Afternoon Movers: Top Upcoming IPOs & $10 Stocks Heating Up

The S&P 500 kicked off the week on a positive note Monday, as tech stocks rallied ahead of a pivotal Federal Reserve meeting. The two-day policy meeting begins Tuesday, with the Fed widely expected to cut rates by a quarter point on Wednesday. Investors will be closely watching for forward guidance on future policy moves.

As of 11:55 AM ET, the Dow was up 4.02 points, or 0.0092%, at $43832.09. The Nasdaq Composite added 233.42 points, or 1.0717%, at $22013.6698. The S&P 500 rose 23.85 points, or 0.3941%, at $6074.93. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Energy leading the way with a 0.96% decrease.

This comes after a sluggish week for the markets. The Dow slid 1.8% and has now fallen for seven consecutive sessions. The S&P 500 dipped 0.6%, retreating in four of the last five sessions. Meanwhile, the Nasdaq outperformed, managing a modest 0.3% weekly gain.

All eyes now turn to the Fed—stay tuned for what could be a market-moving week!

Top Movers: Under $10

Webuy Global Ltd (WBUY) is up 76.14% today to trade at the current level of $0.31. This comes after the company announced its advancement to the next phase of NVIDIA’s AI Accelerator Program.

ASP Isotopes Inc. (ASPI) zoomed 17.00% in today’s trade to $5.85. The company issued a letter to shareholders.

In current trading, PLBY Group Inc (PLBY) stock is at $1.86 after closing strategic partnership with Byborg Enterprises SA.

Quantum Computing Inc (QUBT) rose 27.52% in the early hours of today's trading to move at $8.55 as enthusiasm behind this technology grows, despite commercialization yet to arrive.

In the current trading session, BigBear.ai Holdings Inc (BBAI) jumped 19.64% to $3.02 over a previous close of $2.52 after announcing a collaboration with Proof Labs Inc to deliver an advanced cyber resiliency solution for the Department of the Air Force (DAF).

Ex-Dividends Stocks

Allegion plc (ALLE) 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 $0.48 per share. It has fixed December 17 as the record date for the same and will pay the actual dividend on December 31. Last year, the company distributed a total of $1.89 to its shareholders. Based on last year's payments, ALLE has a trailing yield of 1.37%, and the current stock price is $138.43.

Shares of Nordic American Tankers Ltd (NAT) 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 $0.04 per share, and in the last 12 months, it paid a total of $0.42 per share. Last year's total dividend payments show that NAT has a trailing yield of 16.15% on the current share price of $2.60.

PulteGroup Inc (PHM) is also set to go ex-dividend tomorrow. The next dividend payment from PHM will amount to $0.22 per share. December 17 has been designated as the record date for this dividend, with the actual payout scheduled for January 03. In the previous year, PHM distributed a total of $0.80 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PHM stands at 0.68% based on the current stock price of $118.30.

ST Microelectronics (STM) will be paying out a dividend of $0.08 per share to shareholders holding their shares as of the close of the business hours on the record date of December 17. Over the past 12 months, STM has paid out a total of $0.30 per share in dividends. Based on the total dividends paid out last year, STM boasts an impressive trailing yield of 1.17% on the current share price of $25.62.

Crypto Market Highlights

• Ripple confirms its Ripple USD (RLUSD) stablecoin will begin global trading on Dec. 17.

• Anchorage Digital’s subsidiary receives BitLicense from New York’s Department of Financial Services (NYDFS).

• Canadian Deputy Prime Minister Chrystia Freeland announces her resignation as finance minister for a new cabinet position.

• Bitpanda receives in-principle authorization from VARA as it plans expansion into the UAE.

• MicroStrategy adds 15,350 BTC to its reserves, spending approximately $1.5 billion in cash.

Most Shorted Stocks

Nuwellis Inc (NUWE) was one of the most shorted stocks as of latest short interest figures, with 29.16% 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 0.1. This represents a change of 23000 shares, which corresponds to a +7.58% increase in short interest. The total value of the shares held short is estimated to be around $0.39 million. The average daily volume stands at 2.79M shares, and the market capitalization of the company is $5.03M.

The Spectral AI Inc with the symbol MDAI currently has a short interest of 34.09%. The short interest has changed by 2208900 shares. The days to cover ratio stands at 1.7. The estimated value of the shares held short is approximately $5.96 million. On an average day, 1.91M shares are traded, with the company's market capitalization totaling $37.11M.

For the stock Enovix Corporation (ENVX), the current short interest is at 30.68%. This represents a significant short interest change of 2040000 shares, corresponding to a short interest percentage increase of +4.40%. The days needed to cover the short positions amount to 8.0. The approximate worth of the shares held short is $378.74 million.

With the symbol IFBD, the stock currently has a short interest of 30.80%. The short interest change is 568200 shares, compared with a short interest percentage change of +1,271.14%. It would take approximately 1.8 days to cover all the short positions. The shares short value is estimated to be around $106.9 million. The company boasts an average daily volume of 347.89K shares, contributing to a market capitalization of $4.08M.

The stock ABR has a current short interest of 30.58%. The short interest percentage has experienced a decrease of -6.44% while there was a change of -3970000 shares in short interest. The ratio indicating the time required to cover short positions is 23.9. The calculated worth of the shorted shares amounts to around $8.86 million. Trading activity averages at 2.34M shares per day, while the company's market capitalization stands at $2.76B.

Upcoming IPOs

Health In Tech, Inc. (HIT) is all set for its debut on the NASDAQ exchange on December 17. They are offering shares in the price range of $4.00 to $5.00. With a total of 2,300,000 shares available, the company aims to raise approximately $10.35M through this IPO.

New Century Logistics (BVI) Limited (NCEW) will be entering the market with its IPO on December 18, 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.

Leishen Energy Holding Co., Ltd. (LSE) is also scheduled to make its debut on the NASDAQ exchange on December 18. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 1,375,000 shares, aiming for a deal size of $6.19M.

Park Ha Biological Technology Co., Ltd. (PHH) is set to join the NASDAQ on December 20. They are offering shares in the price range of $4.00 to $6.00. They are offering 1,200,000 shares, with an estimated deal size of $6.00M.

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

Best Regards,

Stocks Telegraph Team

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