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Streaming Service More Than Triples Today
Adam Garcia
January 06, 2025
Good Afternoon!
Hey, everyone. It's Adam from Elite Trade Club.
Here’s what moved the market today.
Gold
Something big just happened in the gold world.
A tiny company with massive gold reserves just announced a transformative merger that catapults them into the big leagues.
With millions of ounces of gold now under their control they expect production to hit 200,000 ounces a year.
Their market cap is just a fraction of this gold finds value and Wall Street is beginning to catch on...
Markets 📈
The market floundered in the final hours of the trading day, causing some U.S. indexes to fall. The Nasdaq Composite saw the most gains, adding 1.2% to its score.
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Market-Moving News 📈
Steel
Steelmakers Challenge Biden's Decision to Block Nippon Deal
Nippon Steel and U.S. Steel are contesting a recent decision by the U.S. government to block Nippon’s proposed acquisition of the Pittsburgh-based company. The $15 billion deal faced opposition from federal regulators and was ultimately halted by the Biden administration, citing concerns over national security and the importance of maintaining a strong domestic steel industry.
The companies have filed lawsuits, claiming the decision was politically motivated and lacked a sound legal basis. They argue that the acquisition would have strengthened U.S. steel production and positioned it to better compete globally, particularly against China. Nippon Steel had pledged significant investments in U.S. Steel’s aging facilities and promised not to reduce domestic production capacity for the next decade.
The administration’s decision followed a deadlock by the Committee on Foreign Investment in the United States (CFIUS), which raised concerns about potential security risks. The companies also allege that a rival steelmaker, Cleveland-Cliffs, and the head of the Steelworkers union worked to undermine the deal through anti-competitive actions.
With a new administration incoming, the future of the acquisition remains uncertain. Nippon and U.S. Steel have vowed to continue their legal battle, arguing that the blocked deal hinders progress in revitalizing the American steel industry.
Food & Beverage
Alico Announces Workforce Reductions and Shifts Focus to Land Development
Tropicana supplier Alico, Inc. has announced a significant shift in its operations, revealing plans to scale back its citrus production. The Florida-based company will reduce its workforce, affecting up to 172 positions, with the majority of layoffs taking place by early April 2025. The decision comes as Alico looks to wind down its Alico Citrus division, which has faced mounting challenges, including the impact of citrus greening disease.
Despite extensive efforts to combat these issues, Alico's citrus production has dropped dramatically over the past decade. To offset this, the company intends to have third-party caretakers manage a portion of its citrus acreage through 2026. Additionally, Alico is focused on diversifying its land holdings, with plans to pursue commercial and residential development on certain parcels.
In a strategic move, Alico has informed a major partner about its intent to remove certain acres from a contract, citing economic considerations. The company also expects to incur charges of $1.5 million to $2 million related to the workforce reduction. Alico's management remains confident that its current cash reserves will sustain operations for at least two more years, even without additional land sales.
Technology
Forget rockets or brain implants…
Elon’s new AI product could be his biggest invention yet.
Jeff Brown tried it himself recently and caught his experience on camera.
Click here to see this footage because according to Tesla Magazine, this new product “could well shape the technological and economic future of our society.”
Tech
Ring Teams Up With Kidde for Smart Smoke and Carbon Monoxide Alarms
Ring is teaming up with Kidde to offer smart smoke and carbon monoxide alarms that integrate with the Ring app, bringing new convenience and safety to users. These alarms connect via Wi-Fi and send alerts directly to your phone when triggered, allowing you to stay informed even when you’re not at home.
The new Kidde Smart Smoke Alarm with Ring ($54.97) and the Kidde Smart Smoke and CO Alarm with Ring ($74.97) are both hardwired with battery backup. Available at The Home Depot starting in April, these devices will expand to additional retailers later in the year. These alarms not only notify you if danger is detected but also send warnings for low battery levels to help avoid those frustrating midnight beeps. However, users will need to manually silence the alarm when it goes off, as this feature is not supported by the Ring app.
Unlike other smart alarms, the Kidde alarms don’t require a Ring Alarm hub or subscription to receive alerts. If you’re interested in 24/7 professional monitoring, Ring offers this for just $5 per month, which is included for those already subscribed to Ring Professional Monitoring.
As the demand for connected safety devices grows, Kidde’s new Ring-powered alarms offer an accessible, reliable option for those seeking smarter home protection.
Top Winners and Losers 🔥
FuboTV Inc [FUBO] $5.06 (+253.85%)
FuboTV more than tripled today after a deal to merge with Disney’s Hulu+ platform.
Paycor HCM Inc [PYCR] $22.86 (+23.30%)
Paycor shares jumped after word got out that the company is in talks to be acquired by rival Paychex.
Alico Inc [ALCO] $31.39 (+19.22%)
Alico soared upon sharing news that it would exit the citrus output game.
Gorilla Technology Group [GRRR] $19.71 (-16.20%)
Gorilla Technology provided updates on share count information and future plans, but investors remain skeptical.
NextNav Inc [NN] $13.50 (-16.17%)
NextNav suffered from unusually high options trading volume today, sending shares down.
MINISO Group Holding Ltd [MNSO] $24.07 (-12.82%)
MINISO announced a new offering of $550 million equity linked securities, giving shareholders pause.
Next Gold Rally
A young company's fortune may have changed virtually overnight...
They've uncovered millions of ounces of high-grade, visible gold in North America.
This means low extraction costs and with gold forecasts of $3,000/oz, you can see the potential of this find.
Wall Street has already taken notice with analysts calling for a 211% upside!
Learn more 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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