Tiny Biotech Stock Surging 200%

September 13, 2024 | [Read Online]( Tiny Biotech Stock Surging 200% [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=Tiny%20Biotech%20Stock%20Surging%20200%25%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Ftiny-biotech-stock-surging-200) Good morning. It's September 13th, and today, we’ll take a look at Upwork’s growing troubles, Adobe’s decline after posting poor earnings, and a biotech stock that is surging by more than 200% in premarket trade. 📲 Want our updates via text message? Get Elite Trade Club's premarket insights and hottest stocks straight to your cell 100% for free. [Click here to sign up.]( Previous Close 📈 Stocks extended their gains on Thursday, with the S&P 500 and Nasdaq Composite marking their fourth consecutive winning sessions. Positive economic data, including moderating inflation, has supported expectations for a rate cut at the Federal Reserve’s meeting next week. Futures U.S. stock futures are rising today as traders continue to shake off September’s sluggish start. S&P 500 futures are up 0.2%, Nasdaq 100 futures have gained 0.1%, and Dow Jones futures have added 78 points, or 0.2%. Investors are focused on upcoming economic data, including import prices and consumer sentiment, to gauge market direction. What to Watch SelectQuote (NYSE: SLQT) and Cheetah Mobile (NYSE: CMCM) are set to announce their quarterly earnings before the market opens today. The Import Price Index for August, including figures excluding fuel, will be released at 8:30 a.m. Eastern. Later in the morning, the preliminary Consumer Sentiment Index for September will be published at 10:00 a.m. Eastern, offering insights into consumer confidence levels. Unlock Life-Changing Gains [This $700 Million Opportunity Could Be Your Key to Real Wealth]( [During our road trip on highway 66 we stopped at a local shop and I spotted in a dark corner this old map with pins and currencies left by visitors from all over the planet.]( The kind of investment opportunities that make people rich have long been reserved for industry insiders. But now, for the first time, you have the chance to access a $700 million off-market deal with the potential to deliver life-changing returns. This is your moment to break away from small gains and tap into serious wealth. [Take advantage of this opportunity today and start growing your fortune.]( Freelancing Upwork Faces Pressure from Engine Capital for Board Reshuffle Activist investor Engine Capital, holding a 4% stake in Upwork, is pushing for changes to the company's board, citing underlying issues that hinder the freelance platform’s performance. In a letter to the board today, Engine Capital's founder Arnaud Ajdler emphasized the need for a strategic overhaul without directly calling for the removal of CEO Hayden Brown. However, the letter also raised concerns over the board's effectiveness in overseeing the company's leadership. Ajdler highlighted that CEO Brown is now on her third management team in four years, having had three CFOs in that period. He noted former employees' frustrations over Upwork's lack of clear strategy and direction. Engine Capital also criticized the extended tenures of some directors, such as Chairman Thomas Layton and board member Greg Gretsch, pointing out potential conflicts due to existing business relationships among board members. The activist investor urged Upwork to streamline its platform, reduce costs, and expand its enterprise segment to better compete with rivals like Fiverr. Upwork's shares have plummeted 37% this year and are down about 85% from their peak in 2021, following a surge during the pandemic when remote work fueled growth in the freelancing market. Upwork has yet to respond to Engine Capital's demands. Airlines Boeing Faces Production Halt as 33,000 Workers Begin Strike Over Contract Dispute Thousands of Boeing factory workers have begun a strike at several plants in Washington state and other locations after overwhelmingly voting to reject a proposed contract that would have raised wages by 25% over four years. The strike, which started early this morning, involves 33,000 machinists, primarily based in Washington. It is set to disrupt production of the company's top-selling aircraft, including the 737 Max, 777, and 767 models. The union representing the workers, the International Association of Machinists and Aerospace Workers (IAM), announced that 94.6% of voting members rejected the tentative contract and 96% supported the strike. Workers criticized the offer as insufficient, noting that it failed to meet their demands for a 40% wage increase over three years and the restoration of traditional pensions. The proposed contract included a $3,000 lump sum payment, reduced health care costs, and a commitment to build the next new plane in Washington. Boeing responded by expressing a willingness to return to the negotiating table to reach a new agreement. CEO Kelly Ortberg, who took over six weeks ago, warned that the strike could jeopardize Boeing's recovery and damage its reputation further with airline customers. The strike is likely to have significant financial implications for Boeing, which has already lost over $25 billion in the past six years and is striving to regain its footing against European rival Airbus. An extended walkout could mirror the costly eight-week strike in 2008 that resulted in substantial deferred revenue losses for the aerospace giant. Technology Adobe’s Revenue Forecast Fails to Impress, AI Gains Not Yet Reflected Adobe shares are declining by about 8% in premarket trading after the company released a sales outlook that did not meet investor expectations for significant revenue from its artificial intelligence (AI) initiatives. Although Adobe has been integrating its AI technology, Firefly, into its creative software, such as Photoshop and Illustrator, investors are concerned about its ability to generate substantial revenue from these innovations. The company's fiscal fourth-quarter sales guidance fell short of Wall Street expectations. Adobe projected its digital media net new annual recurring revenue to be $550 million for the quarter ending in November, below analysts' estimate of $561.1 million. Total revenue is expected to reach up to $5.55 billion, slightly less than the anticipated $5.6 billion. As a result, Adobe shares fell by about 8% in premarket trading on Friday. During an earnings call, executives focused on customer adoption of AI tools rather than immediate monetization. Adobe's document-processing unit outperformed expectations, but concerns remain over its ability to translate AI innovations in its core creative software into significant financial returns. Flowing Revenue Stream [78 Dividend Stocks That Pay You Every Month]( Most dividend stocks pay quarterly, but only a handful pay every single month. These monthly dividend stocks provide a steady cash flow and allow you to reinvest faster, giving you more opportunities to grow your wealth. We’ve put together a list of 78 stocks that pay monthly dividends. [Claim your free list now and start earning consistent income every month.]( Movers and Shakers Tenon Medical, Inc. [TNON] - Last Close: $4.40 Tenon Medical stock is surging by 275% in premarket trading following the announcement of a $4.5 million public offering. This offering involves the sale of 1,222,850 shares of common stock and warrants to purchase an additional 1,222,850 shares at a combined price of $3.68 per share. The warrants, priced at $3.55 per share, are exercisable immediately and valid for five years. The funds raised will support Tenon's commercial activities and general corporate purposes. Moreover, the firm announced preparation for the initial alpha launch of the Company's new Catamaran SE SI Joint Fusion System targeted for the beginning of Q4. The strong investor interest and potential new capital have boosted market confidence, driving the stock price higher. My Take: Tenon Medical had recently run afoul of Nasdaq’s minimum float requirements, after which it had to execute a 1:8 reverse stock split. The firm has been taking steps to remain afloat on the exchange, so it would be best to keep this in the wait-and-watch bucket for now. Vision Marine Technologies Inc. [VMAR] - Last Close: $1.50 Vision Marine Technologies is rallying by over 110% in premarket trading. The company recently announced a strategic partnership with ePropulsion to launch the innovative Phantom Boat, made using plastic rotomolding technology. This partnership combines Vision Marine’s electric boating expertise with ePropulsion's cutting-edge electric propulsion systems, providing a zero-emission boating solution. The market is excited about this new collaboration and the potential for Vision Marine to expand its footprint in the growing electric boating industry, driving up the stock price. My Take: The stock hasn’t had the best of runs so far this year, and the company is also struggling with profitability. It would be best to remain cautious if you wish to trade this stock. Singular Genomics Systems, Inc. [OMIC] - Last Close: $5.65 Singular Genomics Systems shares are up 62.5% so far in premarket trade. The company announced yesterday that it received a non-binding acquisition proposal from Deerfield Management Company. Deerfield, a current stockholder, has offered to buy all outstanding shares for $10 per share in cash. Additionally, Deerfield plans to invite other major shareholders and management to roll over their shares into the new company. The board of Singular Genomics has formed a special committee to evaluate this proposal and other strategic options, leading to heightened investor interest and a significant boost in the stock price. My Take: With an acquisition target of $10, the exceptional movement in the stock is understandable. However, it would be best to adopt a cautious approach while keeping it on your radar. Transform Your Financial Future [Access High-Potential Investments Like Never Before]( For years, the biggest investment opportunities have been kept behind closed doors, accessible only to the financial elite. Now, that’s changing. You have the chance to get in on a $700 million off-market deal designed to deliver massive returns. This is your opportunity to grow your wealth and secure your financial future. [Don’t miss out—tap into this exclusive opportunity and start building real wealth today.]( Everything Else - CMA warned that a [Vodafone and Three]( merger could hurt customers and is seeking solutions. - [American firms]( are facing dwindling profits and confidence in China. - Worker unrest at [Samsung’s]( Indian plant has led to a share slump. - The [U.K. and Musk's X]( are in an ongoing dialogue over harmful content and potential regulatory action. - Analysts cut [Moderna's]( ratings after it pushed back its breakeven target. - [PwC's China operations]( are under threat after a record fine and suspension over the Evergrande scandal. - Private equity firms eye [Tricentis]( as Insight Partners explores a lucrative sale. - [BYD]( expanded its workforce to over 900,000 as China emphasizes job creation. 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. [Privacy Policy]( | [Advertiser Disclosure]( [tw]( [ig]( [yt]( [tk]( *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website, which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside these emails. 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