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- Stocks stumble in return from Juneteenth 📉
Stocks stumble in return from Juneteenth 📉
The Dow was the day's loan gainer, as U.S. stocks suffered broad declines in the return from the mid-week holiday.
Adam Garcia
June 20, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Welcome back from the mid-week break. Here’s what moved the market today.
Markets 📈
Stocks drifted lower in their return from the Juneteenth holiday. The Dow was the lone exception with a modest advance.
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Market-Moving News 📈
SpaceX Unveils Backpack-Sized ‘Starlink Mini’ Satellite Internet Antenna for $599 🚀
SpaceX introduced the Starlink Mini, a compact, portable internet antenna designed for high-speed, low-latency connectivity on the go. Priced at $599, the Starlink Mini is $100 more than the base "Standard" antenna but aims to become more affordable over time. SpaceX is offering a limited number of these antennas in an early access release.
Pricing & Plans 💸
In addition to the hardware cost, the Starlink Mini service costs $150 per month. This includes a $30 per month bundle on top of the $120 monthly Residential service. The "Mini Roam" service can be used anywhere in the U.S., with a data cap of 50 gigabytes per month and an additional charge of $1 per gigabyte for excess data usage.
Features & Specs 📐
Weighing just over 2 pounds and measuring 12 inches by 10 inches by 1.5 inches, the Starlink Mini is about the size and weight of a laptop. It is roughly half the size and a third of the weight of the Standard antenna. The Starlink Mini includes a built-in WiFi router, lower power consumption, and offers download speeds over 100 megabits per second.
Availability 🌍
SpaceX did not specify the exact delivery date for the Starlink Mini. However, Vice President of Starlink Engineering Michael Nicolls mentioned on social media that production is ramping up and the product will be available in international markets soon. CEO Elon Musk highlighted the ease of setup, claiming it takes less than 5 minutes.
Starlink’s Network 🌐
Since launching the service in 2020, SpaceX has expanded its Starlink network to include about 6,000 satellites, connecting over 3 million customers in 100 countries. Initially targeting consumer customers, SpaceX has broadened its market to include national security, enterprise, mobility, maritime, and aviation sectors, significantly disrupting the existing satellite communications industry.
Top Winners and Losers 🔥
Allurion Tech [ALUR] $2.60 (+145%)
said its Allurion Program produced average lean mass gains of 5.6% with an average 14% weight loss after just four months.
Griid Infrastructure [GRDI] $1.11 (+98.2%)
rebounded from a slump that began when it fell out of compliance with Nasdaq last week.
Zapp EVs [ZAPP] $2.36 (+72.1%)
announced stronger-than-expected financial results for the first half of 2024, and hiked its full-year delivery forecast.
Kaival Brands [KVAL] $2.87 (36.2%)
nosedived after announcing a registered offering of more than 838K shares early this morning.
Sonnet Bio [SONN] $1.04 (32.0%)
fell after announcing plans to evaluate potential strategic alternatives for its business after Monday’s closing bell.
Tempest Therapeutics [TPST] $2.01 (29.4%)
terminated a prior sales agreement and entered into a new open market sales agreement.
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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