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- Stocks hold ahead of Friday jobs report 🛑
Stocks hold ahead of Friday jobs report 🛑
U.S. indexes ended the day close to where they opened it.
Adam Garcia
June 06, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
Stocks entered a holding pattern on Thursday as investors await Friday’s crucial May jobs report. Most U.S. indexes closed with less than 0.1% of where they opened the session.
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Market-Moving News 🔎
GameStop Soars on ‘Roaring Kitty’ Livestream Hype 🚀
GameStop [GME +47.4%] shares experience a dramatic surge, jumping over 40%, following news of an upcoming YouTube livestream hosted by the infamous "Roaring Kitty," also known as Keith Gill. With anticipation building for his first livestream in nearly four years, traders eagerly await a potentially bullish discussion on Gill's massive GameStop stake.
Roaring Kitty Returns 🐱
Keith Gill, the investor behind the Roaring Kitty persona, sets the stage for his highly anticipated livestream scheduled for noon Friday. Having previously garnered attention for his deep dive into GameStop's investment thesis in 2020, Gill's resurgence online sparks renewed excitement among retail investors.
GameStop Rally 📈
GameStop’s stock surges over 47%, reaching session highs amid fervent anticipation for Roaring Kitty’s livestream. With trading briefly halted due to volatility, the stock's price doubles within the week, fueled by speculation and heightened investor interest.
Buzzing with Anticipation 🐝
As excitement mounts, over 10,000 eager viewers await Roaring Kitty's livestream, flooding the chat box with anticipation and speculation. The event promises to provide insights into Gill's investment strategy and could potentially influence market sentiment towards GameStop.
Gill’s Massive Position 💼
Gill's recent online activity reveals a significant stake in GameStop, with holdings of five million common shares and 120,000 call options, valued at over $200 million. Speculation arises regarding the potential exercise of call options, potentially elevating Gill's stake to 17 million shares, with a value exceeding $1 billion if GameStop’s stock reaches previous highs.
Top Winners and Losers 🔥
Virax Biolabs [VRAX] $1.97 (+84.1%)
moving higher amid a massive spike in trading volume this week, although there has been no obvious news to explain the move.
QXO [QXO] $220.00 (+68.6%)
closed a previously-announced $1 billion investment from a group of private equity firms.
FibroBiologics [FBLG] $10.31 (+53.8%)
will present its wound care and psoriasis programs at the Extracellular Matrix Pharmacology Congress in Copenhagen, Denmark, from June 17-19, 2024.
Plutonian Acquition [PLTN] $2.43 (58.1%)
announced the closing of its business combination with Big Tree Cloud under a previously-announced SPAC deal.
Actelis Networks [ASNS] $1.97 (47.0%)
retreated after announcing an agreement for the immediate exercise of certain outstanding warrants for gross proceeds of $3 million.
Ventyx Bio [VTYX] $3.29 (37.7%)
published disappointing data from a preclinical study of VTX3232.
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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