Dow sells off as stocks sink lower 📉

Good Afternoon! 

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

I hope you had a great weekend.

Here’s what moved the market today.

Markets 📈

U.S. stocks edged lower on Wednesday, led by a sell-off in the Dow and Russell 2K.

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Market-Moving News 🔎 

Stellantis CEO Says $25K Jeep EV Coming Stateside Soon 🚗

Stellantis plans to introduce a $25,000 all-electric Jeep in the U.S. soon to attract mainstream consumers amid slower-than-expected EV adoption, CEO Carlos Tavares said Wednesday. The vehicle will be priced similarly to Stellantis' Citroen e-C3 SUV.

Affordable Electric Jeep 🔌
Tavares announced at a Bernstein investor conference that the new Jeep will emulate the low-cost Citroen e-C3, leveraging Stellantis' global engineering expertise. The goal is to bring a safe, clean, and affordable BEV to the U.S. market.

Market Impact 🌍
Jeep’s first U.S. all-electric vehicle, the Wagoneer S SUV, is expected later this year, with another model called the Recon also anticipated soon. The new $25,000 EV aims to compete with affordable models from Chinese automakers like BYD and Nio.

Competitive Landscape 🌐
Tavares discussed the challenges of achieving cost parity between electric and traditional vehicles within three years to compete with Chinese EVs. He cautioned against relying on protectionist measures, stating they won't stop competition but may only delay it.

Brand Engagement [BNAI] $2.64 (+107%)
appointed a new co-CEO and closed a $4.95 million public placement.

AST SpaceMobile [ASTS] $9.02 (+69.2%)
secured a $100 million commitment from Verizon [VZ -0.6%] as part of a new direct-to-cellular partnership

Nano Nuclear Energy [NNE] $6.91 (+25.8%)
said it will present at the American Nuclear Society’s upcoming annual conference in Las Vegas Jun. 16th to 19th.

Amplitech Group [AMPG] $1.05 (+22.2%)
published its Q1 financial results after Tuesday’s closing bell in a Form 10-Q filing.

Aerwins Tech [AWIN] $5.60 (+38.7%)
pulled back after a 143% rally on Tuesday following a blowout Q1 earnings report.

Globavend [GVH] $1.43 (10.0%)
announced a non-binding memorandum of understanding to acquire Top Logistics Australia. Shares initially jump out to a 90% premarket gain on the news, but the rally collapsed during the 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

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