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Aug - 14 - ST- Midday Newsletter
Expert Insights on Today's Top Movers Under $10!
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Good Afternoon!On Monday, U.S. equities experienced mostly positive movement as investors anticipated upcoming earnings reports and economic indicators that could offer insights into the well-being of the American consumer.In the initial phases of the trading session, the bond market appeared to be the focal point, as the yield on the 10-year Treasury note approached levels not seen in over a decade. However, yields moderated later, with the 10-year yield hovering around 4.170%. This marked a decline from the 4.215% recorded earlier in the day and was in proximity to Friday's closing value. This yield adjustment contributed to an upswing in stock prices, notably benefiting technology companies' shares. These tech firms had recently faced some challenges following substantial gains earlier in the year. 12:34 PM ET, the Dow was down -48.46 points, or -0.14%, at 35232.94. The Nasdaq Composite added +68.65 points, or +0.5%, at 13713.49. The S&P 500 rose +11.01 points, or +0.25%, at 4475.06. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Utilities leading the way with a -0.84% decrease.
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Top Movers: Under $10
Zynerba Pharmaceuticals Inc. (ZYNE) is up 283.48% today to trade at the current level of $1.30. This comes after Harmony Biosciences announced a definitive agreement to acquire Zynerba.
Taysha Gene Therapies Inc. (TSHA) zoomed 131.19% in today’s trade to $1.71. This rally can be attributed to news that the company announced $150 million private placement financing.
In current trading, Hanryu Holdings Inc. (HRYU) stock is at $6.48 following the announcement from the company that it has partnered with SALTLUX for development of AI Powered Conversational Virtual Assistant on popular K-Culture Fandom Application, FANTOO.
TMC the metals company Inc. (TMC) rose 28.15% in the early hours of today's trading to move at $1.41. The strong performance of TMC stock came as investors were encouraged by the news of US$27 million registered direct offering at $2.00 per share plus class a warrants.
In the current trading session, Virios Therapeutics Inc. (VIRI) jumped 25.49% to $1.08 over a previous close of $0.86 after announcing halt to at-the-market offering sales.
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Ex-Dividends Stocks
Archer-Daniels-Midland Company (ADM) 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 $0.45 per share. The company has fixed August 16 as the record date for the same and will pay the actual dividend on September 06. Last year, the company distributed a total of $1.80 to its shareholders. Based on the last years’ worth of payments, ADM has a trailing yield of 2.12% on the current stock price of $84.92.
Another stock that is shelling out dividends tomorrow is First Majestic Silver Corp. (AG), having a market capitalization of $1.69B. It will pay a dividend of $0.01 per share, the payment date will be August 31.
Shares of Aramark (ARMK) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.11 per share, and in the last 12 months, the company paid a total of $0.44 per share. Last year's total dividend payments show that ARMK has a trailing yield of 1.14% on the current share price of $38.65.
Tomorrow, Bar Harbor Bankshares (BHB) is also set to go ex-dividend tomorrow. The next dividend payment from BHB will amount to $0.28 per share. August 16 has been designated as the record date for this dividend, with the actual payout scheduled for September 15. In the previous year, BHB distributed a total of $1.12 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for BHB stands at 4.22% based on the current stock price of $26.56.
ConocoPhillips (COP) will be paying out a dividend of $0.51 per share to shareholders holding their shares as of the close of the business hours on the record date of August 16. Over the past 12 months, COP has paid out a total of $5.34 per share in dividends. Based on the total dividends paid out last year, COP boasts an impressive trailing yield of 4.55% on the current share price of $117.39.
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Crypto Market Highlights
"Mr. Chen" has been found guilty by the Fuzhou Mawei People's Procuratorate for buying 94,988 Chinese yuan ($13,067) worth of Tether cryptocurrency on behalf of someone else, resulting in charges of "concealment and facilitation of a crime."TeraWulf, a Bitcoin mining firm, boosted mining capacity in H1 2023, yielding 1,441 BTC rewards. Q1 saw 508 BTC mined, and Q2 added 375 BTC through self-mining.Coinbase is teaming up with Peoples Trust Company to enhance services for Canadian users starting August 14th, expanding their cryptocurrency offerings.The Sandbox has unlocked 332 million SAND tokens, about 16% of its circulating supply, valued at approximately $133 million.Payment giant PayPal now lets users hold and use Bitcoin and other cryptocurrencies through its Cryptocurrencies Hub, following the launch of its stablecoin PayPal USD (PYUSD) and updated terms.
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Most Shorted Stocks
BIOLASE Inc. (BIOL) was one of the most shorted stocks as of latest short interest figures, with 38.33% 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 1.13. This represents a change of 2,710,181 shares, which corresponds to a -87.16% decrease in short interest. The total value of the shares held short is estimated to be around $5.5 million. The average daily volume stands at 199.73K shares, and the market capitalization of the company is $5.51M.
The Galectin Therapeutics Inc. with the symbol GALT currently has a short interest of 37.71% and decrease from the previous short interest level of 38.30%. The short interest has changed by 31,911 shares. The days to cover ratio stands at 35.6. The estimated value of the shares held short is approximately $7.89 million. On an average day, 60.68K shares are traded, with the company's market capitalization totaling $84.07M.
For the stock Beyond Meat Inc. (BYND), the current short interest is at 37.18%, compared to the previous level of 36.20%. This represents a significant short interest change of 609,022 shares, corresponding to a short interest percentage increase of 2.87%. The days needed to cover the short positions amount to 7.83. The approximate worth of the shares held short is $741.53 million.
With the symbol RYTM, the stock currently has a short interest of 36.26%, showing an increase from the previous level of 33.60%. The short interest change is 924,435 shares, compared with a short interest percentage change of 8.05%. It would take approximately 24.8 days to cover all the short positions. The shares short value is estimated to be around $898.64 million. The company boasts an average daily volume of 789.58K shares, contributing to a market capitalization of $1.50B.
The stock ARQT has a current short interest of 36.22%, higher than the previous short interest level of 35.34%. The short interest percentage has experienced an increase of 3.05% while there was a change of 450,407 shares in short interest. The ratio indicating the time required to cover short positions is 19.19. The calculated worth of the shorted shares amounts to around $363.27 million. Trading activity averages at 1.17M shares per day, while the company's market capitalization stands at $550.31M.
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Upcoming IPOs
Maison Solutions Inc. (MSS) is all set for its debut on the NASDAQ exchange on August 15. The shares will be offered at a fixed price of $4.00 per share. With a total of 3,750,000 shares available, the company aims to raise approximately $15.00M through this IPO.
Elephant Oil Corp. (ELEP) will be entering the market with its IPO on August 15, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $5.00. They plan to offer 1,666,667 shares, targeting a deal size of $7.50M.
Sacks Parente Golf, Inc. (SPGC) is also scheduled to make its debut on the NASDAQ exchange on August 15. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 3,000,000 shares, aiming for a deal size of $13.50M.
SRM Entertainment, Inc. (SRM) is set to join the NASDAQ on August 15. The shares will be offered at a fixed price of $5.00 per share. They are offering 1,250,000 shares, with an estimated deal size of $6.25M.
99 Acquisition Group Inc. (NNAG) will be capturing investors' attention as they hit the NASDAQ exchange on August 16. The shares will be offered at a fixed price of $10.00 per share. A total of 8,000,000 shares will be available, with the deal size projected to reach $80.00M.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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