Happy Thursday Zingernation! Is there an opposite of insider trading? Like instead of making a trade with suspiciously perfect timing, you make one so bad it almost can’t be an accident? Is outsider trading a thing?

Well, if so, Dave “Davey Day Trader” Portnoy should be the poster boy. Just before noon today, he announced he bought the dip on Spirit Airlines. Seconds later, a report came out that the company was considering a restructuring, and the stock dropped another 25%.

Fortunately for the self-proclaimed King of Day Trading, the stock recovered by the end of the day, closing right around the level he bought in at. Stay diamond-handed, Davey Boy.

Today’s Price Action:

$SPY: +.89%
$QQQ: +1.42%
$DIA: +.56%

Also, this company enables you to invest in traditional high-rye bourbon.

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Why Apple’s Stock Moved Higher Today

Briefly: Apple’s stock defied Newton’s theory of gravitation and rose today, closing up more than 3%.

What Happened: I called out green texts in yesterday’s intro, obviously! Or maybe it had something to do with that analyst upgrade from Bank of America.

Analyst Take: BofA Securities analyst Wamsi Mohan upgraded Apple with a new price target of $225, up from $208, citing strong iPhone sales and growing demand for the latest hardware that supports AI technology.

Not On My Watch: Mohan also said recent legal struggles, like Apple’s patent issues with its smartwatch, are manageable and should not deter long-term investors.

What Next: Read more here.

PRESENTED BY ELICIO THERAPEUTICS

How Elicio Therapeutics Is Taking A Different Approach To Treating Cancers Like Colon Cancer, Expected To Be The Leading Killer Cancer By 2030

Elicio Therapeutics is at the forefront of cancer care with its AMP platform, transforming the landscape with cutting-edge immunotherapies. These innovations are designed not just to treat, but to strategically target and dismantle the very mutations that propel pancreatic and colon cancers. 

The company's leading candidate, ELI-002, embodies this approach, aiming to deliver accessible, non-customized vaccines that promise a new dawn for cancer treatment efficacy and availability.

Though further studies are needed to confirm its efficacy, the shot could improve survival for colon cancer, expected to be the number one cause of cancer deaths for people between 20-49 years of age by 2030, and pancreatic cancer, which has just a 12% survival rate after five years. 

There’s more, click here to keep reading.

FIVE MOVERS

e.l.f. stock took a hit today as some investors took profits after shares hit new all-time highs earlier in the week.

Rivian stock continued to decelerate following a downgrade from Deutsche Bank.

Honda Motor stock closed up in today’s session after the company projected significant growth in its U.S. auto sales.

Bitcoin dropped below $41,000 as traders continued to sell the news following the ETF approval. Not even a Cramer jinx could save the largest crypto.

Boeing stock took flight today, closing up more than 4% despite the bumpy ride, as investors began buying the dip in the beaten-down name.

ONE TRADE IDEA FOR TOMORROW

The 'Buy Everything' Market Is Over

Briefly: The “buy everything” sentiment that powered equity indices higher in Q4 2023 is over, according to Chaikin Analytics CEO Marc Chaikin. This is now a stock picker’s market.

So Basically: Chaikin appeared on Benzinga’s Pre-Market Prep today to discuss the state of the stock market in the new year.

So Then: According to Chaikin, “The Fed is driving the bus […] and they see no reason to rush rate cuts. So those wild forecasts of five to six cuts this year are pretty much off the table.”

So What? That means it won’t “be a ‘buy everything’ market in 2024” — but Chaikin is certainly into buying some things. Like, say, unsung semiconductor software stock Snyopsys, which the analyst calls “a steal down here.”

What Next: To check out the rest of Marc’s picks, click here.  

PRESENTED BY VINOVEST

Why wine as an asset class

It’s no secret that the stock market can get bumpy.

That’s why savvy minds smooth out their portfolio with fine wine.

Yes, you read that right. You can invest in fine wine. In fact, people have been doing so for hundreds of years, and with good reason.

Fine wine prices have:
- Appreciated 347.4% since 2004
- A near-zero correlation with the stock market (0.12, to be exact)
- Outperformed the S&P 500 during the last three recessions

But wine? Really? Only wine snobs can invest, right? Not so. Platforms like Vinovest allow anyone to invest in wine with the professional guidance from its team of industry experts. No sommelier certification required.

To learn more about wine investing, visit Vinovest today.