This Small Biotech Stock Is Up By 107% 🚀

July 26, 2024 | [Read Online]( This Small Biotech Stock Is Up By 107% 🚀 [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=This%20Small%20Biotech%20Stock%20Is%20Up%20By%20107%25%20%F0%9F%9A%80%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fsmall-biotech-stock-107) Good morning. Today is July 26th, and in this edition, we will cover the escalating search engine wars, Viking Therapeutics’ overnight rise in the weight-loss drug industry, quarterly results for 3M and Dexcom, and a small biotech stock that has grown by over 100% in pre-market trade. Previous Close 📈 As the week draws to a close, stocks continued to slide on Thursday amid a rotational sell-off by investors in mega-cap technology stocks. The Dow seemed to buck the trend, with a marginal gain of 0.2%. Futures Futures are inching up today as tech stocks seem to be rebounding during pre-market trade and in anticipation of the Personal Consumption Expenditures data. What to Watch Bristol Myers, Colgate-Palmolive, Aon PLC, and 3M will release their quarterly results before the day’s trading begins. At 8:30 a.m., keep a close eye on the Personal Consumption Expenditures Price Index data, which is considered the Fed’s favored inflation gauge. The final Consumer Sentiment Index data for July will be released at 10:00 a.m. Booz Allen Hamilton Holding, Avantor, and Saia will also share their quarterly earnings reports after the market closes today. Technology Alphabet Stock Drops After OpenAI’s New SearchGPT Unveiling On Thursday, OpenAI unveiled its new search engine prototype, SearchGPT, which could challenge Google's dominant position in the search market. Supported by Microsoft, OpenAI is rolling out SearchGPT to a select group of users and publishers to refine the tool based on feedback. This new search approach aims to streamline web searches by leveraging real-time information and conversational AI capabilities. OpenAI intends to eventually integrate SearchGPT into its existing ChatGPT platform. In response to concerns from publishers about revenue loss, OpenAI emphasized that SearchGPT will provide clear source attributions and direct links to publisher websites. Google’s shares dropped by nearly 3% following the announcement but recovered in pre-market trading today. [Learn How to 8X Your Returns in the Coming Bull Run]( A generational bull run is on the horizon, with Bank of America's contrarian indicator approaching a "BUY" signal. But while most investors are preparing for standard stock gains, you have the opportunity to potentially multiply your returns by 5x, 6x, or even 8x. Imagine leveraging the upcoming bull market to generate "compound returns" that far outpace traditional stock investments. Join the upcoming LIVE Cash Flow Workshop Event and learn these proven options techniques designed to complement your existing stock positions and potentially supercharge your portfolio. Seats are limited. [Reserve Your Spot Now and Start Multiplying Your Returns]( Pharmaceuticals Viking Therapeutics Gains Attention With Innovative Weight-Loss Drug as Eli Lilly Tanks by 4.5% Viking Therapeutics has emerged as a notable player in the competitive weight-loss drug market. The company's experimental obesity treatment showed impressive results in a midstage trial, leading to a 120% surge in its stock. This drug demonstrated greater weight loss compared to Eli Lilly's Zepbound, attracting significant attention. Analysts project the weight-loss drug market could reach $100 billion by the decade's end. Viking's promising data positions it well, though it still faces challenges like scaling up manufacturing and completing further clinical trials. The company plans to meet with the FDA later this year to outline its development strategy. Rival Eli Lilly’s shares dropped by 4.5% yesterday after Viking Therapeutics and another competitor, Roche Holdings, announced positive results for their respective treatments. Healthcare DexCom Lowers Sales Outlook, Shares Fall By Nearly 40% DexCom Inc., a manufacturer of diabetes monitoring devices, saw its shares drop by nearly 40% after the company revised its annual sales forecast downward. The new outlook estimates full-year sales between $4 billion and $4.05 billion, a decrease from the previous projection of $4.2-$4.35 billion announced in April. The company attributed the forecast adjustment to a slower-than-expected increase in new patients and weaker international sales. CEO Kevin Sayer acknowledged that while the company advanced several strategic initiatives, their execution did not meet expectations. Challenges included expanding the U.S. salesforce and issues with rebate eligibility. Despite beating adjusted per-share profit expectations, DexCom's second-quarter sales fell short, contributing to the decline in stock value. This marks a significant downturn for DexCom, whose shares had remained relatively stable throughout the year. So far, DexCom's stock has decreased by 13% this year. Electronics 3M Shares Rise as Company Ups Profit Forecast for the Year 3M Co. raised the lower end of its full-year adjusted profit forecast on Friday, anticipating gains from restructuring efforts and rising demand in the electronics sector. This optimistic update led to a more than 5% increase in the company’s stock in premarket trading. The company's strategy of consistent price hikes across various categories has helped mitigate the impacts of inflation and sluggish demand in its consumer and industrial segments. Furthermore, restructuring initiatives aimed at streamlining operations and reducing costs have supported 3M in managing the slow demand environment effectively. Based in St. Paul, Minnesota, 3M now projects its full-year adjusted profit to range between $7.00 and $7.30 per share, up from the prior estimate of $6.80-$7.30 per share. This adjustment reflects the company's confidence in its ability to navigate current market challenges and capitalize on improving demand trends. Movers and Shakers Windtree Therapeutics [WINT] - Last Close: $3.29 Windtree Therapeutics’ shares have nearly doubled in pre-market trade. The stock is rising after the company announced that its istaroxime therapy has been studied in three positive Phase 2 trials. Istaroxime is designed to improve systolic contraction and diastolic relaxation of the heart while also increasing blood pressure and maintaining or improving renal function. The stock has a volume of nearly 120K. My Take: The stock has had a troubled past and has fallen by nearly 75% year to date. Expect to see a lot of volatility if you are planning to trade it. Carbon Revolution [CREV] - Last Close: $6.17 CREV is the second stock to have grown by more than 100% before the bell. The stock started to gain after the company announced that it will be supplying the carbon fiber wheels available on the just-revealed Chevrolet Corvette ZR1. This is the third time CREV has collaborated with GM on one of their cars. My Take: While the news is positive, Carbon Revolution has fallen by nearly 75% overall during the year, so it might be best to wait and watch during the current rally. Everi Holdings Inc. [EVRI] - Last Close: $9.14 Everi Holdings’ stock shot up by nearly 37% in the pre-market session. Both EVRI and IGT stocks gained after Apollo Global Management agreed to acquire IGT’s Gaming & Digital business and Everi in an all-cash deal that values them at approximately $6.3 billion combined. Earlier in the year, IGT and Everi had signed a definitive deal, whereby IGT would separate its gaming business via a taxable spin-off to IGT shareholders and then immediately combine it with Everi. My Take: EVRI might see further gains during the day, so it might be a good option to consider for the day. Everything Else - The EU approved [Novo Nordisk's]( Wegovy for reducing heart risks. - [SK Hynix]( will invest $68 billion in the first chip plant in Yongin, South Korea. - [Metro Bank]( sold its mortgage portfolio to NatWest after a 16% profit decline. - [Petrobras]( is in the final stages of a refinery repurchase deal with Mubadala. - The [U.S. economy]( expanded at a healthy 2.8% annual rate in Q2. 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. 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