Stocks edge higher in Monday debut 📈

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

U.S. benchmarks edged higher as investors looked forward to the upcoming Fed meeting later in the week.

This Game-Changing AI Play Could Skyrocket in June

This unknown $11 AI crypto could be poised to skyrocket as AI and blockchain converge.

With partnerships already in place with Google, Apple, Microsoft, Disney, and HBO, this coin is perfectly positioned to ride the wave of two massive bull markets.

Get an In-Depth Report HERE »

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

Market-Moving News 🔎 

Elliott Management Takes Aim at Southwest Airlines 🛫

Elliott Management, an activist hedge fund led by Paul Singer, has announced its intentions to shake up the leadership at Southwest Airlines [LUV +7.0%]  after revealing a $1.9 billion stake in the company.

Leadership Shake-Up 🔊
Elliott Management aims to replace Southwest’s CEO, Bob Jordan, and Chairman, Gary Kelly, with external candidates, citing a decline in the airline’s performance. The fund believes that Southwest, once regarded as a top-tier carrier, has fallen behind its peers, necessitating fresh leadership to navigate the challenges ahead.

Elliott’s Case 📉
According to Elliott’s presentation, Southwest’s shares have plummeted by over 50% in the past three years, contrasting sharply with the performance of other major airlines. The hedge fund points out a series of missed opportunities and a lack of innovation in revenue generation strategies as contributing factors to Southwest’s underperformance.

Southwest Responds 📄
In response to Elliott’s proposals, Southwest issued a statement expressing confidence in its current leadership and strategic direction. The airline emphasized its commitment to delivering long-term value for shareholders and maintaining a customer-centric approach to business operations.

Activist Landscape 🌐
Elliott’s move to target Southwest is part of a broader trend of activist investors seeking changes in corporate leadership to unlock shareholder value. With recent successful campaigns in various sectors, Elliott’s track record underscores its ability to drive significant transformations in companies it invests in.

As Elliott Management’s campaign unfolds, the future of Southwest Airlines hangs in the balance, with potential leadership changes signaling a new chapter in the company’s journey amidst a challenging and dynamic aviation landscape.

Big Tree Cloud [DSY] $3.61 (+89.0%)
rallying after successfully closing its business combination with Plutonian Acquisition Corp on Friday.

ICC Holdings [ICCH] $22.14 (+38.3%)
agreed to be acquired by Mutual Capital Group in an all-cash deal valued at $73.8 million that pays $23.50 per share.

Urban One [UONE] $2.90 (+36.7%)
swung to Q1 earnings of $0.15 per share after posting a $(0.06) loss a year earlier.

Tonix Pharma [TNXP] $2.21 (58.1%)
fell after enacting a 1-for-32 reverse stock split in order to stay in compliance with Nasdaq’s minimum bid price requirement.

TharImmune [THAR] $3.47 (33.2%)
announced a $1.65 million “at the market” offering agreement with Rodman & Renshaw LC.

Perion Network [PERI] $8.61 (30.1%)
slashed its Q2 and full-year 2024 revenue guidance after it received notice it would be excluded from Microsoft’s [MSFT +0.9%]  Bing search marketplace.

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.I. Pioneer Warns: “I thought we had
more time…”

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.

Click here to see his new video for yourself.