Affordable Assets: Don't Miss These Stocks Under $10!

US stocks edged higher on Thursday, despite mixed economic data and lingering concerns about high oil prices, rising bond yields, and the potential for a government shutdown next week. The yield on the 10-year US Treasury hit a fresh 16-year high of 4.647%, up 2.1 basis points, while West Texas Intermediate crude oil fell 78 cents to $92.9 a barrel.

As of 11:37 AM ET, the Dow was up 157.6523 points, or 0.46%, at $33707.92. The Nasdaq Composite added 118.1162 points, or 0.81%, at $14698.27. The S&P 500 rose 28.1504 points, or 0.65%, at $4302.66. Among the 11 major S&P 500 sectors, 10 showed positive movement, with Communication Services leading the way with a 1.22% increase.

Initial jobless claims ticked higher for the week ending September 23, reaching 204,000 versus the forecast of 215,000. The job market has remained surprisingly strong despite much higher interest rates, helping to fuel household spending and keep the economy out of recession. However, this strength may also be contributing to inflationary pressures.

The government may shut down next week if Congress doesn't agree on a funding bill. This could make the economic crisis worse, especially since the Federal Reserve is trying to keep interest rates high to fight inflation.

Stocks have plummeted this month as investors brace for a new normal of higher interest rates. The Federal Reserve has already raised its main interest rate to its highest level since 2001 in an effort to combat inflation, and it signalled last week that it may cut rates less than expected next year.

Top Movers: Under $10

Bionomics Ltd. ADR (BNOX) is up 219.75% today to trade at the current level of $3.15 following the announcement of encouraging topline outcomes from the Phase 2b ATTUNE trial of BNC210, a potential breakthrough in PTSD treatment.

Baudax Bio Inc (BXRX) zoomed 95.17% in today’s trade to $0.59 after FDA granted Orphan Drug Status to Baudax Bio's TI-168 for Hemophilia A with Inhibitors.

In current trading, Chico's Fas Inc. (CHS) stock is at $7.51 as it officially seals the deal for acquisition by Sycamore Partners, a prominent private equity firm renowned for its retail and consumer-related investments.

Organogenesis Holdings Inc (ORGO) rose 19.25% in the early hours of today's trading to move at $3.16 after MACs roll back local coverage determinations for DFU and VLU treatments.

In the current trading session, Sarcos Technology and Robotics Corporation (STRC) jumped 12.84% to $0.76 over a previous close of $0.67 after Sarcos Defense, an STRC Subsidiary, lands $13.8 million contract with Warner Robins Air Logistics Complex.

Ex-Dividends Stocks

Air Products & Chemicals Inc. (APD) 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 $1.75 per share. The company has fixed October 02 as the record date for the same and will pay the actual dividend on November 13. Last year, the company distributed a total of $6.86 to its shareholders. Based on the last year's worth of payments, APD has a trailing yield of 2.38% on the current stock price of $288.53.

Another stock that is shelling out dividends tomorrow is CubeSmart (CUBE), having a market capitalization of $8.62B. It will pay a dividend of $0.49 per share, the payment date of which is October 16. Currently, the stock is trading at a trailing dividend yield of 5.17%.

Shares of Fulton Financial Corp. (FULT) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.16 per share, and in the last 12 months, the company paid a total of $0.66 per share. Last year's total dividend payments show that FULT has a trailing yield of 5.37% on the current share price of $12.27.

Pegasystems Inc. (PEGA) is also set to go ex-dividend tomorrow. The next dividend payment from PEGA will amount to $0.03 per share. October 02 has been designated as the record date for this dividend, with the actual payout scheduled for October 16. In the previous year, PEGA distributed a total of $0.12 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PEGA stands at 0.27% based on the current stock price of $42.44.

State Street Corp. (STT) will be paying out a dividend of $0.69 per share to shareholders holding their shares as of the close of the business hours on the record date of October 02. Over the past 12 months, STT has paid out a total of $2.64 per share in dividends. Based on the total dividends paid out last year, STT boasts an impressive trailing yield of 3.91% on the current share price of $67.47.

Crypto Market Highlights

Most Shorted Stocks

Grom Social Enterprises Inc (GROM) was one of the most shorted stocks as of latest short interest figures, with 37.32% 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 0.7. This represents a change of 139500 shares, which corresponds to a +536.54% increase in short interest. The total value of the shares held short is estimated to be around $0.23 million. The average daily volume stands at 227.46K shares, and the market capitalization of the company is $0.63M.

The Intercept Pharmaceuticals Inc with the symbol ICPT currently has a short interest of 36.54%. The short interest has changed by 1940000 shares. The days to cover ratio stands at 8.5. The estimated value of the shares held short is approximately $229.15 million. On an average day, 1.57M shares are traded, with the company's market capitalization totaling $775.67M.

For the stock SMX (Security Matters) Plc (SMX), the current short interest is at 35.21%. This represents a significant short interest change of 59100 shares, corresponding to a short interest percentage increase of +46.72%. The days needed to cover the short positions amount to 0.6. The approximate worth of the shares held short is $0.24 million.

The stock HSDT has a current short interest of 34.90%. There was a change of 155900 shares in short interest. The ratio indicating the time required to cover short positions is 0.5. The calculated worth of the shorted shares amounts to around $41.61 million. Trading activity averages at 397.90K shares per day, while the company's market capitalization stands at $5.07M.

Biotech Stocks to Watch

According to our ST Score evaluation, Vanda Pharmaceuticals Inc (VNDA) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 66.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of performance, growth, stock sentiment, and forecast.

Our ST Score also classifies Genmab ADR (GMAB) as a high-quality Biotech stock today, presenting a Score of 65.0. The stock has strong fundamentals in terms of profitability, growth, financial strength, stock sentiment, and Piotroski Score. However, it has weak value. The performance, and forecast are neutral.

Another stock in the category, Ligand Pharmaceuticals Inc. (LGND) has the ST Score of 64.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, financial strength, stock sentiment, and Piotroski Score. Value, performance, growth, and forecast suggest a neutral outlook.

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

Voyager Therapeutics Inc (VYGR) currently has the ST Score of 60.0, which signifies a huge upward potential. The Biotech stock's strong points are its valuation, profitability, and stock sentiment, while its weak points are its financial strength. The stock's performance, growth, Piotroski Score, and forecast indicate a neutral outlook.

AI