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- EV Company Takes Off With 60% Gains
EV Company Takes Off With 60% Gains
Adam Garcia
October 03, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
The market slid today as new inflation fears and Middle East worries arose. The Russell 2K stumbled the most, dropping over half a point.
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📈 Want first dibs on our next big stock pick? Check out our insider stock picks with Elite Trade Club Insider.
Gold
Gold prices are soaring, and one small-cap gold stock could be positioned for massive gains as the market continues its upward trend.
This company holds over 4 million ounces of gold reserves, giving it a solid foundation for growth. Most investors haven't caught on yet, providing an early window to capitalize on shares currently priced around $0.25.
With experienced leadership and strategic plans to expand production, this stock stands out in the competitive gold mining space, offering significant potential for early investors.
The gold market is showing no signs of slowing down, and this opportunity could be a game-changer.
Market-Moving News 📈
Dockworker Strike Sparks Debate on Automation and Job Security
The recent dockworker strike, driven by demands for better pay and restrictions on automation, is a clear example of growing concerns about job security in the face of advancing technology. Without policies that strike a balance between tech progress and workers' rights, more labor unrest is likely.
Unionized workers across various industries, from port workers to creatives, are increasingly taking matters into their own hands, determining how technology will affect their jobs rather than leaving it solely to employers. The ongoing wave of strikes in industries like healthcare, entertainment, and manufacturing has had a ripple effect, encouraging others to take action amid a supportive public and political environment.
The impact of the dockworkers' strike is far-reaching, with potential disruptions to the economy, including delays in cargo shipments and increased costs for consumers. Critics argue that the resistance to automation is shortsighted, but many believe that a compromise can be reached through worker retraining programs. The conversation about automation is also expanding beyond manual labor, as experts warn that no sector is immune to the effects of technological advancement. The reality is that everyone may eventually face the challenges posed by automation in their own industries.
New AI Challenger Emerges as Cerebras Enters the Chip Race
The rapid growth of artificial intelligence has dominated financial markets since late 2022, with companies like Nvidia leading the way in AI semiconductor development. While Nvidia has been a major player in this sector, with an estimated market share nearing 95%, the field is set to become more competitive.
AI startup Cerebras Systems recently filed for an initial public offering, drawing significant interest from investors. Though details of the IPO are still under wraps, Cerebras' potential to challenge industry giants like Nvidia and AMD has piqued curiosity. The company claims to have developed innovative technology that could disrupt the market, particularly with its unique wafer-scale engine, which boasts faster processing capabilities and improved energy efficiency.
However, Cerebras’ future in the AI chip space remains uncertain, as the competition is fierce. Nvidia continues to dominate, with AMD trailing behind, while Intel has also made attempts to carve out a small share. Despite impressive revenue growth and new product releases, Cerebras faces substantial financial challenges as it works to position itself in the market.
With its IPO in the works, all eyes are on Cerebras to see if it can reshape the AI chip industry and compete with the established leaders.
Bank of America Outage Leaves Customers in the Dark
This week, Bank of America became the latest in a string of major companies to experience technical outages, following recent disruptions at Spotify, Verizon, and PlayStation. On Wednesday, several customers reported issues accessing their bank accounts, with balances either showing as $0 or completely missing from their accounts. This unexpected outage caused confusion and frustration for many users.
Reports of the problem surged online, with social media posts on platforms like Reddit and X from users who couldn't view their account balances, though some noted that any debts or amounts owed were still visible. By mid-afternoon, the bank's mobile app displayed messages informing customers that certain accounts and balances were temporarily unavailable. While some users regained intermittent access, it was unclear how widespread the issue was or how many people were affected.
Bank of America confirmed that the technical problem has since been resolved. However, with 58 million customers using its digital banking services, the outage highlighted the ongoing challenges banks face in maintaining reliable online platforms to meet the growing demand for seamless digital access. This disruption serves as a reminder of the reliance on technology for managing financial lives.
Pre-Election Market Moves
With the upcoming election, key stocks are expected to move significantly in anticipation of the results.
History has shown that certain stocks can surge even before the new president officially takes office, offering huge opportunities for early investors.
Now is the time to get ahead of these shifts. Don’t be caught off guard in November.
This FREE report reveals the five stocks that are primed for growth ahead of the election.
Top Winners and Losers 🔥
EVgo Inc [EVGO] $6.32 (+60.81%)
EVgo received a $1.05 billion loan pledge from the government to accelerate its charging installations.
U.S. GoldMining Inc [USGO] $9.57 (+16.42%)
U.S. GoldMining remains high after news of high-grade ore at its Whistler deposit gets investor attention.
TC Biopharm [TCBP] $6.61 (+11.66%)
TC Biopharm showcased its artificial intelligence initiative for optimizing its patient screening process.
Ingevity Corp [NGVT] $33.06 (-11.75%)
Ingevity shares dropped after the unexpected exit of its CEO today.
Albany International [AIN] $77.33 (-11.03%)
Albany International leaves investors wondering as it cuts revenue and profit outlooks for the upcoming fiscal year.
Hims and Hers Health [HIMS] $17.13 (-9.60%)
Hims and Hers Health loses ground as competitor Eli Lilly remedies its supply constraints.
Stocks Set for Major Breakouts
Eric Fry, renowned for spotting stocks that deliver massive gains, is back with new picks for the upcoming year.
His track record includes stocks that have surged over 1,000%, and he’s now identified companies primed for similar growth in 2024.
These stocks are positioned to lead the charge in key sectors, offering a strategic advantage to early investors.
This is a unique opportunity to uncover stocks that could see explosive growth before the market catches on.
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!
Thanks for reading. I'll see you at the next open!
Best Regards,
— Adam G.
Elite Trade Club
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