This Tiny EV Stock Is Rising 130%

October 04, 2024 | [Read Online]( This Tiny EV Stock Is Rising 130% [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Elite%20Trade%20Club&body=This%20Tiny%20EV%20Stock%20Is%20Rising%20130%25%3A%20%0A%0Ahttps%3A%2F%2Felitetrade.club%2Fp%2Fthis-tiny-ev-stock-is-rising-130) Good morning. It's October 4th, and we begin the day with Spirit Airlines’ plummeting fortunes after reports it will file for bankruptcy. EV maker Rivian’s stock is also falling by 8%, but there’s a tiny EV manufacturer who is impressing investors today. Previous Close 📈 Stocks closed lower on Thursday as geopolitical tensions and rising oil prices weighed on the market. Investors are now focused on Friday’s September Payrolls Report, which could influence market direction heading into next week. Futures U.S. stock futures are relatively flat early Friday as traders await the release of the September Jobs Report. Dow futures are down 7 points, or 0.02%, while S&P 500 and Nasdaq 100 futures hover near the flatline. The port strike concluded Thursday night with a tentative wage agreement, easing one concern, but geopolitical uncertainty and economic data will continue to influence the market. Technology [This AI Tech Innovator Is Doubling Revenue]( This [fast-rising AI startup](is delivering 3.5X ROI to Fortune 1000 clients and has gained support from 7,800+ investors, including Adobe Fund, Meta, and Google. In just three years, its valuation surged from $5M to $85M, doubling its revenue while revolutionizing the marketing industry. With [shares currently available at $0.50]( and a [10% bonus through Oct. 15th](, this is a unique chance to invest in a company with proven traction and high-growth potential. The company’s innovative AI solutions are reshaping how businesses operate, creating even more opportunities for exponential growth. [Get in before it's too late — learn more and invest now.]( What to Watch The U.S. Nonfarm Payroll report, the U.S. Unemployment Rate, U.S. Hourly Wages, and Year-Over-Year Hourly Wages for September were all released at 8:30 a.m. Eastern. Following this, New York Fed President John Williams will give opening remarks at 9:00 a.m. Eastern, providing further insights into the labor market and economic outlook. On the earnings beat, Apogee Enterprises (NASDAQ: APOG) will report its quarterly numbers before the market opens. Airlines Spirit Airlines in Financial Turmoil, Stock Crashes Amid Bankruptcy Reports Spirit Airlines’ stock is plunging by 41% in before the opening bell today after reports that the low-cost carrier is in discussions with bondholders regarding a potential bankruptcy filing. The Wall Street Journal revealed late Thursday that Spirit has been exploring various restructuring options, with recent talks focusing on a possible Chapter 11 filing. While a bankruptcy declaration may not be immediate, the situation has sparked concerns among investors. The stock is reaching $1.32 in premarket trading, putting it on track to open at an all-time low. Even before the latest drop, Spirit shares had already plummeted by 86% in what has turned out to be a nightmarish 2024, as the airline has been battling mounting losses, declining sales, and a $3.3 billion debt load. Earlier this year, a federal judge blocked a proposed merger between Spirit and JetBlue Airways, citing concerns that the deal would negatively impact Spirit’s price-conscious customers. The airline’s financial woes have only deepened since. Electric Vehicles Rivian Cuts Annual Production Target, Misses Q3 Delivery Estimates as Stock Plunges Rivian’s stock is falling by more than 8% in premarket trading today after the firm lowered its full-year production forecast due to a worsening parts shortage. The EV manufacturer is now expecting to produce between 47,000 and 49,000 vehicles this year, down from its earlier estimate of 57,000. This revision means the firm anticipates producing fewer vehicles than it did in 2022. The parts shortage, which affects Rivian’s R1 SUV, R1T pickup trucks, and delivery vans, began in the third quarter and has intensified in recent weeks. The company also delivered fewer vehicles than expected in the third quarter, handing over 10,018 units, compared to analysts' forecast of 12,078. Rivian’s challenges are compounded by a broader slowdown in electric vehicle demand, as high interest rates prompt American consumers to opt for cheaper hybrids. The announcement is causing Rivian’s shares to drop. Earlier this year, Rivian temporarily shut down its Illinois plant for three weeks to streamline production and reduce costs, critical steps as the company seeks to ramp up R1 model production and prepare for its smaller R2 models slated for 2026. Pharmaceuticals Thermo Fisher's Plant Faces FDA Scrutiny Over Repeated Manufacturing Breaches Thermo Fisher Scientific’s Greenville, North Carolina, manufacturing plant has come under scrutiny after repeated breaches of FDA regulations over the past decade, including twice this year. The plant, which produces AstraZeneca and Sanofi's respiratory syncytial virus (RSV) drug Beyfortus, was cited for failing to meet manufacturing standards during a May inspection. However, the FDA and Sanofi stated that the issues have since been resolved, and no evidence has surfaced to suggest harm to patients. Thermo Fisher’s stock is trading nearly 1.5% below the previous close in premarket trade. The FDA audit identified 17 shortcomings, including inadequate sterilization processes and issues with inspecting particulate matter in injectable drugs. Of particular concern were findings regarding how Thermo Fisher measured and controlled bubble size in injectable medicines, which can cause dangerous blood clots. Thermo Fisher acquired the Greenville plant in 2017 as part of its purchase of contract manufacturer Patheon. The plant, one of the largest in the U.S., produces approximately 40 different medicines and received $49 million from the Department of Defense to support COVID-19 vaccine production. Despite these issues, Thermo Fisher remains a key player in the growing contract manufacturing market, which is expected to continue expanding due to the demand for complex biologics and obesity medications. FDA documents show that the Greenville plant has faced at least ten audits over the past decade, raising concerns among industry experts about the company’s long-term approach to quality control. High-Growth Gold Stock [Gold Prices Are Surging—This Small-Cap Gold Stock Could Be Next]( Gold prices are reaching new highs, and [a small-cap company with over 4 million ounces of reserves]( is positioned for massive growth. Despite its strong foundation, most investors haven’t noticed this opportunity yet. [Trading at just $0.25 per share](, this company offers a rare chance to get in early. With a strong leadership team and clear plans to expand production, it stands out in the competitive gold mining sector. The upward trend in the gold market isn’t slowing down, and this stock could be a game-changer for early investors. [Get the full details in this FREE report and see how to seize this opportunity.]( Movers and Shakers Beneficient [BENF] - Last Close: $1.19 Beneficient's stock is surging by 30% in premarket trading. The company announced the consummation of a significant transaction. The deal will result in the re-designation of approximately $126 million of its preferred equity as non-redeemable. This move, reclassifying $126 million of temporary equity to permanent equity on its balance sheet as of September 30, 2024, is expected to improve Beneficient's financial standing. In addition, the firm is adding Patrick J. Donegan to its Board of Directors. Patrick brings nearly thirty years of experience in compliance, legal, banking, and capital markets to Beneficient. My Take: BENF has extremely low trading volume, putting it at risk of high volatility. Be careful if you wish to invest here. Phoenix Motor [PEV] - Last Close: $0.35 Phoenix Motor shares are skyrocketing 128% before the opening bell. In its Q1 results that were released today, the electric vehicle maker saw a substantial increase in revenue, rising by 422.2% year-over-year to a record $9.4 million. The company also turned a profit, with diluted EPS of $0.44 per share, a significant improvement from the previous year's loss of $0.13 per share. This strong performance was largely driven by Phoenix Motor's acquisition of Proterra's Transit business at a price significantly below its fair market value, resulting in a notable bargain purchase gain. My Take: Despite prior challenges and a year-to-date decline of nearly 67%, Phoenix Motor's Q1 performance has reignited investor interest, leading to this dramatic surge. It could be an exciting stock to keep on your radar. aTyr Pharma [ATYR] - Last Close: $1.74 aTyr Pharma is up by 10% in premarket trading. The firm recently published a report in the European Respiratory Journal, which demonstrated the efficacy of its lead therapeutic candidate, efzofitimod, in treating pulmonary sarcoidosis. This breakthrough highlights efzofitimod’s potential to offer a more effective treatment option for pulmonary sarcoidosis, which currently relies on corticosteroids with serious long-term side effects. The results bolster aTyr’s position in developing therapies for interstitial lung diseases and inflammation-driven disorders. My Take: The stock has gained nearly 16% on a year-to-date basis and has been on an uptrend. It might be worth keeping a close watch on this for future growth. Must-Watch Stocks [Top Expert Reveals 2024’s Hottest Stock Picks]( One of the most successful stock pickers in the industry, Eric Fry, is back with his top recommendations for 2024. His track record includes 41 picks that soared over 1,000%, and [now he's identified companies primed for major growth in the coming year.]( This includes opportunities in the rapidly growing AI sector, and early investors could see substantial returns. Don’t miss your chance to get ahead of the market. [Download this brand-new report for FREE and uncover the stocks set to surge in 2024.]( Everything Else - [India’s]( structural reforms will nearly double per capita income and consumption in the next five years, says its Finance Minister. - The [EU]( is preparing for a potential trade conflict with China as tariffs on electric vehicles loom amid industry concerns. - India's biggest IPO is on the horizon as [Hyundai Motor]( seeks to sell a 17.5% stake at a $19 billion valuation. - A tentative wage deal has been reached as [dockworkers]( return to East Coast and Gulf Coast ports, easing labor tensions. - [BingEx's]( successful IPO signals recovery in investor sentiment and renewed interest in Chinese listings in the U.S. - [Brent crude]( has steadied below $78 amid fears of Israeli strikes on Iranian oil facilities, with prices rising nearly 8% this week. That’s all for today. Thank you for reading. If you have any feedback, please reply to this email. 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