Afternoon Insights: Best AI Winners & Budget Stocks

Good Evening Traders!

Stocks bounced back on Wednesday, moving into positive territory as Wall Street braced for the anticipated rollout of President Donald Trump’s tariffs.

As of 11:24 AM ET, the Dow was up 122.09 points, or 0.29076%, at $42112.05. The Nasdaq Composite added 62.58 points, or 0.32%, at $19499.01. The S&P 500 rose 16.49 points, or 0.29%, at $5649.56. Among the 11 major S&P 500 sectors, 11 showed positive movement, with Consumer Cyclical leading the way with a 2.02% increase.

The move comes ahead of the implementation of Trump’s series of reciprocal tariffs, which will “start with all countries,” according to the president’s statement on Sunday. The White House confirmed Tuesday that the tariffs “will be effective immediately” after being announced in a Rose Garden event scheduled for 4 p.m. ET.

Recent market volatility has been fueled by uncertainty surrounding Trump’s tariffs, with the broad market index down five out of the last six weeks. Despite this, some investors believe the sell-off has been overdone.

Top Movers: Under $10

Innovation Beverage Group Ltd (IBG) is up 157.71% today to trade at the current level of $1.27. This comes after the company announced that it has signed a distribution agreement with Republic National Distribution Company.

Digital Ally Inc (DGLY) zoomed 138.85% in today’s trade to $0.06 following the filing of the 8-K form with the SEC.

In current trading, ConnectM Technology Solutions Inc (CNTM) stock is at $1.02 after announcing a non-binding proposal from its three largest investors—SriSid LLC, Arumilli LLC, and Win-Light Global Co. Ltd.—to buy all remaining shares at $1.60 per share and take ConnectM private.

Allakos Inc (ALLK) rose 46.96% in the early hours of today's trading to move at $0.32 after announcing that it has entered into a definitive merger agreement whereby Concentra Biosciences, LLC will acquire Allakos for $0.33 in cash per share of Allakos common stock.

In the current trading session, Sunshine Biopharma Inc (SBFM) jumped 46.54% to $3.05 over a previous close of $2.08 after announcing positive results of mRNA therapy for cancer.

Ex-Dividends Stocks

Match Group Inc (MTCH) 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 03 as the record date for the same and will pay the actual dividend on April 17. Last year, the company distributed a total of $0.19 to its shareholders. Based on the last year's worth of payments, MTCH has a trailing yield of 0.61% on the current stock price of $31.16.

Shares of ChampionX Corp (CHX) will be the talk of the stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.1 per share, and in the last 12 months, it paid a total of $0.38 per share. Last year's total dividend payments show that CHX has a trailing yield of 1.27% on the current share price of $29.85.

Netapp Inc (NTAP) is also set to go ex-dividend Friday. The next dividend payment from NTAP will amount to $0.52 per share. April 04 has been designated as the record date for this dividend, with the actual payout scheduled for April 23. In the previous year, NTAP distributed a total of $2.06 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for NTAP stands at 2.29% based on the current stock price of $89.92.

Morningstar Inc (MORN) will be paying out a dividend of $0.46 per share to shareholders holding their shares as of the close of the business hours on the record date of October 03. Over the past 12 months, MORN has paid out a total of $1.67 per share in dividends. Based on the total dividends paid out last year, MORN boasts an impressive trailing yield of 0.57% on the current share price of $293.62.

Crypto Market Highlights

• Grayscale Investments launched two new Bitcoin outcome-oriented exchange-traded funds (ETFs).

• Kraken achieved a new registration in Canada as part of its latest compliance milestone.

• Pi Network's price nears all-time lows as more coins are unlocked.

• VanEck filed to register a Delaware trust company for an ETF tracking Binance-linked BNB cryptocurrency.

• GameStop Corporation (GME) completed a convertible debt offering raising $1.5 billion, with some funds allocated for purchasing Bitcoin.

 Most Shorted Stocks

SoundHound AI Inc (SOUN) was one of the most shorted stocks as of latest short interest figures, with 32.75% 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 2.1. This represents a change of -3150000 shares, which corresponds to a -2.63% decrease in short interest. The total value of the shares held short is estimated to be around $1.01 billion. The average daily volume stands at 46.44M shares, and the market capitalization of the company is $3.46B.

The Arbor Realty Trust Inc with the symbol ABR currently has a short interest of 32.69%. The short interest has changed by -3560000 shares. The days to cover ratio stands at 17.7. The estimated value of the shares held short is approximately $703.06 million. On an average day, 3.47M shares are traded, with the company's market capitalization totaling $2.24B.

For the stock Guess Inc (GES), the current short interest is at 32.08%. This represents a significant short interest change of 60000 shares, corresponding to a short interest percentage increase of +0.64%. The days needed to cover the short positions amount to 6.3. The approximate worth of the shares held short is $107.76 million.

With the symbol PLUG, the stock currently has a short interest of 31.52%. The short interest change is -100000 shares, compared with a short interest percentage change of -0.04%. It would take approximately 4.4 days to cover all the short positions. The shares short value is estimated to be around $12.72 million. The company boasts an average daily volume of 66.17M shares, contributing to a market capitalization of $1.31B.

The stock HIMS has a current short interest of 30.08%. The short interest percentage has experienced an increase of +5.57% while there was a change of 2890000 shares in short interest. The ratio indicating the time required to cover short positions is 2.6. The calculated worth of the shorted shares amounts to around $8.44 billion. Trading activity averages at 22.81M shares per day, while the company's market capitalization stands at $6.64B.

AI Stocks to Watch

According to our ST Score evaluation, Verisk Analytics Inc (VRSK) emerges as a high-quality stock in the AI industry, attaining an impressive score of 62. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies Palantir Technologies Inc (PLTR) as a high-quality AI stock today, presenting a Score of 60. The stock has strong fundamentals in terms of profitability, performance, financial strength, and Piotroski Score. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, Zoom Communications Inc (ZM) has the ST Score of 60, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, financial strength, and Piotroski Score. Growth, stock sentiment, and forecast suggest a neutral outlook.

iRhythm Technologies Inc (IRTC) stock has the ST Score of 59 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its performance and financial strength. However, it shows neutral outlook in profitability, growth, stock sentiment, Piotroski Score, and forecast.

Ansys Inc (ANSS) currently has the ST Score of 57, which signifies a huge upward potential. The AI stock's strong points are its profitability, performance, financial strength, and Piotroski Score, while its weak points are its growth. The stock's stock sentiment, and forecast indicate a neutral outlook.

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

Best Regards,

Stocks Telegraph Team

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