Closing Bell Roundup: Nov. 15th, 2023

Good Afternoon! 

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

Today is Thursuday, November 16th. I hope you had a great trading session.

Here's what moved the market today:  

Markets 📈

Stocks closed Thursday with mixed results. The S&P 500 [<0.1%] and Nasdaq [<0.1%] ended the day close to flat, while the Dow [+0.4%] edged lower, and the small-cap Russell 2K [-1.4%] sold off.  

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Today's Market-Moving News 🔎 

🛍️Walmart Feels the Heat from Food Prices

As Walmart unveils its latest financial report card, its shares took a bit of a dive. Investors seem jittery about what lies ahead for the retail mammoth, given the current economic climate.

🍽️ The Boss Speaks Out:

McMillon didn't sugarcoat it – food prices are tough on shoppers. Costs have climbed not just over the past year, but even more sharply when looking at a two-year comparison. Translation? Customers are feeling the pinch.

🥩 Meaty Matters:

Meat prices? Sky-high. But it's not all bleak. Dairy, eggs, chicken, and seafood are easing up a bit, offering a much-needed breather.

🙏🏻 Hoping for Relief: 

McMillon's eyes are on dry grocery and consumables. Any price drop there could be a game-changer, giving shoppers more wiggle room to spend on general merchandise.

🔮 The Big Picture: 

Inflation's bite is clear in the aisles of Walmart. While some relief is trickling in, the CEO's outlook suggests a hunger for more significant price dips in key areas.

As food costs dictate consumer spending, Walmart, like its customers, is navigating a landscape where every penny counts.

Safe & Green Development [SGD] $3.03 (+531.2%) requested to withdraw from a previously issued registration statement for a direct offering of its common stock.

Alpha Technology [ATGL] $29.83 (+136.1%) has been steadily gaining since completing its Nasdaq IPO earlier this month.

WaveDancer [WAVD] $2.79 (+76.5%) announced a definitive merger agreement with privately-held Firefly Neuroscience.

HNR Acquisition [HNRA] $3.00 (55.6%) continued to slide after closing its merger with Pogo Resources.

Timber Pharmaceuticals [TMBR] $1.25 (46.5%) failed to file its Form 10-Q quarterly earnings report on time.  

Sigma Additive Solutions [SASI] $3.07 (30.8%) tumbled after reporting its earnings results earlier this week.

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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