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A Tiny Stock with Massive Potential 🚀
Get the details plus today's top premarket movers inside.
Chris Dinello
July 15, 2024
Good Morning!
It's Chris from Elite Trade Club, here to give you this morning's premarket trading news.
Let’s get ready to trade!
Markets 📈
The market entered the weekend on a high note. U.S. indexes saw across-the-board gains, with small-caps outperforming.
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S&P 500 futures are currently up by 0.4% in early trading, so there’s a good chance the benchmark index will open today’s session higher.
What to Watch Today:
Goldman Sachs [GS] and BlackRock [BLK] will report their latest earnings results ahead of the opening bell. After last week’s mixed bag of Big Bank earnings, these earnings report could draw additional scrutiny from the market. Plus, reports from big name financial firms like these often contain valuable economic insights.
A recent government grant has put this under-the-radar stock on the map.
It has potential to become a key player in one of North America's most crucial supply chains.
And it's currently sitting on an impressive portfolio of assets, plus claims that could deliver huge opportunities down the road.
It has potential to be an excellent swing trade candidate, and now could be a great time to make a move.
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Premarket Highlights 🔎
Google in Advanced Talks to Acquire Cybersecurity Startup Wiz for $23 Billion 🔐
Google is reportedly in advanced negotiations to acquire cybersecurity firm Wiz for $23 billion, according to sources cited by The Wall Street Journal. This potential acquisition would mark Google's largest-ever deal, emphasizing its strategic focus on bolstering cybersecurity capabilities.
Rapid Growth and IPO Plans 🚀
Wiz, founded in 2020 under CEO Assaf Rappaport, has experienced rapid growth, reaching a valuation of $12 billion as recently as May. The company had been considering an IPO before news of the acquisition talks surfaced. A representative for Wiz declined to comment on the matter.
Strategic Appeal and Backing 💼
Wiz offers a comprehensive cloud security solution that provides executives and cybersecurity professionals with insights into their entire cloud infrastructure. This capability is particularly attractive to large organizations with extensive computing resources. Wiz is backed by prominent investors, including Cyberstarts, Index Ventures, Insight Partners, and Sequoia Capital.
Emphasis on Cybersecurity 🔐
The acquisition would highlight Google's ongoing commitment to cybersecurity amidst increasing threats from nation-state actors and cybercriminals. Google previously acquired cybersecurity firm Mandiant for $5.4 billion two years ago, underscoring its focus on strengthening security measures.
Antitrust Scrutiny and M&A Activity ⚖️
Google's acquisition practices have come under significant antitrust scrutiny, with the Justice Department filing lawsuits against the company. Despite this, the talks with Wiz suggest that Google remains keen on strategic mergers and acquisitions. Google's previous interest in acquiring sales software maker Hubspot reportedly cooled, but the potential deal with Wiz indicates a renewed M&A appetite.
Conclusion 🚀
If finalized, the acquisition of Wiz would represent a major strategic move for Google, reinforcing its position in the cybersecurity sector. As the company navigates regulatory challenges and competitive pressures, this deal could significantly enhance its security offerings and market presence.
Featured Earnings 💰️
Goldman Sachs Group [GS] ... AM
BlackRock [BLK] ... AM
Guaranty Bancshares [GNTY] ... AM
Destiny Media Technologies [DSNY] ... AM
ServisFirst Bancshares [SFBS] ... PM
FB Financial [FBKD] ... PM
CrossFirst Bankshares [CFB] ... PM
Economy 🏗
Empire State manufacturing survey [Jul] ... 8:30a
Fed Chairman Powell speaks ... 12:00p
Running Hot 🔥
Gainers
DatChat [DATS] >> +105.6%
Pop Culture [CPOP] >> +21.7%
Phunware [PHUN] >> +27.6%
Decliners
Asian Pharma [ASLN] >> (40.4%)
Qualigen Therapeutics [QLGN] >> (22.8%)
Moolec Sciences [MLEC] >> (16.0%)
Trump Media Technology [DJT] - Last Close: $30.89
A sympathy rally is lifting the Truth Social parent after a weekend assassination attempt on former president & presumed GOP candidate Donald Trump.
A lone gunman opened fire at the former president during a rally in Butler, PA on Saturday, killing one event attendee and wounding several others.
One of the bullets fired struck Trump in the right ear, but he escaped serious injury. The shooter was subsequently killed by event security.
Both Republicans and Democrats, including President Biden, condemned the attempt and called for a nationwide deescalation in political rhetoric.
DJT is up 46.3% on just shy of 13 million shares traded.
My Take: The Trump assassination attempt was a heinous act, but I don’t think it changes the outlook for Truth Social. This could be the beginning of a swing higher, but I’m doubtful about this stock’s long-term trajectory.
Sinai Immunotherapeutics [SCNI] - Last Close: $4.06
Sinai’s announced a successful preclinical study of its NanoAb antibody treatment in patients wild moderate to severe plaque psoriasis.
The study showed that Scinai's therapy had a “non-inferior anti-inflammatory effect” on the psoriatic lesions compared to common treatment.
SCNI is up 38.6% on over 3 million shares traded.
My Take: SCNI is on a tear lately, with shares up 87.5% over the past 5 days heading into today’s session. This catalyst could extend the rally into the mid-week.
Mira Pharma [MIRA] - Last Close: $0.5892
A preclinical study of MIRA Pharma’s MIRA-55 oral marijuana analog showed it outperformed THC in treating anxiety and cognitive decline.
The recent preclinical studies, conducted in vitro and through a mouse model, confirmed that MIRA-55 offers significant potential advantages over THC.
The study findings confirmed MIRA Pharma’s belief that MIRA-55 has enhanced potency and potential over a previous iteration, MIRA1.
MIRA is a top mover with a 53.9% gain on over 11 million shares traded.
My Take: MIRA has been locked in a down trend for a while but this news could help it break out of its slump.
Autonomix [AMIX] - Last Close: $0.6180
Autonomix landed a deal to license its Apex 6 Radiofrequency Generator intellectual property to RF Innovations in exchange for shares of stock.
Under the deal, Autonomic received 250K shares of privately-held RF Innovations stock for a non-exclusive worldwide, royalty-free license.
AMIX is up 143.3% on more than 8 million shares traded.
My Take: This news could help AMIX pivot into a new uptrend, as shares have shown signs of potentially bottoming out lately.
That's it for today! Thanks for reading, and good luck out there!
Best Regards,
— Chris D.
Elite Trade Club
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