Trump Media Plummets After Debate Disaster

Good morning. It's September 11th, and today, we’ll look at Trump Media's plummeting fortunes after the presidential debate, Gamestop’s and Manchester United’s poor earnings reports, and three big gainers in premarket trading.

Previous Close 📈

Stocks closed lower on Tuesday as investors awaited the August Consumer Inflation report, which might influence the Federal Reserve’s decision on a possible interest rate cut at their upcoming meeting.

Futures

U.S. stock futures are down today. Dow futures have dropped by 0.4%, and S&P 500 and Nasdaq 100 futures are each down 0.2%.

What to Watch

The big number everyone is waiting for is the Consumer Price Index (CPI) for August, which will be released at 8:30 a.m. ET.

Apart from this, Manchester United (NYSE: MANU), D-Market Electronic Services & Trading (NASDAQ: HEPS), and Tsakos Energy Navigation (NYSE: TEN) will announce their earnings before the market opens today.

After the closing bell, Oxford Industries (NYSE: OXM) and Mind Technology (NASDAQ: MIND) will also share their numbers.

Transportation

The Next Big Leap in Electric Aviation

Electric vehicles have revolutionized ground transportation, but now the focus is shifting to the skies.

A leading investor in electric vehicles has set its sights on air taxis, marking a new frontier in mobility.

With key investments in companies at the forefront of this technology, the future of aviation could be electric, efficient, and closer than you think.

Discover more about this groundbreaking company and its stock potential. Learn how you can be a part of the future of aviation.

Media

Trump Media Plummets as Harris Gains Momentum After Debate

Shares of Trump Media & Technology Group (DJT), which owns the Truth Social platform, are dropping by more than 11% in premarket trading.

Following a contentious presidential debate, the odds of Democratic candidate Kamala Harris winning the 2024 election have increased.

Harris' direct attacks on Donald Trump's fitness for office, stance on abortion, and legal issues put Trump on the defensive, leading to a heated exchange that affected his perceived chances.

Trump, who holds over a 50% stake in his media company valued at $3.7 billion, saw its stock heavily impacted due to its popularity among retail traders who closely watch his election prospects.

The shares have fallen nearly 60% since mid-July as Harris' odds improved after she replaced Joe Biden as the Democratic candidate.

Following the debate, Trump's betting odds on PredictIt fell to 47 cents, while Harris' rose to 57 cents. Meanwhile, speculation about a potential share sell-off by Trump and other investors after a lock-up period ends next week could further pressure DJT's stock.

Sports

Manchester United Sees Rising Losses and Declining Revenues in Q4 Again

Manchester United is reporting its fifth consecutive year of financial losses, with a net loss of £36.3 million for the fourth quarter, compared to a loss of £2.9 million in the same period last year.

Its shares are falling by 2.20% in premarket trade.

This results in a loss per share of 21.44 pence, significantly worse than last year’s loss of 1.79 pence. The adjusted EBITDA for the quarter also fell to £19.3 million, down from £43.2 million the previous year. Adjusted basic loss per share was 15.79 pence, compared to a loss of 6.18 pence a year ago.

The club's revenue from customer contracts in the fourth quarter declined to £142.21 million, down from £167.33 million the prior year.

Looking ahead to fiscal 2025, Manchester United is providing a revenue forecast between £650 million and £670 million and adjusted EBITDA guidance of £145 million to £160 million.

In the third quarter of fiscal 2024, Manchester United initiated a business transformation plan, aiming for annual cost savings of £40 million to £45 million before implementation costs of £10 million, which it expects to achieve over fiscal 2025 and 2026.

Meme Stock

GameStop Reports Lower Revenue and Announces Stock Offering

GameStop has announced a plan to offer up to 20 million shares, which is causing its stock to plummet by nearly 10% in premarket trading.

The video game retailer, which has been a focal point of the "meme stock" phenomenon, reported a decline in second-quarter revenue as consumers increasingly prefer digital downloads and online shopping over traditional in-store purchases.

Revenue for the quarter ending August 3 dropped to $798.3 million from $1.16 billion a year earlier, falling short of the $895.7 million analysts had expected.

GameStop stated it will use the proceeds from the stock offering for general corporate purposes, which could include acquisitions and investments. The company also plans to accelerate store closures, in line with earlier remarks by CEO Ryan Cohen.

Despite these challenges, GameStop managed a net income of $14.8 million, or 4 cents per share, helped by a 16% reduction in operating expenses.

Exclusive Opportunity Just for You

Unlock 200+ Dividend Stocks With 5%+ Yields

Did you know that some stocks pay you just for owning them? While the S&P 500 offers a modest yield under 1.5%, there are a select few stocks with dividend yields of 5% or more, meaning more income for every dollar invested.

We’ve compiled a free spreadsheet of over 200 high-yield stocks, complete with key metrics to help you make the best investment decisions.

Get your free 5%+ dividend stock spreadsheet now.

Genprex, Inc. [GNPX] - Last Close: $0.46

Genprex stock is up more than 35% in premarket trading.

The company announced yesterday that its collaborators will present positive preclinical data on their lead drug candidate, Reqorsa® Gene Therapy, at a major cancer research symposium in October.

The data shows promising results for treating Ras-inhibitor-resistant lung cancer, mesothelioma, and glioblastoma.

These presentations highlight the potential effectiveness of Reqorsa in targeting tough-to-treat cancers, supporting its potential for new clinical trials.

The news of these advancements has boosted investor confidence, as the drug could provide new treatment options for patients with limited choices.

FTC Solar, Inc. [FTCI] - Last Close: $0.23

FTC Solar stock is jumping 77% so far in premarket trade after announcing a multi-year agreement with Strata Clean Energy to supply around 500 megawatts of its Voyager 2P solar tracker technology for various U.S. projects.

This deal also makes FTC Solar the preferred supplier for these trackers over the next three years, potentially expanding to over a gigawatt in volume.

Strata will use FTC's solar trackers and SunPath software to boost project performance, underscoring confidence in FTC Solar's technology and customer support.

Quhuo Limited [QH] - Last Close: $1.33

Quhuo Limited stock is rallying by more than 100% in premarket trading.

The company recently gained significant recognition for its efforts to empower gig workers.

Song Penghua, a Quhuo delivery rider, was honored as a model worker in Henan Province, highlighting the company's strong support for its workers.

The recognition shows that Quhuo is well-positioned for future growth in China's expanding gig economy, increasing the stock price.

Travel

The Future of Air Travel is Here

Electric cars were just the beginning—now it’s time for electric air travel. Backed by top investors and major industry partnerships, the next phase of mobility is taking off.

Imagine planes powered by electric engines, making regional air travel more efficient, affordable, and environmentally friendly. The future is in the air.

Dive deeper into the company leading this charge. Learn about their stock and what it could mean for investors.

Everything Else

• UniCredit's stake acquisition sparked a Commerzbank share rally.

• Interest rate cut expectations rise as the U.K. economy stagnates in July.

• The FTC is considering an investigation into the potential Seven & i and Couche-Tard merger.

• Kai-Fu Lee forecasted rapid AI app adoption in China by early 2025.

• Zara is set to launch a secondhand clothes service in the U.S. by October.

• ICG's new European direct-lending fund marked a record €15.2 billion raise.

• School lunch processing fees are adding financial strain for U.S. families.

• Samsung will reduce its global sales and administrative staff by up to 30%.

• Rentokil shares fell sharply as its North America growth has slowed.

• NXP boosts its presence in India with a billion-dollar R&D expansion amid a growing chip sector.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

Click here to get our daily newsletter straight to your cell for free.

P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP.