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Furniture Retailer Jumps 29%
Adam Garcia
October 22, 2024
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Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
The market remained down for the second day in a row as increasing bond yields stole some thunder. The Russell 2K index fell the most again, dipping 0.37%.
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Gold
Gold prices are surging, and as the US election approaches, the demand for safe-haven assets is expected to skyrocket.
With the uncertainty looming, investors are turning to gold as a hedge against market volatility.
One junior miner, situated in Canada’s gold-rich Abitibi greenstone belt, could be poised for significant gains.
They’re ramping up exploration with 59 high-priority targets, and major industry players, including billionaire investor Eric Sprott, are taking notice.
With election volatility on the horizon, don’t miss this chance to learn about this potentially game-changing gold stock.
Market-Moving News 📈
Verizon Boosts Network Growth Amid Slower Phone Upgrades
Verizon faced challenges in the third quarter, with lower-than-expected revenue largely due to fewer phone upgrades. However, the company continues to make significant strides in its network performance, especially in expanding its wireless and broadband services.
Verizon added a substantial number of new monthly wireless subscribers, surpassing market expectations, and continued to strengthen its broadband customer base. The company’s fixed wireless service, which delivers internet through airwaves, also saw impressive growth, meeting its subscriber goals ahead of schedule. This reflects Verizon’s focus on enhancing its network capabilities to cater to the growing demand for high-speed data services.
As competition intensifies and the U.S. wireless market approaches saturation, Verizon’s strategic investments in high-speed broadband and fiber-optic services are key to its future growth. This focus on network performance ensures the telecom giant remains competitive in an evolving landscape.
Target Aims to Lure Shoppers with Big Holiday Price Drops
Target is taking steps to capture the attention of cost-conscious shoppers this holiday season by lowering prices on thousands of items. The company is offering discounts on a wide range of products, including snacks, toys, and over-the-counter medicine. These price cuts span both well-known national brands and Target’s own private-label offerings, covering essentials, food, and holiday gifts.
This effort comes in the midst of a compressed shopping season and a challenging economic environment, where many consumers are tightening their budgets. Target's move mirrors similar strategies from other major retailers aiming to offer value to shoppers facing inflationary pressures.
Earlier in the year, the retailer reduced prices on a large number of products and expects to continue its efforts through the holiday period. As part of its preparation for the busy season, Target has also brought on additional seasonal workers to meet customer demand.
Walmart Launches Fast Prescription Delivery to Boost Convenience for Shoppers
Walmart is rolling out a new service that could reshape how consumers access prescriptions, offering delivery within just 30 minutes in most areas. Customers will be able to add medications and refills to their existing orders, alongside groceries and other household items. This convenience will be provided at no additional charge for Walmart+ members.
The retailer plans to make this service available in 49 states by the end of January, reaching over 86% of U.S. households. Walmart's decision to include prescription delivery responds directly to customer feedback, with many expressing a strong preference for having medications delivered alongside other essentials in one order.
With this move, Walmart strengthens its competitive edge against major players like Amazon and pharmacy chains, offering fast delivery through its extensive network of stores. As demand for convenient, quick prescription services grows, Walmart’s widespread reach and bundled offerings are likely to attract busy families and time-sensitive shoppers.
Healthcare
Therma Bright (TSXV: THRM) (OTCQB: TBRIF) is emerging as a healthcare company with strong fundamentals and increasing market momentum. Their innovative health-tech solutions are driving attention in a rapidly expanding sector.
This company is well-positioned for significant growth, offering investors a unique opportunity to tap into its potential. With their product advancements and expanding market presence, Therma Bright could be the next breakthrough in the healthcare industry.
Don't miss out—research this stock and explore its potential now.
Top Winners and Losers 🔥
Flexsteel Industries [FLXS] $55.10 (+29.34%)
Flexsteel Industries gained ground after sharing its Q1 earnings report with better-than-expected financials.
iRhythm Technologies [IRTC] $75.59 (+21.72%)
iRhythm Technologies sees huge gains following FDA approval for its Zio AT cardiac monitoring device.
Mueller Industries [MLI] $82.22 (+14.07%)
Mueller Industries posted strong profit numbers from increased revenue on its metal and plastic products.
Zoomcar Holdings [ZCAR] $6.20 (-21.52%)
Zoomcar Holdings leaves investors wondering amid shakeups at the executive level.
Genuine Parts Co [GPC] $113.11 (-20.97%)
Genuine Parts Co, parent company of NAPA Auto Parts, struggled amid weak profits and a lowered future outlook.
Polaris Inc [PII] $72.22 (-9.94%)
Polaris posted lackluster third-quarter financial results, leading to investor sell-offs.
Election Safe-Haven
With the US election fast approaching, market uncertainty is fueling a rush toward safe-haven assets like gold.
Already one of the top-performing investments this year, gold is pushing toward record highs as investors seek refuge from the coming volatility.
Experts predict that if the election results are close, we could see increased market swings, further driving the demand for gold. As uncertainty looms, gold becomes an even more attractive hedge.
One junior mining company, located in Canada’s most productive gold district—the Abitibi greenstone belt—is ready to capitalize.
With 59 high-priority drilling targets, this little-known miner could be positioned for significant growth as they ramp up exploration efforts.
That's it for today! Please write back to us 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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