Stocks heat up in early trading 🔥

Good Morning! 

It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.

Today is Thursday, November 30th. I hope you have a great day in the market.

Now, let's get ready to trade!

Markets 📈

Stocks had a lackluster performance on Wednesday. The Dow gained less than 0.1%, while the S&P 500 and Nasdaq lost about 0.1%. The Russell 2K outperformed with a 0.6% gain.

Index futures are trending higher in early trading. S&P 500 contracts are currently up 0.3%.

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Premarket Highlights 🔎

🚀 Cybertruck Hype Boosts TSLA

Ahead of a milestone event at its Austin factory, Tesla's [TSLA] stocks are seeing a bit of sunshine in premarket trading. The occasion? The first rollouts of the much-hyped Cybertruck.

🚚 Cybertruck Debut: 

This isn't just any truck. With a futuristic design and stainless-steel body, the Cybertruck is Tesla's first new passenger ride in over three years. It joins the Tesla family of Models S, 3, X, and a semi truck, arriving amid a flurry of EV demand debates and industry-wide sales tactics.

🛠️ Cybertruck Chronicles:

Elon Musk, the face of Tesla, anticipates churning out about 250,000 Cybertrucks annually, but not before 2025.

The launch price remains a mystery. Initially pegged at just under $40,000 for the base model, with a potential spike above $70,000, expectations now lean towards higher tags.

Originally set for a 2021 debut, the Cybertruck has navigated through a series of delays, even as rivals like Ford (with its F-150 Lightning) have entered the electric pickup arena with competitive pricing.

🗣️ Musk's Big Claim: Touting the Cybertruck as Tesla’s “best product ever,” Musk's confidence contrasts with the company's recent caution about the challenges in mass-producing this trailblazer, especially following a significant dip in Q3 net profits.

As Tesla gears up to unveil the Cybertruck, all eyes are on how this launch will navigate the complex currents of EV demand, competition, and production realities.

What to Watch Today 👀

PCE Inflation Report

New data on personal consumption expenditures will hit the market today, and investors would be well advised to listen closely. PCE is widely regarded as the Federal Reserve’s preferred gauge for measuring inflation, so today’s report could have a major influence on whether or not the Fed hikes rates again before the end of the year.

Featured Earnings 💲

• Kroger Company [KR] ... AM

• Academy Sports And Outdoors [ASO] ... AM

• Cracker Barrel Old Country Store [CBRL] ... AM

• American Woodmark Corporation [AMWD] ... AM

• Dell Technologies [DELL] ... PM

• Ulta Beauty [ULTA] ... PM

• Samsara [IOT] ... PM

• UiPath [PATH] ... PM

• Ambarella [AMBA] ... PM

• PagerDuty [PD] ... PM

Economy 🏗

• GInitial jobless claims [Nov] ... 8:30a

• Personal income (nominal) [Oct] ... 8:30a

• Personal spending (nominal) [Oct] ... 8:30a

• PCE index [Oct] ... 8:30a

• Core PCE index [Oct] ... 8:30 am

• Chicago Business Barometer (PMI) [Nov] ... 9:45a

• Pending home sales [Oct] ... 10:00a

Gainers

• Ampio Pharma [AMPE] >> +82.3%

• Aditx [ADTX] >> +44.9%

• Smart for Life [SMFL] >> +63.1%

Decliners

• Vivos [VVOS] >> (35.6%)

• Trinity [TRIB] >> (30.5%)

• Proof Acquisition [PACI] >> (25.1%)

Salesforce [CRM] - Last Close: $230.35

Salesforce is rallying after a strong earnings report.

The CRM pioneer reported Q3 results that surpassed the Street’s expectations after Wednesday’s closing bell.

Salesforce reported EPS of $2.11 per share against the consensus of $2.06. Revenues of $8.72 billion was in line with Wall Street’s target.

The company also posted stronger-than-expected Q4 EPS guidance.

CRM is leading the S&P 500 with a 9.2% gain.

Minim [MINM] - Last Close: $0.91

Minim is absolutely skyrocketing in today’s premarket.

This tiny stock is on an absolute tear after nothing a 14.8% gain in Wednesday’s trading session.

Minim’s big move wasn’t preceded by any obvious company-specific catalyst, but the rally has gone into overdrive in today’s premarket.

The stock has been steadily building momentum since Monday, when Refinitiv/Verus resumed coverage on it with a “hold” rating.

Shares of MINM are up 463.7% in early premarket trading.

Soligenix [SNGX] - Last Close: $0.4154

Soligenix is trending on a regulatory breakthrough.

The tiny company received approval from the U.S. Food and Drug Administration for an Investigational New Drug application for SGX945.

The FDA’s approval clears the way for a Phase2a clinical trial studying the drug candidate as a “Treatment of Aphthous Ulcers in Behçet's Disease.”

Patient enrollment is expected to begin in the second half of 2024.

SNGX is up 34.8% with active premarket trading volume.

Connexa Sports Techologies [CNXA] - Last Close: $0.344

A series of regulatory disclosures is boosting Connexa Sports Tech.

In yesterday’s aftermarket, the company published a Form-S1/A and a Form SC 13D that are rallying shares in the premarket.

The Form SC 13D revealed Spair LLC had amassed a 5.9% stake in the company.

Connexa’s Form-S1/A announced the launch of a $9.76 million offering of 5.365 million shares of its common stock.

CNXA is up 30.0% in today’s premarket on elevated volume.

That's it for today! Thanks for reading, and good luck out there!

Best Regards,

— Chris D.
Elite Trade Club

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