Dear Readers,

As we step into March 2024, let's take a glance at the stock market, which displayed a calm demeanor on Friday, despite celebrating a string of triumphs with a fourth consecutive month of gains. Leading the charge, the Nasdaq Composite index, known for its concentration of technology stocks, hit a milestone by recording its first closing high since November 2021.

The broader market also wrapped up February on a high note, propelled by the burgeoning artificial intelligence sector and optimistic expectations for upcoming rate cuts. In this month's performance tally, the Nasdaq emerged as the frontrunner with an impressive 6.1% gain. Not to be overshadowed, the S&P 500 posted a solid 5.2% increase, and the Dow Jones Industrial Average grew by 2.2%, marking its longest winning streak in four months since May 2021.

Adding to the economic landscape, data released on Thursday pointed to a measured uptick in inflation. The personal consumption expenditures price index, which strips out food and energy costs and serves as the Federal Reserve’s preferred inflation barometer, rose by 0.4% in January, a figure that met market forecasts squarely.

As of 12:04 PM ET, the Dow was up 40.8477 points, or 0.1047%, at $39037.24. The Nasdaq Composite added 149.8398 points, or 0.8304%, at $18193.69. The S&P 500 rose 21.8799 points, or 0.4293%, at $5118.15. Among the 11 major S&P 500 sectors, 10 showed positive movement, with Information Technology leading the way with a 0.85% increase.

Top Movers: Under $10

BioVie Inc (BIVI) is up 87.90% today to trade at the current level of $2.33. The company announced two upcoming presentations at the International Conference on Alzheimer’s and Parkinson’s Diseases 2024 (AD/PD™ 2024) to be held March 5-9, 2024 in Lisbon, Portugal.

Cardiff Oncology Inc (CRDF) zoomed 40.47% in today’s trade to $2.48 after releasing financial results for the fourth quarter and full year ended December 31, 2023.

In current trading, Therealreal Inc (REAL) stock is at $2.45 following the release of fourth quarter and full year 2023 results

Minim Inc (MINM) rose 27.44% in the early hours of today's trading to move at $5.48 after revealing a major stake held by private investor David Lazar.

In the current trading session, Myomo Inc (MYO) jumped 25.82% to $3.85 over a previous close of $3.06 after announcing that on February 29, 2024, the Centers for Medicare & Medicaid Services (CMS) posted the final Medicare Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) fee schedule payment rates for the MyoPro®.

Ex-Dividends Stocks

Newmont Corp (NEM) is about to trade ex-dividend Monday, 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 $0.25 per share. It has fixed March 05 as the record date for the same and will pay the actual dividend on March 28. Last year, the company distributed a total of $1.60 to its shareholders. Based on the last year's worth of payments, NEM has a trailing yield of 4.98% on the current stock price of $32.14.

Another stock that is shelling out dividends on Monday is Analog Devices Inc. (ADI), having a market capitalization of $96.27B. It will pay a dividend of $0.92 per share, the payment date of which is March 15. Currently, the stock is trading at a trailing dividend yield of 1.33%.

Shares of Chord Energy Corp (CHRD) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $3.25 per share, and in the last 12 months, it paid a total of $5.00 per share. Last year's total dividend payments show that CHRD has a trailing yield of 3.04% on the current share price of $164.71.

Alcoa Corp (AA) is also set to go ex-dividend on Monday. The next dividend payment from AA will amount to $0.1 per share. March 05 has been designated as the record date for this dividend, with the actual payout scheduled for March 21. In the previous year, AA distributed a total of $0.40 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for AA stands at 1.45% based on the current stock price of $27.68.

Diana Shipping Inc (DSX) will be paying out a dividend of $0.07 per share to shareholders holding their shares as of the close of the business hours on the record date of March 05. Over the past 12 months, DSX has paid out a total of $0.57 per share in dividends. Based on the total dividends paid out last year, DSX boasts an impressive trailing yield of 18.52% on the current share price of $3.10.

Crypto Market Highlights

Most Shorted Stocks

Atmus Filtration Technologies Inc (ATMU) was one of the most shorted stocks as of latest short interest figures, with 44.92% 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 9.8. This represents a change of 2210000 shares, which corresponds to a +44.20% increase in short interest. The total value of the shares held short is estimated to be around $173.62 million. The average daily volume stands at 839.90K shares, and the market capitalization of the company is $2.01B.

The Nukkleus Inc with the symbol NUKK currently has a short interest of 44.32%. The short interest has changed by 221700 shares. The days to cover ratio stands at 0.8. The estimated value of the shares held short is approximately $0.22 million. On an average day, 331.02K shares are traded, with the company's market capitalization totaling $2.49M.

For the stock Biomea Fusion Inc (BMEA), the current short interest is at 42.71%. This represents a significant short interest change of 1880000 shares, corresponding to a short interest percentage increase of +18.99%. The days needed to cover the short positions amount to 8.6. The approximate worth of the shares held short is $208.27 million.

With the symbol UCAR, the stock currently has a short interest of 41.48%. The short interest change is 5701500 shares. It would take approximately 0.2 days to cover all the short positions. The shares short value is estimated to be around $0.82 million. The company boasts an average daily volume of 28.58M shares, contributing to a market capitalization of $3.89M.

The stock ABR has a current short interest of 36.80%. The short interest percentage has experienced increase of +8.56% while there was a change of 5470000 shares in short interest. The ratio indicating the time required to cover short positions is 12.7. The calculated worth of the shorted shares amounts to around $79.68 million. Trading activity averages at 5.45M shares per day, while the company's market capitalization stands at $2.41B.

Energy Stocks to Watch

According to our ST Score evaluation, Navigator Holdings Ltd (NVGS) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 63.0. The stock's performance, growth, financial strength, stock sentiment, and Piotroski Score are strong. However, its profitability are weak. Additionally, it is neutral in terms of value, and forecast.

Our ST Score also classifies RPC, Inc. (RES) as a high-quality Energy stock today, presenting a Score of 63.0. The stock has strong fundamentals in terms of profitability, financial strength, stock sentiment, and Piotroski Score. However, it has weak performance, and growth. The value, and forecast are neutral.

Another stock in the category, ChampionX Corp. (CHX) has the ST Score of 62.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, stock sentiment, and Piotroski Score but weak in value. Growth, financial strength, and forecast suggest a neutral outlook.

Chord Energy Corp (CHRD) stock has the ST Score of 62.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, stock sentiment, and Piotroski Score. However, it shows neutral outlook in value, profitability, growth, and forecast.

DMC Global Inc (BOOM) currently has the ST Score of 61.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, performance, growth, stock sentiment, and Piotroski Score. The stock's profitability, financial strength, and forecast indicate a neutral outlook.

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