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- Healthcare Stock Shines Into the Afternoon With 135% Gains
Healthcare Stock Shines Into the Afternoon With 135% Gains
Adam Garcia
August 26, 2024
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
U.S. indexes ended the first day of the business week at or just below where they started. The Dow Jones kissed a new all-time high before settling back to just +0.16% on the day.
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Market-Moving News 📈
Telegram CEO Held in France Amid Investigation into Platform’s Security Practices
Pavel Durov, the CEO of Telegram, was detained in France, raising serious concerns over the platform’s role in combating criminal activities. French authorities apprehended the 39-year-old billionaire at Le Bourget airport, accusing Telegram of inadequately addressing the spread of illegal content, including child abuse material. His detention, initially set for 24 hours, was extended up to 96 hours as a judge determines whether Durov will face charges or be released.
The case, spearheaded by Paris's cybercrime unit, explores allegations against Telegram, including failure to assist in legal investigations, facilitating the distribution of illegal content, and enabling drug trafficking. A French agency official highlighted the platform’s alleged lack of moderation as central to the investigation.
In response, Telegram, based in Dubai, asserted its compliance with European laws, denying responsibility for user actions. The company, founded by Durov and his brother, has 900 million users globally, but its lenient content moderation has drawn significant scrutiny. The Russian embassy in Paris has demanded explanations and consular access, emphasizing Durov’s protection rights as the investigation unfolds.
New Over-the-Counter Glucose Monitor Stelo Expands Access for Diabetes Management
Dexcom has launched its new over-the-counter continuous glucose monitor, Stelo, now available for purchase in the U.S. This device, designed for individuals with prediabetes or Type 2 diabetes who do not use insulin, allows users to monitor their glucose levels in real-time without a prescription. Stelo is priced at $99 for a one-month supply or $89 per month for a subscription, with options to use flexible spending accounts or health savings accounts for payment.
Stelo represents a significant step for Dexcom, opening access to millions of Type 2 diabetes patients who previously faced barriers to obtaining prescriptions or insurance coverage for continuous glucose monitors. The device, worn on the upper arm, lasts 15 days and transmits glucose data wirelessly to a smartphone app. Users can set personalized target ranges based on their health status, and the app provides real-time updates every 15 minutes, along with insights into glucose trends.
The U.S. Food and Drug Administration approved Stelo in March, making it the first over-the-counter continuous glucose monitor of its kind. With this launch, Dexcom aims to help a broader audience manage their glucose levels and adopt healthier lifestyle habits.
Apple Announces September Event: New iPhone 16, Apple Watch, and More Expected
Apple has scheduled its next major event for September 9th, 2024, at 1pm Eastern Time, under the theme “It’s Glowtime.” The event will take place at the Steve Jobs Theater in Apple Park.
The company is expected to debut the iPhone 16 series during this event. The iPhone 16 and 16 Plus are rumored to feature a new vertically aligned camera design, while the iPhone 16 Pro and Pro Max could see larger displays but retain the signature three-camera configuration. A fresh bronze color might also be introduced for the Pro models. Notably, all iPhone 16 versions are expected to include the Action Button, previously limited to the Pro models, and possibly a new button for quick photo and video capture.
Artificial intelligence is anticipated to be a key focus, with Apple Intelligence features potentially expanding across the entire iPhone 16 lineup.
In addition to the iPhones, the event might also showcase the Apple Watch Series 10 and new AirPods models, making it an exciting occasion for Apple fans.
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Top Winners and Losers 🔥
MEDIROM Healthcare [MRM] $5.85 (+135.89%)
MEDIROM Healthcare announced its new business and capital partnership with NFES Technologies.
Neonade Inc. [NEON] $5.95 (+21.18%)
Neonade shares remain high after winning a patent dispute against Samsung last week.
Nutex Health [NUTX] $24.19 (+11.84%)
Nutex Health opened its first ER and hospital today serving parts of the country’s northwest.
Alarum Technologies [ALAR] $14.83 (-31.34%)
Alarum Technologies stock flounders after the company missed earnings goals in its Q2 report.
PDD Holdings [PDD] $100.00 (-28.51%)
PDD Holdings lost ground today after investor concerns over slowing growth.
NAPCO Security Technologies [NSSC] $47.38 (-14.58%)
NAPCO Security Technologies turned in acceptable earnings numbers for second quarter, but still left investors wanting more.
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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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