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Indexes fare better too.
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Markets 📈
U.S. indexes rebounded nicely today, recovering from a steep sell-off. The Nasdaq Composite scored the best marks, ending 2.9% higher than yesterday’s numbers.
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Everyone is now talking about AI…
But according to tech legend Jeff Brown, who picked Nvidia in 2016…
Most people have no idea what’s about to hit them.
He believes a new type of AI he calls “Exegesis AI” is about to shock the world… and create an incredible opportunity.
Market-Moving News 📈
Tesla Postpones Robotaxi Unveiling to October: What’s at Stake in the Autonomous Race
Tesla (NASDAQ: TSLA) was set to host a major event today focused on its highly anticipated robotaxi initiative, initially announced by CEO Elon Musk for August 8. However, this event has been postponed to October 10. Since 2016, Tesla has been teasing its robotaxi concept, and the upcoming event is expected to offer deeper insights into the future of Tesla's autonomous vehicle strategy. Reports suggest that Musk has directed some last-minute design changes to the vehicle that will be showcased.
The event is also likely to address the varied feedback on Tesla's Full Self-Driving (FSD) system. While some users have praised the recent updates, others, like Truist Securities’ analyst William Stein, have noted that the system still requires human intervention, casting doubt on the readiness of Tesla's autonomous technology. Stein shared concerns about FSD after test-driving a Model Y, citing instances where he had to intervene to avoid potential accidents.
Tesla is not alone in the race to develop autonomous vehicles. Competitors like Waymo, Zoox, and Cruise are also making strides in this space. Waymo recently expanded its robotaxi services in California, while Zoox is nearing the launch of its ride-hailing service in Las Vegas. Meanwhile, Uber (NYSE: UBER) and BYD (OTCPK: BYDDF) have announced a significant partnership to build a global robotaxi fleet, beginning in Europe and expanding worldwide.
Dodge Sets the Stage for Electric Muscle: 2024 Charger Daytona Pricing and Features Revealed
Dodge has unveiled pricing for its first all-electric vehicle, the 2024 Charger Daytona, a high-performance muscle car that’s set to shake up the neighborhood. The two-door R/T model will start at $59,595, while the Scat Pack version comes in at $73,190—both excluding a $1,995 destination fee. Production for these models begins this summer, with four-door variants slated for early 2025.
The R/T and Scat Pack models are powered by a two-motor 400-volt system, delivering impressive performance. The R/T comes with a stage 1 upgrade kit that boosts output to 496 horsepower and 404 lb-ft of torque. Meanwhile, the Scat Pack’s stage 2 kit cranks out a whopping 670 horsepower and 627 lb-ft of torque.
One of the standout features of the Charger Daytona is the innovative “Fratzonic Chambered Exhaust” system. This patent-pending technology adds a deep, resonant sound that mimics the roar of a traditional gas-powered engine, complete with Hellcat-level intensity. The system also offers a stealth mode for quieter operation, enhancing the driving experience, especially during high-speed maneuvers.
Dodge enthusiasts can preview these models online this fall, with dealership arrivals expected by year-end. While the R/T and Scat Pack won’t qualify for the $7,500 tax credit if purchased, the incentive is available for those who opt to lease.
"Apple's Bold Move: New Mac Mini and M4 Chip Set to Redefine Computing"
Apple (NASDAQ: AAPL) is set to unveil a redesigned Mac mini, integrating the newly announced M4 chip, Bloomberg reports. This refreshed model, anticipated later this year, will feature the first major redesign since 2010, when Steve Jobs was still at the helm. The new Mac mini is expected to be more compact, aligning closely in size with the Apple TV set-top box.
The last Mac mini update occurred in January 2023, introducing the M2 chip alongside refreshed MacBook Pro models. Now, Apple is also working on updated versions of the iMac desktop and MacBook Pro, which will include the advanced M4 chip. These new iterations might debut within the year.
Looking ahead, Apple is preparing new releases for 2025, including updates to the MacBook Air, Mac Pro, and Mac Studio. The M4 chip, revealed in May, features a powerful CPU with four performance cores and six efficiency cores, along with a 10-core GPU that supports ray tracing—enhancing gaming visuals on the iPad for the first time. Additionally, the M4 boasts a 16-core neural engine capable of 38 trillion operations per second, underscoring its advanced AI capabilities.
Get ahead in 2024 with a list of 7 high-potential stocks, including 3 AI gems.
These picks have been identified for their strong growth potential and could be key to outperforming in the upcoming market.
Top Winners and Losers 🔥
Harrow Inc [HROW] $33.92 (+54.32%)
Harrow ends the day with an impressive high after reporting solid Q2 results.
MGO Global Inc [MGOL] $3.70 (+52.26%)
MGO Global continues its upward momentum amid short-squeeze rumors.
XPEL Inc [XPEL] $36.89 (+47.69%)
XPEL surges after earnings per share and revenue both exceed second-quarter estimates.
Outset Medical [OM] $1.07 (-68.53%)
Outset Medical sees significant losses as profit growth and revenue both dip.
BRC Inc [BRCC] $3.37 (-37.82%)
Black Rifle Coffee managed to beat earnings per share estimates, but lower revenues caused an outcry among investors.
JFrog Ltd [FROG] $24.68 (-27.52%)
JFrog suffers a blow to its share price after cutting its full-year guidance.
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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