Monday, May 22, 2023

China Tries to Ban Chipmaker

Trade of the Day Wake-Up Watchlist

Attention Traders: It's Monday and our Lead Trading Tactician Nate Bear is giving you his weekly stocks to watch. Click the image below to see the potential trade setups he's looking at.

You can follow Nate on Daily Profits Live by clicking here as he continues his mission to turn $37,000 into $1 million in verified trading profits.

 

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures were flat on Monday. Traders closely monitored the ongoing negotiations surrounding the U.S. debt ceiling. President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet today to continue negotiations, as Treasury Secretary Janet Yellen warned that the U.S. could potentially default on its debt as early as June 1.

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Here's a look at the top-moving stocks this morning.

Micron Technology (Nasdaq: MU)

Micron Technology is down 4.75% premarket as news emerged regarding a potential ban on the company's chip sales to certain Chinese firms. This development could be considered as one of China's most significant retaliatory actions against the United States' attempts to limit the export of advanced semiconductor technology to China.

As China continues its attempt to gain a foothold on key technologies, it's crucial to consider U.S. semiconductor companies right now.

Click here to see why this chipmaker's stock could rise 525% as a result of China's sinister plan.

 

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Nio Inc. (NYSE: NIO)

Chinese electric vehicle (EV) manufacturer NIO Inc is up 2.11% premarket after it made an investment in Neo Fusion, a startup focused on fusion technologies. NIO endorses battery swapping as a faster solution for charging EVs and aims to enhance grid stability through an energy storage facility. Neo Fusion, backed by the Chinese government-owned energy companies and investment arms of Anhui province, will conduct research and development for global commercialization of controlled fusion over the next 20 years. NIO has invested 995 million renminbi ($145.42 million) to acquire a 19.9% stake, while NIO Capital, founded by NIO's CEO William Li, has invested 505 million renminbi ($73.81 million) for a 10.1% share in Neo Fusion.

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Those are the biggest stock movers for today.

Happy trading!

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