AI Movers: $10 Bargains Breaking Out

U.S. stocks rose Wednesday morning as investors weighed signs of possible de-escalation in the Israel-Iran conflict and turned their focus toward the Federal Reserve’s closely watched interest rate decision.

As of 11:16 AM ET, the Dow was up 218.22 points, or 0.5169%, at $42434.03. The Nasdaq Composite added 111.59 points, or 0.51%, at $21830.67. The S&P 500 rose 27.09 points, or 0.45%, at $6009.81. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Real Estate leading the way with a 0.67% increase.

Oil prices pulled back after President Donald Trump said Iran had reached out and was preparing to send a delegation to Washington for negotiations. The announcement helped ease fears that had rattled markets earlier in the week amid rising geopolitical tensions in the Middle East.

The Federal Reserve’s rate decision is due at 2 p.m. ET, with markets overwhelmingly expecting policymakers to hold rates steady. However, traders will be paying close attention to Chair Jerome Powell’s post-meeting press conference and the release of the central bank’s “dot plot,” which outlines members’ projections for future rate moves.

Top Movers: Under $10 

Aptevo Therapeutics Inc (APVO) is up 332.14% today to trade at the current level of $12.19. This comes after the company announced an $8 million offering priced at-the-market under Nasdaq rules.

Ryde Group Ltd (RYDE) zoomed 132.14% in today’s trade to $0.41 after announcing the acquisition of a strategic 40% shareholding in Atoll Discovery Pte Ltd, a Singapore-based electric vehicle (EV) rental company.

In current trading, Biodexa Pharmaceuticals Plc ADR (BDRX) stock is at $1.18 after announcing that it had enrolled the first patient in its Phase 2a study for Tolimidone, a key milestone in its Type 1 diabetes drug development.

Reliance Global Group Inc (RELI) rose 33.64% in the early hours of today's trading to move at $2.90 after announcing that it has signed a non-binding Letter of Intent (LOI) to sell Fortman Insurance Agency, a wholly owned subsidiary for $5 million in cash.

In the current trading session, Lion Group Holding Ltd ADR (LGHL) jumped 29.86% to $3.61 over a previous close of $2.78 after announcing that it has secured a $600 million facility from ATW Partners to support the launch of its HYPE Treasury and on-chain initiative.

Ex-Dividends Stocks

Broadcom Inc (AVGO) is about to trade ex-dividend Friday, meaning that investors who buy the stock after Friday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.59 per share. It has fixed June 20 as the record date for the same and will pay the actual dividend on June 30. Last year, the company distributed a total of $2.23 to its shareholders. Based on last year's worth of payments, AVGO has a trailing yield of 0.88% on the current stock price of $254.41.

Another stock that is shelling out dividends Friday is Hackett Group Inc (HCKT), having a market capitalization of $667.21M. It will pay a dividend of $0.12 per share, the payment date of which is July 07. Currently, the stock is trading at a trailing dividend yield of 1.87%.

Shares of Gladstone Land Corp (LAND) 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 $0.05 per share, and in the last 12 months, it paid a total of $0.56 per share. Last year's total dividend payments show that LAND has a trailing yield of 5.59% on the current share price of $10.03.

OFS Capital Corp (OFS) is also set to go ex-dividend Friday. The next dividend payment from OFS will amount to $0.34 per share. June 20 has been designated as the record date for this dividend, with the actual payout scheduled for June 30. In the previous year, OFS distributed a total of $1.36 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for OFS stands at 14.95% based on the current stock price of $9.10.

Virco Manufacturing Corp (VIRC) will be paying out a dividend of $0.03 per share to shareholders holding their shares as of the close of the business hours on the record date of June 20. Over the past 12 months, VIRC has paid out a total of $0.10 per share in dividends. Based on the total dividends paid out last year, VIRC boasts an impressive trailing yield of 1.13% on the current share price of $8.39.

Crypto Market Highlights

• Coinbase Derivatives is expanding its partnership with Nodal Clear to allow USDC stablecoin as eligible collateral in U.S. futures markets.

• Norwegian crypto firm K33 aims to raise 85 million SEK ($8.9M) to acquire up to 1,000 Bitcoins for its company reserves.

• Pudgy Penguins is launching a Web3 skill-based game, Pengu Clash, on The Open Network (TON) blockchain.

• Bitmain, Canaan, and MicroBT are reportedly shifting ASIC production to the U.S., per a Reuters report.

• Iran-based crypto exchange Nobitex has been hacked for over $81 million in digital assets, according to ZachXBT.

Most Shorted Stocks

D-Wave Quantum Inc (QBTS) was one of the most shorted stocks as of the latest short interest figures, with 19.72% 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 5810000 shares, which corresponds to a +11.16% increase in short interest. The total value of the shares held short is estimated to be around $916.34 million. The average daily volume stands at 71.28M shares, and the market capitalization of the company is $4.95B.

The Sana Biotechnology Inc with the symbol SANA currently has a short interest of 35.28%. The short interest has changed by 2930000 shares. The days to cover ratio stands at 11.7. The estimated value of the shares held short is approximately $129.68 million. On an average day, 3.84M shares are traded, with the company's market capitalization totaling $662.00M.

For the stock Lovesac Company (LOVE), the current short interest is at 21.65%. This represents a significant change in short interest of 10,000 shares, corresponding to a short interest percentage increase of +0.34%. The days needed to cover the short positions amount to 5.5. The approximate worth of the shares held short is $51.62 million.

With the symbol AAOI, the stock currently has a short interest of 24.63%. The short interest change is 350000 shares, compared with a short interest percentage change of +3.31%. It would take approximately 2.8 days to cover all the short positions. The shares' short value is estimated to be around $55.73 million. The company boasts an average daily volume of 3.90M shares, contributing to a market capitalization of $1.08B.

The stock ASTS has a current short interest of 28.57%. The short interest percentage has experienced an increase of +5.62% while there was a change of 2460000 shares in short interest. The ratio indicating the time required to cover short positions is 4.3. The calculated worth of the shorted shares amounts to around $468.36 million. Trading activity averages at 11.21M shares per day, while the company's market capitalization stands at $14.08B.

AI Stocks to Watch

According to our ST Score evaluation, Micron Technology Inc (MU) emerges as a high-quality stock in the AI industry, attaining an impressive score of 58. The stock's profitability, performance, growth, and Piotroski Score are strong. However, its financial strength is weak. Additionally, it is neutral in terms of stock sentiment, and forecast.

Our ST Score also classifies RELX Plc ADR (RELX) as a high-quality AI stock today, presenting a Score of 56. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. However, it has weak financial strength. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, Taiwan Semiconductor Manufacturing ADR (TSM) has the ST Score of 56, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score, but weak in financial strength. Growth, stock sentiment, and the forecast suggest a neutral outlook.

Twilio Inc (TWLO) stock has the ST Score of 56 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and financial strength, but its weaknesses lie in its growth. However, it shows neutral outlook in stock sentiment, Piotroski Score, and forecast.

Autodesk Inc (ADSK) currently has the ST Score of 53, which signifies a huge upward potential. The AI stock's strong points are its profitability, performance, and Piotroski Score, while its weak points are its growth, and financial strength. 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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