediately respond to requests for comment regarding the potential deal. Similarly, HubSpot declined to comment on the rumors, leaving the market to speculate on the outcome of these discussions.
Top Winners and Losers ๐ฅ
Aerwins Tech [AWIN] $9.14 (+143%)
reported Q1 earnings of $12.12 per share after posting a loss of $(6.58) for the year-earlier quarter.
Insmed [INSM] $48.06(+118%)
published new data showing brensocatib met its primary endpoint in a Phase 3 trial in bronchiectasis lung disease patients.
Calliditas Therap. [CALT] $37.95 (+69.2%)
board of directors recommended shareholders approve a USD$1.06 billion cash buyout offer from Japanese pharma firm Asahi Kasei that pays 418 Swedish Krona (USD$39.67) per share.
Finch Therapeutics [FNCH] $1.21 (+32.7%)
fell after publishing its Form 8-K current report early this morning. .
Sintx Technologies [SINT] $9.28 (+31.3%)
continued to fall after announcing a 1-for-200 reverse stock split last Thursday.
Summit Therapeutics [SMMT] $2.39 (29.2%)
reported a high rate of treatment emergent adverse events in a Phase 3 clinical trial of ivonescimab plus chemotherapy for lung cancer.
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,
โ Adam G.
Elite Trade Club
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