Stocks breakout to start the week 📈

Good Afternoon! 

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

Here’s what moved the market today.

Markets 📈

The stock market returned from the break on with a bang. The Nasdaq rocketed higher by more than two points, with the S&P 500 and Russell 2K following close behind. The Dow underperformed thanks to a sell-off in shares of Boeing [BA -8.0%].

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Market-Moving News 🔎 

🏌️‍♂️ Tiger Woods Ends Longstanding Partnership with Nike

Golf icon Tiger Woods has officially ended his 27-year partnership with Nike [NKE +1.5%], a relationship that has been a cornerstone of his brand and the sports apparel giant.

Woods announced this significant change on Monday via social media platform X, expressing gratitude towards Nike's founder Phil Knight and the team he worked with over the years.

📣 The Announcement

• Statement by Tiger Woods: In his message, Woods thanked Knight for his passion and vision, acknowledging the remarkable journey and the numerous Nike athletes he collaborated with.

• Nike's Response: Confirming the split, Nike posted a tribute to Woods on Instagram, reflecting on the "hell of a run" they had together.

🔍 Looking Ahead 
While the specifics of Woods' future endorsement plans remain under wraps, he hinted at an upcoming new chapter in his career.

The end of this long-term association marks a significant moment in sports marketing, given Woods' impact on the sport of golf and his influential role as a Nike ambassador.

Harpoon Ther. [HARP] $22.36 (+111.9%)
agreed to a $680 million buyout deal with Merck [MRK +0.1%] that will pay $23 for each share of HARP stock.

Ambrx Biopharma [AMAM] $27.47 (+101.5%)
announced a $2 billion buyout deal with Johnson & Johnson [JNJ +0.2%] that will pay $28 per share of AMAM stock.

Nkarta [NKTX] $10.73 (+77.0%)
provided an upbeat update to its corporate presentation to reflect certain business and strategic updates in a recent SEC filing.

Alset Capital [ACAX] $3.82 (62.9%)
announced the closing of its business combination with HWH Intl. Staring tomorrow, the stock will change its ticker to HWHW.

Dada Nexus [DADA] $1.71 (45.8%)
disclosed that securities litigation law firm Holzer & Holzer is investigating the company for compliance with federal regulations.

Solo Brands [DTC] $3.60 (38.9%) 
announced the departure of its president & CEO and lowered its fiscal 2023 outlook.

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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