Is Graphite the New Lithium? 📈

Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Today is Wednesday, May 24th. I hope you have a great day in the market. Now, let's get ready to trade! Markets 📈 Stocks turned lower on Tuesday, and U.S. indexes closed deep in the red. The S&P 500 lost 1.1%, and the Nasdaq sold off for a 1.2% loss. The Dow fared better with a 0.6% decline, and the Russell 2K fell 0.4%. Futures are pointing to a lower open for U.S. stocks. Dow and S&P 500 contracts are both down by 0.3%. Sponsored [Is Graphite the New Lithium? 📈]( Did you know that graphite (NOT lithium) is the largest component of lithium batteries used for EV's? Unfortunately, there are no graphite-producing mines in North America today. This leaves the U.S. at the mercy of China for our vital graphite supply. But one small company could challenge China's dominance and deliver big windfalls for investors. [Get a Full Report Here (Ticker Included)]( Premarket Highlights 🔎 ⚪ None What to Watch Today 👀 Fed Minutes Minutes from this month's Fed meeting are scheduled to come out at 2 p.m. today, and investors will be looking closely. The market hopes the central bank will hold rates steady in June, and Fed officials have signaled a pause is possible. However, still-strong inflation, a tight job market, and a relatively strong economic output could give the Fed reason to raise rates again. Major Earnings 💰 Lowe's Companies, Inc. [LOW] ... AM Autozone, Inc. [AZO] ... AM Dick's Sporting Goods Inc [DKS] ... AM BJ's Wholesale Club Holdings, Inc. [BJ] ... AM Vipshop Holdings Limited Dr [VIPS] ... AM Williams-Sonoma, Inc.[WSM] ... AM Intuit Inc. [INTU] ... PM Palo Alto Networks, Inc. [PANW] ... PM Agilent Technologies, Inc. [A] ... PM V.F. Corporation [VFC] ... PM Economy 🏗 - Fed Gov. Christopher Waller speaks ... 12:40p - Minutes of Fed's May FOMC meeting ... 2:00p Running Hot 🔥 Gainers - Apexigen [APGN] >> +40.6% - Unique Fabricating [UFAB] >> +33.6% - Necessity Retail [RTL] >> +24.3% - Smart for Life [SMFL] >> +15.1% Decliners - Wisekey Intl. [WKEY] >> (25.0%) - CohBar [CWBR] >> (20.5%) - HeartCore Enterprises [HTCR] >> (21.9%) - PTC Therapeutics [PTCT] >> (18.6%) Palo Alto Networks [PANW] - Last Close: $189.74 An earnings beat is giving Palo Alto Networks a big boost this morning. The cybersecurity & IT firm released its fiscal Q3 results after Tuesday's close, and the numbers topped analysts' expectations. Non-GAAP EPS of $1.10 was up from $0.60 a year earlier and easily topped the consensus of $0.93. Palo Alto's total Q3 revenues came to $1.72 billion, up from $1.39 billion a year ago, and fell in line with the Street's $1.72 billion consensus. Palo Alto also hiked its full-year earnings guidance in response to the strong quarter. PANW is one of this morning's top Nasdaq 100 stocks with a 4.5% gain. My Take: PANW has performed well in 2023, and it's still clinging to an uptrend. However, its P/E ratio is an absurd 297.95, so the bottom could fall out quickly if investor sentiment sours. GigaCloud Tech [GCT] - Last Close: $5.66 GigaCloud Tech is rallying after an early morning earnings beat. The company released its Q1 results early Wednesday morning, and the results were pleasantly surprising. GigaCloud's EPS increased by 200% compared to last year and came to $0.39 per share for the quarter. Revenue grew 13.7% from last year to $127.8 million in Q1, and the company posted its best-ever gross profit of $29.6 million. The strong quarter lifted GCT to a 35.1% gain in today's premarket. My Take: Today's rally could put GCT ahead of a key resistance point at $6.50 per share. If it can hold onto its gains through today's close, it could be the beginning of a new positive trend. EpicQuest Education [EEIQ] - Last Close: $1.46 A major announcement is lifting shares of EpicQuest Education. The education solutions provider announced its Davis College has signed a memo of understanding with China's Chongqing College of Electronic Engineering. According to the press release, the deal will allow the companies to pursue research collaborations, and it has a period of 5 years. EpicQuest said the arrangement will expand opportunities for Davis College students. EEIQ is up 106.1% after announcing the deal. My Take: This move seems overdone, and education stocks with significant presence in China seem to be very erratic. There could be opportunity here, but it's not for the faint of heart. Minerva Surgical [UTRS] - Last Close: $0.1819 Minerva Surgical just landed a brand-new patent. Late Tuesday, the firm announced it was granted a U.S. patent for "medical systems and methods *for resecting and extracting tissue". Minerva Surgical now has extra protection for its intellectual property pertaining to this particular procedure. The patent application included a detailed abstract, technical drawings, and other info, but, overall, information on the new patent is somewhat sparse at this point. However, you couldn't tell that from looking at shares of UTRS. The stock is up 201.7% in the premarket, and it's this morning's most actively-traded mover. My Take: The market is very excited about this patent approval, but I am not sure if this is a legit rally or market manipulation. If you're in this one, I would be concerned about a pull back. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 to sign up now and get our watchlists sent directly to your phone! 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