Afternoon Briefing: Upcoming IPOs & $10 Surprises

The S&P 500 made a strong comeback on Monday, bouncing back from its sharpest weekly drop since September. Leading the charge were Super Micro Computer and Tesla, drawing investor attention for different reasons. Super Micro’s shares experienced significant losses ahead of a crucial deadline to submit a compliance plan to the Nasdaq Stock Exchange, aimed at securing its continued listing.

At 12:02 PM ET, the Dow edged lower by 16.55 points, or 0.0381%, to $43,428.45. The Nasdaq Composite climbed 212.72 points, or 1.043%, to $20,606.86, while the S&P 500 gained 24.63 points, or 0.42%, reaching $5,895.26. All 11 major S&P 500 sectors were in positive territory, with Energy leading the pack with a 1.45% boost.

Chip investors kept a close eye on Nvidia’s forthcoming earnings report, which is crucial for the AI sector after Wall Street expressed caution last week. The iShares Semiconductor ETF gained 0.4% in anticipation.

Tesla surged amid market speculation that the Trump administration could ease regulations for the deployment of self-driving cars. The consumer discretionary sector, driven by Tesla's performance, led the gains, joined by strength in energy, consumer staples, materials, and communication services. Conversely, technology, real estate, industrials, and healthcare sectors saw slight declines, each down around 0.2%.

Top Movers: Under $10

HCW Biologics Inc (HCWB) is up 375.22% today to trade at the current level of $1.40. This comes after the company announced a worldwide exclusive license agreement with WY Biotech Co., Ltd. to develop and commercialize one of HCWB’s product candidates generated with its new drug discovery platform for therapeutic use.

SINTX Technologies Inc (SINT) zoomed 36.27% in today’s trade to $2.78 after announcing stock repurchase program.

In current trading, Aclaris Therapeutics Inc (ACRS) stock is at $2.79 following the announcement of an exclusive, global license agreement with Biosion, Inc., adding potential Best-in-Class Biologics Assets to pipeline.

AtlasClear Holdings Inc (ATCH) rose 31.72% in the early hours of today's trading to move at $0.24 after releasing 1st quarter FY 2025 financials.

In the current trading session, AgEagle Aerial Systems Inc (UAVS) jumped 26.90% to $3.68 over a previous close of $2.90. The company announced it recently attended the White House by invitation to engage in strategic discussions regarding the future of commercial unmanned aerial vehicles (UAVs).

Ex-Dividends Stocks

Cognizant Technology Solutions Corp (CTSH) 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 $0.3 per share. It has fixed November 19 as the record date for the same and will pay the actual dividend on November 27. Last year, the company distributed a total of $1.19 to its shareholders. Based on the last year's worth of payments, CTSH has a trailing yield of 1.54% on the current stock price of $77.47.

Shares of Prudential Financial Inc (PRU) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0 per share, and in the last 12 months, it paid a total of $5.15 per share. Last year's total dividend payments show that PRU has a trailing yield of 4.04% on the current share price of $127.50.

Tomorrow, Timken Co (TKR) is also set to go ex-dividend tomorrow. The next dividend payment from TKR will amount to $0.34 per share. November 19 has been designated as the record date for this dividend, with the actual payout scheduled for November 29. In the previous year, TKR distributed a total of $1.34 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TKR stands at 1.78% based on the current stock price of $75.43.

Deluxe Corp (DLX) will be paying out a dividend of $0.3 per share to shareholders holding their shares as of the close of the business hours on the record date of Nov 19. Over the past 12 months, DLX has paid out a total of $1.20 per share in dividends. Based on the total dividends paid out last year, DLX boasts an impressive trailing yield of 5.12% on the current share price of $23.45.

Crypto Market Highlights

• Goldman Sachs is preparing to spin out its cryptocurrency platform, creating a new company focused on blockchain-based financial instruments, according to Bloomberg.

• Semler Scientific reports a 37.3% Bitcoin yield since adopting its Bitcoin treasury strategy earlier this year, showcasing notable growth for stakeholders.

• MicroStrategy continued to accumulate Bitcoin, purchasing 51,780 BTC for approximately $4.6 billion at an average price of $88,627 per BTC on Nov. 18, despite Bitcoin reaching new highs.

• Nepal's Financial Intelligence Unit (FIU) has discovered that cryptocurrencies are being widely used to facilitate cyber-related frauds, despite a national ban on digital asset trading.

• Authorities in Paju, South Korea, plan to seize and sell the cryptocurrency holdings of residents with unpaid taxes.

Most Shorted Stocks

Beyond Meat Inc (BYND) was one of the most shorted stocks as of latest short interest figures, with 42.61% 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 11.2. This represents a change of -130000 shares, which corresponds to a -0.50% decrease in short interest. The total value of the shares held short is estimated to be around $127.24 million. The average daily volume stands at 2.25M shares, and the market capitalization of the company is $308.91M.

The Spirit Airlines Inc with the symbol SAVE currently has a short interest of 34.66%. The short interest has changed by 840000 shares. The days to cover ratio stands at 3.7. The estimated value of the shares held short is approximately $41.62 million. On an average day, 12.25M shares are traded, with the company's market capitalization totaling $99.50M.

For the stock Symbotic Inc (SYM), the current short interest is at 34.51%. This represents a significant short interest change of -1580000 shares, corresponding to a short interest percentage decrease of -10.42%. The days needed to cover the short positions amount to 7.5. The approximate worth of the shares held short is $420.75 million.

With the symbol ASTS, the stock currently has a short interest of 33.91%. The short interest change is -850000 shares, compared with a short interest percentage change of -2.20%. It would take approximately 2.3 days to cover all the short positions. The shares short value is estimated to be around $357.55 million. The company boasts an average daily volume of 15.93M shares, contributing to a market capitalization of $6.73B.

The stock IBRX has a current short interest of 33.07%. The short interest percentage has experienced an increase of +2.27% while there was a change of 1170000 shares in short interest. The ratio indicating the time required to cover short positions is 10.8. The calculated worth of the shorted shares amounts to around $177.18 million. Trading activity averages at 4.98M shares per day, while the company's market capitalization stands at $3.00B.

Upcoming IPOs

Creative Global Technology Holdings Limited (CGTL) will be entering the market with its IPO on November 19, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $5.00. They plan to offer 1,250,000 shares, targeting a deal size of $5.63M.

Pony AI Inc. (PONY) is also scheduled to make its debut on the NASDAQ exchange on November 21. They are offering shares in the price range of $11.00 to $13.00. The IPO includes 15,000,000 shares, aiming for a deal size of $180.00M.

CO2 Energy Transition Corp. (NOEM) is set to join the NASDAQ on November 21. The shares will be offered at a fixed price of $10.00 per share. They are offering 6,000,000 shares, with an estimated deal size of $60.00M.

Fitness Champs Holdings Limited (FCHL) is all set for its debut on the NASDAQ exchange on November 21. They are offering shares in the price range of $4.00 to $5.00. With a total of 2,000,000 shares available, the company aims to raise approximately $9.00M through this IPO.

Brazil Potash Corp. (GRO) is preparing for its IPO on the NYSE exchange, scheduled for November 22. The company plans to offer shares in the range of $15.00 to $18.00. With 4,250,000 shares available, TechVerse aims to raise approximately $70.13M through the offering.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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