- Stocks Telegraph
- Posts
- Aug - 15 - ST- Midday Newsletter
Aug - 15 - ST- Midday Newsletter
Market Flash: Uncovering the Hidden Gems in Today's Trade!
The Newsheater daily Mid-Day newsletter is powered by Stocks Telegraph
Good Afternoon!Stocks experienced a decline on Tuesday due to apprehensions about the global economy, particularly focused on China, coupled with a decrease in U.S. banking stocks, exerting pressure on Wall Street.Financial stocks within the U.S. displayed weakness on Tuesday. Shares of JPMorgan Chase, Citigroup, Wells Fargo, and Bank of America registered a nearly 2% decline after Fitch cautioned about possible credit rating downgrades for several banks, including JPMorgan Chase. In the preceding week, Moody's had downgraded the ratings of ten U.S. banks and placed other major institutions on a watchlist for potential downgrades.At 12:55 PM ET, the Dow was down -326.36 points, or -0.92%, at 34981.27. The Nasdaq Composite lost -112.59 points, or -0.82%, at 13675.74. The S&P 500 declined -42.21 points, or -0.94%, at 4447.51. Among the 11 major S&P 500 sectors, 11 showed negative movement, with Energy leading the way with a -2.41% decrease. Regional banks also faced a downturn on Tuesday, with the SPDR S&P Regional Banking ETF experiencing a 2.4% decrease. This decline was influenced by remarks from Minneapolis Federal Reserve President Neel Kashkari, who advocated for "significantly further" capital regulation.This decline in stocks follows a positive session, primarily driven by a rally in Nvidia. The chipmaker saw a 7.1% increase on Monday, managing to recover most of its losses from the 8.5% decline it experienced the previous week.On the data front, U.S. retail sales data for July exceeded expectations, indicating robust consumer activity. Retail sales saw a 0.7% month-over-month increase, surpassing economists estimated 0.4% rise, according to Dow Jones.
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report,
"Top 5 EV Tech Stocks to Buy for 2023".
Sponsored
Top Movers: Under $10
Novo Integrated Sciences Inc. (NVOS) is up 59.10% today to trade at the current level of $0.11. This comes after the company announced a joint venture with Farm 7 Group for Kenya Cooperative Agricultural Project.
LL Flooring Holdings Inc. (LL) zoomed 26.00% in today’s trade to $4.72. This rally can be attributed to news that Board of Directors of LL Flooring Holdings Inc. announced exploration of strategic alternatives to maximize shareholder value.
In current trading, Tiziana Life Sciences Ltd (TLSA) stock is at $0.79 following news that the FDA has cleared the Investigational New Drug (IND) application for intranasal foralumab to be studied in Alzheimer's disease.
Electrameccanica Vehicles Corp. (SOLO) rose 18.81% in the early hours of today's trading to move at $0.80. The strong performance of SOLO stock came as investors were encouraged by the declaration from the company that it has entered into a definitive arrangement agreement, with Tevva, pursuant to which ElectraMeccanica and Tevva have agreed to combine by way of a British Columbia statutory plan of arrangement.
In the current trading session, Wearable Devices Ltd. (WLDS) jumped 15.49% to $1.30 over a previous close of $1.13 after announcing that it has completed the first commercial manufacturing batch of the Mudra Band for Apple Watch.
Revolutionary Company Could Disrupt The Entertainment Industry
Uncover the potential of this Entertainment company.
A Dawson James Securities analyst set a $10.00 target for this company signaling a 314% potential upside from its closing price of $2.41 on 6/9/2023.
A move to that target isn't certain, but when an analyst provides such a target, it's definitely worth noting quickly.
Would you like to know the name of this company?
Sponsored
Ex-Dividends Stocks
Coterra Energy Inc. (CTRA) 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 $0.2 per share. The company has fixed August 17 as the record date for the same and will pay the actual dividend on August 31. Last year, the company distributed a total of $1.65 to its shareholders. Based on the last years’ worth of payments, CTRA has a trailing yield of 5.98% on the current stock price of $27.58.
Another stock that is shelling out dividends tomorrow is Artisan Partners Asset Management Inc. (APAM), having a market capitalization of $2.99B. It will pay a dividend of $0.61 per share, the payment date of which is August 31. Currently, the stock is trading at a trailing dividend yield of 6.52%.
Shares of AudioCodes Ltd. (AUDC) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.18 per share, and in the last 12 months, the company paid a total of $0.36 per share. Last year's total dividend payments show that AUDC has a trailing yield of 3.31% on the current share price of $10.86.
Berkshire Hills Bancorp Inc. (BHLB) is also set to go ex-dividend tomorrow. The next dividend payment from BHLB will amount to $0.18 per share. August 17 has been designated as the record date for this dividend, with the actual payout scheduled for August 31. In the previous year, BHLB distributed a total of $0.72 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for BHLB stands at 3.26% based on the current stock price of $22.08.
Chesapeake Energy Corporation (CHK) will be paying out a dividend of $0.57 per share to shareholders holding their shares as of the close of the business hours on the record date of August 17. Over the past 12 months, CHK has paid out a total of $6.21 per share in dividends. Based on the total dividends paid out last year, CHK boasts an impressive trailing yield of 7.47% on the current share price of $83.02.
Our Top 4 "Cheap Stocks" for the Rest of 2023
The stock market has had a fantastic first half of 2023, with historic gains for the Nasdaq in particular.
And our analysts have uncovered 4 "cheap stocks" that could benefit from bullish conditions heading into the back half of the year.
A small move in share price can go a long way with these four.
Sponsored
Crypto Market Highlights
Binance Connect, Binance's regulated crypto trading arm, will close on August 16th, due to card payment service discontinuation, as affirmed by a Binance spokesperson and Biswap's tweet.Blockchain firm Blockstream aims to raise $50 million to buy and store undervalued mining equipment from secondary markets.Five executives from a Chinese Filecoin mining service are being sued for allegedly taking millions of dollars and leaving investors in a dire situation.A historic moment awaits Europe as Jacobi Asset Management launches the first spot Bitcoin ETF, the Jacobi FT Wilshire Bitcoin ETF.In Q2 2023, US-based Bitcoin ATM operator Bitcoin Depot achieved its highest-ever revenue, driven by a Nasdaq listing, and now aims for expanded growth.Customers of New Zealand's Dasset crypto exchange are unable to access funds as the company enters liquidation, according to its representative.
Strong Copper Market Fundamentals Make This A Company To Watch!
Investors - drilling begins for this exciting Cu-Au-Mo company! They are cashed up with an excellent exploration team in place and an exciting project to deploy them on. This company is now well positioned to benefit from strong copper market fundamentals.
Sponsored
Most Shorted Stocks
Fate Therapeutics Inc. (FATE) was one of the most shorted stocks as of latest short interest figures, with 35.95% 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 15.29. This represents a change of 1,961,354 shares, which corresponds to a 7.64% increase in short interest. The total value of the shares held short is estimated to be around $225.25 million. The average daily volume stands at 2.17M shares, and the market capitalization of the company is $304.62M.
The Nuvalent Inc. with the symbol NUVL currently has a short interest of 35.94%, a decrease from the previous short interest level of 36.66%. The short interest has changed by 88,751 shares. The days to cover ratio stands at 12.25. The estimated value of the shares held short is approximately $533.71 million. On an average day, 301.63K shares are traded, with the company's market capitalization totaling $2.45B.
For the stock Sunnova Energy International Inc. (NOVA), the current short interest is at 35.50%, compared to the previous level of 33.91%. This represents a significant short interest change of 1,397,290 shares, corresponding to a short interest percentage increase of 4.85%. The days needed to cover the short positions amount to 5.63. The approximate worth of the shares held short is $1.29 billion.
With the symbol HRMY, the stock currently has a short interest of 34.39%, showing a decrease from the previous level of 37.68%. The short interest change is 713,124 shares, compared with a short interest percentage change of -8.56%. It would take approximately 17.48 days to cover all the short positions. The shares short value is estimated to be around $729.25 million. The company boasts an average daily volume of 452.34K shares, contributing to a market capitalization of $1.98B.
The stock CPSS has a current short interest of 34.33%, lower than the previous short interest level of 35.25%. The short interest percentage has experienced decrease of -2.62% while there was a change of 32,682 shares in short interest. The ratio indicating the time required to cover short positions is 78.79. The calculated worth of the shorted shares amounts to around $35.94 million. Trading activity averages at 27.40K shares per day, while the company's market capitalization stands at $211.11M.
PROOF: New One Ticker (Weekly) Payouts
A multimillionaire stock trader's research explains how focusing on just one ticker every week has generated payouts up to a rare 2,614% in under 11 days...
AND he's brought proof to show the world!
Sponsored
EV Stocks to Watch
According to our ST Score evaluation, Alphabet Inc. (GOOG) emerges as a high-quality stock in the EV industry, attaining an impressive score of 58.0. The stock's performance, and growth are strong. However, its value is weak. Additionally, it is neutral in terms of profitability, financial strength, stock sentiment, Piotroski Score, and forecast.
Our ST Score also classifies Ayro Inc. (AYRO) as a high-quality EV stock today, presenting an AI Score of 55.0. The stock has strong fundamentals in terms of performance, and financial strength. However, it has weak profitability. The value, growth, stock sentiment, Piotroski Score, and forecast are neutral.
Another stock in the category, Kandi Technologies Group Inc. (KNDI) has the ST Score of 52.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, and financial strength but weak in profitability. Value, growth, stock sentiment, piotroski score, and forecast suggest a neutral outlook.
General Motors Company (GM) stock has the ST Score of 53.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, and Piotroski Score, but its weaknesses are in its financial strength. However, it shows neutral outlook in performance, growth, stock sentiment, and forecast.
STMicroelectronics N.V. (STM) currently has the ST Score of 55.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, and growth, while its weak points are its financial strength. The stock's value, performance, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
P.S. Want my daily watchlists sent to your cell phone too? Just go HERE and join my text message list!
Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.