Dear Readers,

Wednesday saw a rebound in the S&P 500 after a downturn on Wall Street, pushing the indices further away from their record highs.

As of 12:13 PM ET, the Dow was up +190.2 points, or 0.48%, at $39,472.53. The Nasdaq Composite lost -14.13 points, or -0.09%, at $16,302.84. The S&P 500 rose 11.95 points, or 0.23%, at $5,215.53.

As of Tuesday's closing bell, the S&P 500 has gained 2.1% for the month and 9.1% for the quarter. The Nasdaq has risen by 1.4% in March and 8.7% over the past three months, while the Dow has seen increases of 0.7% and 4.2% during the same periods.

These gains would represent the strongest first-quarter performance for the S&P 500 and Dow Jones since 2019 and 2021, respectively, when they surged by 13.1% and 7.4%. All three major indices are poised to achieve their fifth consecutive month of gains and their second straight quarter in positive territory.

Despite the upward trend, Michael Green, chief strategist at Simplify Asset Management, warns that any adverse external events could potentially trigger a correction in equities.

Looking ahead, investors will keep an eye on key data releases later this week, including jobless claims, gross domestic product figures, and consumer sentiment on Thursday. While the market will be closed on Good Friday, attention will be on reports related to personal income, consumer spending, and personal consumption expenditures expected in the morning.

Stock of the day

Allied Gaming & Entertainment Inc. (NASDAQ: AGAE)

Today's market is buzzing, and AGAE is leading the charge. Currently up by a striking 19%, AGAE is the stock on everyone's watchlist. Why is AGAE soaring? Our in-depth analysis uncovers the strategic plays behind this notable surge.

Discover why AGAE stands out in today's trading landscape and why investors are tuning in. Could this be the golden opportunity of the day?

Continue Reading...

Top Movers: Under $10

iBio Inc (IBIO) is up 126.52% today to trade at the current level of $2.62. This comes after the company announced that it has entered into a collaboration agreement with AstralBio, Inc. to discover, engineer, and develop novel antibodies to treat obesity and other cardiometabolic conditions.

MariaDB Plc (MRDB) zoomed 65.84% in today’s trade to $0.37 as Progress Software (NASDAQ: PRGS) confirmed it’s considering an offer for the cloud database company.

In current trading, Lixte Biotechnology Holdings Inc (LIXT) stock is at $3.15 following the release of publication of pre-clinical data in the online journal, Cancer Discovery, showing that its lead clinical compound, LB-100, can force cancer cells to give up their cancer-causing properties in a paper entitled “Paradoxical activation of oncogenic signaling as a cancer treatment strategy.”

Ouster Inc (OUST) rose 39.00% in the early hours of today's trading to move at $6.92 after announcing record revenue for the fourth quarter and full year 2023.

In the current trading session, Allego NV (ALLG) jumped 28.90% to $1.11 over a previous close of $0.86 after announcing a strategic partnership with Ford (NYSE: F) to bring ultra-fast charging infrastructure to hundreds of Ford dealerships across Europe.

Ex-Dividends Stocks

Andersons Inc. (ANDE) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.19 per share. It has fixed April 01 as the record date for the same and will pay the actual dividend on April 22. Last year, the company distributed a total of $0.74 to its shareholders. Based on the last year's worth of payments, ANDE has a trailing yield of 1.29% on the current stock price of $57.53.

Another stock that is shelling out dividends tomorrow is CubeSmart (CUBE), having a market capitalization of $9.99B. It will pay a dividend of $0.51 per share, the payment date of which is April 15. Currently, the stock is trading at a trailing dividend yield of 4.46%.

Shares of Micron Technology Inc. (MU) will be the talk of the stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.12 per share, and in the last 12 months, it paid a total of $0.46 per share. Last year's total dividend payments show that MU has a trailing yield of 0.39% on the current share price of $118.01.

Realty Income Corp. (O) is also set to go ex-dividend tomorrow. The next dividend payment from O will amount to $0.26 per share. April 01 has been designated as the record date for this dividend, with the actual payout scheduled for April 15. In the previous year, O distributed a total of $3.07 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for O stands at 5.75% based on the current stock price of $53.39.

Clear Secure Inc (YOU) will be paying out a dividend of $0.32 per share to shareholders holding their shares as of the close of the business hours on the record date of April 01. Over the past 12 months, YOU has paid out a total of $0.25 per share in dividends. Based on the total dividends paid out last year, YOU boasts an impressive trailing yield of 1.17% on the current share price of $21.33.

Crypto Market Highlights

• Casa introduces an inheritance feature to ease asset transfer from deceased estates

• US court rejects Coinbase's motion to dismiss SEC case

• 21Shares launches staking ETP for Toncoin

• Internet Computer community pledges $80 million for protocol decentralization

• CryptoQuant CEO sees sell-side liquidity crisis in movement of 2,000 Bitcoin

• Ripple's XRPL unlocks DeFi capabilities with new AMM protocol

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 83.10% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 5.7. This represents a change of 2500000 shares, which corresponds to a +6.24% increase in short interest. The total value of the shares held short is estimated to be around $121.24 million. The average daily volume stands at 7.48M shares, and the market capitalization of the company is $499.99M.

The Volcon Inc with the symbol VLCN currently has a short interest of 80.49%. The short interest has changed by 82400 shares. The days to cover ratio stands at 0.1. The estimated value of the shares held short is approximately $0.13 million. On an average day, 3.95M shares are traded, with the company's market capitalization totaling $0.19M.

For the stock Imperial Petroleum Inc (IMPP), the current short interest is at 64.96%. This represents a significant short interest change of -620000 shares, corresponding to a short interest percentage decrease of -14.03%. The days needed to cover the short positions amount to 6.5. The approximate worth of the shares held short is $11.44 million.

With the symbol CUTR, the stock currently has a short interest of 38.37%. The short interest change is 110000 shares, compared with a short interest percentage change of +1.46%. It would take approximately 4.2 days to cover all the short positions. The shares short value is estimated to be around $4.94 million. The company boasts an average daily volume of 1.85M shares, contributing to a market capitalization of $25.95M.

The stock IBRX has a current short interest of 40.37%. The short interest percentage has experienced an increase of +3.30% while there was a change of 1700000 shares in short interest. The ratio indicating the time required to cover short positions is 13.3. The calculated worth of the shorted shares amounts to around $38.79 million. Trading activity averages at 4.02M shares per day, while the company's market capitalization stands at $3.42B.

AI Stocks to Watch

According to our ST Score evaluation, Vertiv Holdings Co (VRT) emerges as a high-quality stock in the AI industry, attaining an impressive score of 57.0. The stock's profitability, growth, stock sentiment, and Piotroski Score are strong. However, its value and financial strength are weak. Additionally, it is neutral in terms of performance, and forecast.

Our ST Score also classifies UiPath Inc (PATH) as a high-quality AI stock today, presenting a Score of 55.0. The stock has strong fundamentals in terms of growth, financial strength, and stock sentiment. However, it has weak value. The profitability, performance, Piotroski Score, and forecast are neutral.

Another stock in the category, Digital Realty Trust Inc (DLR) has the ST Score of 51.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability and growth but weak in value, and stock sentiment. Performance, financial strength, piotroski score, and forecast suggest a neutral outlook.

Sprinklr Inc (CXM) stock has the ST Score of 62.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, financial strength, stock sentiment, and Piotroski Score, but its weaknesses are in its value. However, it shows a neutral outlook in performance, growth, and forecast.

Taiwan Semiconductor Manufacturing ADR (TSM) currently has the ST Score of 51.0, which signifies a huge upward potential. The AI stock's strong points are its profitability, and stock sentiment, while its weak points are its value and financial strength. The stock's performance, growth, Piotroski Score, and forecast indicate a neutral outlook.

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