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Alert: Today’s High Potential Picks Under $10
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Good Afternoon!
U.S. stocks faced a decline on Friday as investors processed Jerome Powell's Jackson Hole speech, revealing potential further actions by the central bank.
As of 11:34 AM ET, the Dow was up +125.76 points, or +0.37%, at 34225.18. The Nasdaq Composite lost -12.4 points, or -0.09%, at 13451.57. The S&P 500 rose +5.36 points, or +0.12%, at 4381.67. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Utilities leading the way with a 1.13% increase.
The market experienced volatility post Powell's statements, acknowledging the readiness to raise rates for inflation control. After a subdued trading day, the S&P 500 and Nasdaq struggled to maintain an initial rally catalyzed by Nvidia's robust earnings, resulting in their largest single-day drops since August 2.
The Dow also encountered its most substantial retreat since March. Despite Thursday's setbacks, the S&P 500 and Nasdaq entered Friday's session with modest weekly gains of 0.2% and 1.3% correspondingly. A positive finish could break their three-week losing streak.
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Top Movers: Under $10
Crown ElectroKinetics Corp. (CRKN) is up 12.00% today to trade at the current level of $1.40. This comes after the company provided second quarter business update.
Ardelyx Inc. (ARDX) zoomed 7.98% in today’s trade to $3.79 after Cantor Fitzgerald upgraded the stock from Neutral to Overweight.
In current trading, TD Holdings Inc. (GLG) stock is at $0.87 after its wholly-owned subsidiary Baiyu partnered with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. to procure cobalt materials.
Aurora Innovation Inc. (AUR) rose 5.00% in the early hours of today's trading to move at $2.94. The company will present at the Goldman Sachs Communacopia + Technology Conference on September 5, 2023 at 4:25 pm Pacific Time.
In the current trading session, Faraday Future Intelligent Electric Inc. (FFIE) jumped 6.54% to $0.1971 over a previous close of $0.19. The company recently shared a video interview with Sandra Button, Chair of Pebble Beach Concours d'Elegance, the World’s top luxury car collection exhibition.
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Ex-Dividends Stocks
Nordstrom Inc. (JWN) is about to trade ex-dividend Monday, meaning that investors who buy the stock after Monday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.19 per share. The company has fixed August 29 as the record date for the same and will pay the actual dividend on September 13. Last year, the company distributed a total of $0.76 to its shareholders. Based on the last year's worth of payments, JWN has a trailing yield of 5.13% on the current stock price of $14.81.
Another stock that is shelling out dividends on Monday is KeyCorp (KEY), having a market capitalization of $10.05B. It will pay a dividend of $0.2 per share, the payment date of which is September 15. Currently, the stock is trading at a trailing dividend yield of 7.60%.
Shares of Skyworks Solutions Inc. (SWKS) will be the talk of stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.68 per share, and in the last 12 months, the company paid a total of $2.72 per share. Last year's total dividend payments show that SWKS has a trailing yield of 2.61% on the current share price of $104.06.
Yum! Brands Inc. (YUM) is also set to go ex-dividend on Monday. The next dividend payment from YUM will amount to $0.6 per share. August 29 has been designated as the record date for this dividend, with the actual payout scheduled for September 08. In the previous year, YUM distributed a total of $2.42 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for YUM stands at 1.86% based on the current stock price of $130.34.
Cable One Inc. (CABO) will be paying out a dividend of $2.95 per share to shareholders holding their shares as of the close of the business hours on the record date of August 29. Over the past 12 months, CABO has paid out a total of $11.40 per share in dividends. Based on the total dividends paid out last year, CABO boasts an impressive trailing yield of 1.80% on the current share price of $634.79.
These stocks are flying well under the radar. But that may not be the case for long. The market may simply be overlooking a red-hot opportunity -- as they're doing with these three stocks.
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Crypto Market Highlights
The Hong Kong Monetary Authority (HKMA) released report on Aug. 25 revealing findings of Project Evergreen study on bond tokenization market impact.
XRP struggles as investors sell holdings post Judge's decision on security status; 29 million XRP worth $15M moved to exchange amid price decline.
HashKey, Asian crypto exchange, to offer BTC and Ether trading to Hong Kong retail customers from Aug. 28; investment limited to 30% of net worth.
FTX crypto exchange reports cybersecurity breach involving bankruptcy case claims agent, assures minimal customer data exposure, no impact on accounts or funds.
Mastercard discontinues cryptocurrency card partnership with Binance exchange, effective next month, as confirmed on Aug. 25.
Though the market has begun its shaky progress forward, stock prices could still take years to fully rebound, as could your returns…
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Most Shorted Stocks
Edible Garden AG Incorporated (EDBL) was one of the most shorted stocks as of latest short interest figures, with 41.29% 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 1. This represents a change of 1,065,232 shares, which corresponds to a 2290.23% increase in short interest. The total value of the shares held short is estimated to be around $3.34 million. The average daily volume stands at 1.33M shares, and the market capitalization of the company is $3.55M.
The Kenvue Inc. with the symbol KVUE currently has a short interest of 47.26%, an increase from the previous short interest level of 14.82%. The short interest has changed by 64,481,538 shares. The days to cover ratio stands at 2.36. The estimated value of the shares held short is approximately $4.59 billion. On an average day, 26.86M shares are traded, with the company's market capitalization totaling $44.06B.
For the stock BioXcel Therapeutics Inc. (BTAI), the current short interest is at 89.72%, compared to the previous level of 94.94%. This represents a significant short interest change of 290,441 shares, corresponding to a short interest percentage decrease of -4.13%. The days needed to cover the short positions amount to 2.99. The approximate worth of the shares held short is $28.28 million.
With the symbol AI, the stock currently has a short interest of 33.19%, showing an increase from the previous level of 30.97%. The short interest change is 2,205,396 shares, compared with a short interest percentage change of 7.17%. It would take approximately 2.05 days to cover all the short positions. The shares short value is estimated to be around $2.84 billion. The company boasts an average daily volume of 27.97M shares, contributing to a market capitalization of $3.24B.
The stock SMFL has a current short interest of 8.10%, higher than the previous short interest level of 7.27%. The short interest percentage has experienced an increase of 11.37% while there was a change of 11,950 shares in short interest. The ratio indicating the time required to cover short positions is 1. The calculated worth of the shorted shares amounts to around $1.81 million. Trading activity averages at 182.90K shares per day, while the company's market capitalization stands at $1.90M.
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Energy Stocks to Watch
According to our ST Score evaluation, Frontline plc (FRO) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 62.0. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of value, growth, stock sentiment, and forecast.
Our ST Score also classifies Overseas Shipholding Group Inc. (OSG) as a high-quality Energy stock today, presenting a Score of 61.0. The stock has strong fundamentals in terms of valuation, performance, stock sentiment, and Piotroski Score. However, it has weak profitability. The growth, financial strength, and forecast are neutral.
Another stock in the category, Gulfport Energy Corporation (GPOR) has the ST Score of 61.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, stock sentiment, and Piotroski Score but weak in financial strength. Value, profitability, growth, and forecast suggest a neutral outlook.
Profire Energy Inc. (PFIE) stock has the ST Score of 60.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its performance, financial strength, and stock sentiment, but its weaknesses are in its growth. However, it shows neutral outlook in value, profitability, Piotroski Score, and forecast.
Equinor ASA (EQNR) currently has the ST Score of 60.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, profitability, growth, and Piotroski Score, while its weak points are its performance. The stock's financial strength, 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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