Stocks stay hot in short trading week 🔥

Keep an eye on these 4 active stocks today...                                                                                                                                                                                                                                                                                                                                                                                                                 December 27, 2023 | [Read Online]( Chris Dinello December 27, 2023 Good Morning! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Now, let's get ready to trade! Markets 📈 Stocks came out of the gate swinging and notched solid gains in holiday-shortened trading week’s first session on Tuesday. - S&P 500 [+0.4%] - Dow [+0.4%] - Nasdaq [+0.5%] - Russell 2K [+1.2%] Futures are hovering near flat in early premarket trading. Sponsored [Ben Stein FREE Report: How Americans Are RUINING Retirement]( Rising interest rates... Skyrocketing inflation... Exploding debt... A looming recession... It's no wonder Americans are becoming concerned about their savings and investments. That's why Ben Stein wrote his newest report... This FREE REPORT shows YOU how you could protect your retirement savings before it's too late. Get started now to see how you can protect everything you've worked for! [Access the Guide on the Next Page >>]( Premarket Highlights 🔎 🏆 Nasdaq’s Dominates NYSE in IPO Race… Again For the fifth year running, Nasdaq is set to outpace the New York Stock Exchange (NYSE) in the number of initial public offerings (IPOs). This ongoing success underscores a significant shift in one of Wall Street's most iconic rivalries. 💰 IPO Fundraising Figures: - Nasdaq's Haul: IPOs on Nasdaq have accumulated $13.6 billion in 2023. - NYSE's Performance: The NYSE trails with $10.4 billion raised through new listings, as per Dealogic data. 📊 Rivalry Dynamics: Once recognized as the platform for dot-com companies, Nasdaq has evolved to compete head-to-head with NYSE for major IPOs. The once-dominant NYSE is witnessing a shift in its status, grappling with Nasdaq's aggressive push for large-scale listings. 🌐 Global Perspective: Some market experts believe the intense competition between Nasdaq and NYSE has elevated New York's status as a global IPO hub, contrasting with markets like London or Hong Kong, which are often led by a single exchange operator. 🚀 Notable Nasdaq Debuts in 2023: - Arm Holdings [ARM]: The U.K. chip designer's IPO, raising $5.2 billion, marked the largest of the year. - Instacart [CART]: The grocery-delivery service made a significant entry into the public market. - Nextracker [NXT]: A solar-technology provider, also chose Nasdaq for its market debut. Nasdaq's streak in leading the IPO race not only reflects its strategic growth but also highlights the evolving landscape of capital markets, where traditional lines between exchanges are increasingly blurred. What to Watch Today 👀 Holiday Trading Week As I said yesterday, I am anticipating a slow trading week. This week’s schedule for earnings & economic updates is very thin, and most of the country will be in holiday mode until after the New Year holiday on Monday. However, I’m currently seeing above average volume in today’s premarket, so there could be some short-term trade opportunities on the table. Featured Earnings 💲 - Bridgeline Digital [BLIN] ... PM Economy 🏗 - None. Running Hot 🔥 Gainers - Bit Brother [BETS] >> +58.1% - JetAI [JTAI] >> +44.9% - Opthea [OPT] >> +25.7% Decliners - Iovance Biotherapeutics [IOVA] >> (22.5%) - Baosheng Media [BAOS] >> (18.5%) - 60 Degrees Pharma [SXTP] >> (16.4%) Cytokinetics [CYTK] - Last Close: $30.57 New clinical data shows the small-cap biotech’s aficamten drug candidate met its primary endpoint in a SEQUOIA-HCM Phase 3 trial for heart disease. Cytokinetics said the drug produced statistically significant and clinically meaningful results in all secondary endpoints and its primary efficacy endpoint. Aficamten was also well-tolerated among patients and produced an adverse event profile similar to placebo. CYTK is a top mover with a 52.3% gain on 1.8 million shares traded. My Take: CYTK could be benefiting from an elevated short ratio, which is listed at 13.84% as of Nov. 30th. Plus, the stock is on a tear, with shares up 30.1% over the past 10 trading sessions. First Wave BioPharma [FWBI] - Last Close: $3.69 The tiny biotech has landed a non-binding deal to sell its niclosamide program for inflammatory bowel disease to an undisclosed pharma firm. According to a company press release, the deal includes “a low seven-figure upfront payment” and “economics related to future milestones and royalties.” The announcement was light on specifics, but the market doesn’t seem to mind. FWBI is this morning’s top stock with a 212.5% gain on 3.4 million shares traded. My Take: FWBI had a 47.33% short percentage as of Nov. 30th, so I reckon that a short squeeze is the driving force behind this dramatic rally. Cingulate [CING] - Last Close: $1.98 This clinical-stage biopharma firm is suddenly rebounding in what appears to be a natural correction after a long row of losses. Cingulate’s latest sell-off began after the company reported a misfire in its clinical trial for its CTx-2103 anxiety drug. Just last week, it announced the sudden departure of its CFO, prompting a flurry of analyst downgrades. Shares are down 72.3% over the past 30 days and 90.1% YTD. However, we’re seeing a sudden pivot today despite no obvious catalyst. CING is up 82.3% on over 7.9 million shares traded. My Take: CING appears to have bottomed out at around $2 per share, for now at least. There’s not telling how high the wave could carry this stock, but I would expect some fierce resistance around $5.50 per share. Coherus Bio [CHRS] - Last Close: $2.18 The FDA has approved Udenyca Onbody, a medical device used to deliver Udenyca therapeutics to cancer patients. Udenyca is a pegfilgrastim biosimilar administered a day after chemotherapy to reduce the risk of infection, according to Coherus Bio. The company expects the delivery mechanism to be available on the open market as soon as Q1 2024. CHRS is up 41.2% on nearly 6 million shares traded. My Take: CHRS has been showing signs of progress lately, and this catalyst could be the kick start it needs. This tiny biotech could be worth watching. That's it for today! Thanks for reading, and good luck out there! Best Regards, — Chris D. Elite Trade Club Join Elite Growth Stocks now for INSTANT-ACCESS to our highest-rated research report. 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