Closing Bell Roundup: Nov. 20th, 2023

Good Afternoon! 

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

Happy Monday! It’s November 20th. I hope you had an excellent weekend.

Here’s what moved the market today.

Markets 📈

Stocks rallied to start the trading week, with the Nasdaq [+1.1%] leading the way. The Dow [+0.5%] and S&P 500 [+0.7%] also notched solid gains, along with the small-cap Russell 2K [+0.5%].

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Market-Moving News 🔎 

🤖 Altman's OpenAI Exit Sparks Employee Uprising

The tech world is still reeling from the shockwave of Sam Altman's exit from OpenAI, and the AI exec’s former employees are in an uproar.

🔫 The Ultimatum

Over 500 OpenAI employees are up in arms. Their demand? The board must go, and Altman (alongside former President Greg Brockman) needs to be back in the driver's seat.

They're not just grumbling over coffee – they've penned a letter to the board laying it all out.

🔄 Musical Chairs at the Top 

The CEO chair at OpenAI isn't getting cold, with former Twitch head honcho Emmett Shear stepping in as interim chief.

Before Shear, Mira Murati had a brief stint in the hot seat post-Altman.

🎢 Structural Drama 

OpenAI's unique setup – a nonprofit governing body with a board at the helm – has been a key driver in this unfolding narrative.

In summary, OpenAI's current chapter is more than just corporate reshuffling – it's a pivotal moment that could shape the future of AI, influence investor confidence, and redefine industry leadership.

Cardio Diagnostics [CDIO] $2.21 (+123.2%) published a study on its PrecisionCHD test in the Journal of the American Heart Association.

Mira Pharmaceuticals [MIRA] $4.65 (+40.0%) signed a licensing deal with Miralogxto to develop its Ketamir-2 ketamine analog.

YPF SA [YPF] $15.01 (+39.8%) rallied after business-friendly candidate Javier Milei won Argentina’s presidential election over the weekend.

YPF gained an additional 20% after we sounded the alert this morning.

Paxmedica [PXMD] $0.98 (44.0%) priced a $7.0 million public offering of its common stock at $1.30 per share.

Safe & Green Development [SGD] $2.83 (32.7%) pulled back after closing out last week with back-to-back rallies.

Plus Therapeutics [PSTV] $1.90 (27.7%) published new interim data from a Respect-GBM Phase 2 trial.

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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