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- Aug - 17 - ST- Midday Newsletter
Aug - 17 - ST- Midday Newsletter
Inside: The Most Shorted Stocks & Opportunities They Present!
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Good Afternoon!The S&P 500 exhibited minimal change on Thursday as investors absorbed the most recent wave of earnings reports and economic data, all while carefully evaluating the future course of Federal Reserve monetary policy.These developments unfolded in the wake of a second consecutive decline across the three major stock indices. In the preceding session, the S&P 500 underwent a decrease of 0.76%, accompanied by a 0.52% dip for the Dow and a more substantial slide of 1.15% for the Nasdaq Composite.The sentiment within the markets has been influenced by investors' apprehensions, which were further accentuated by the comments made during the central bank's July meeting minutes. The potential necessity for additional tightening measures to combat inflation concerns has shaped market perceptions. At present, the federal funds rate maintains a range of 5.25% to 5.5%.Thursday witnessed the 10-year U.S. Treasury yield reaching its highest point since October 2022. Notably, it hovered just below this peak, trading at 4.282%.As of 12:27 PM ET, the Dow was up +23.55 points, or +0.07%, at 34789.29. The Nasdaq Composite lost -10.4 points, or -0.08%, at 13464.23. The S&P 500 rose +6.88 points, or +0.16%, at 4411.21. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Energy leading the way with a 2.17% increase.
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Top Movers: Under $10
PhenomeX Inc. (CELL) is up 137.50% today to trade at the current level of $0.95. This comes after Bruker Corporation (BRKR) revealed plans to acquire PhenomeX Inc. at $1.00 per share in an all-cash deal.
Recruiter.com Group Inc. (RCRT) zoomed 20.01% in today’s trade to $0.22 following the announcement of Job Mobz's acquisition of the renowned Recruiter.com brand in a cash and stock transaction.
In current trading, Advanced Health Intelligence Ltd. (AHI) stock is at $4.62 as the company's successful submission for overseas R&D reimbursement eligibility under the Australian Government's Tax Incentive Scheme marked a significant stride in innovation and research commitment.
Jupiter Wellness Inc. (JUPW) rose 22.55% in the early hours of today's trading to move at $1.25. The strong performance of JUPW stock came as investors were encouraged by Jupiter Wellness, Inc. forging a strategic alliance with a respected contract beverage manufacturer to initiate Safety Shot production in Q4 2023, underscoring the company's commitment to health and wellness innovations.
In the current trading session, Aditxt Inc. (ADTX) jumped 18.50% to $0.36 over a previous close of $0.30 following the announcement of Aditxt, Inc. (NASDAQ: ADTX) implementing a 1-for-40 reverse stock split scheduled for August 18, 2023, as part of its ongoing efforts in immune system-focused innovation.
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Ex-Dividends Stocks
ADTRAN Holdings Inc. (ADTN) 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 $0.09 per share. The company has fixed August 21 as the record date for the same and will pay the actual dividend on September 05. Last year, the company distributed a total of $0.36 to its shareholders. Based on the last years’ worth of payments, ADTN has a trailing yield of 4.40% on the current stock price of $8.19.
Another stock that is shelling out dividends tomorrow is Advanced Energy Industries Inc. (AEIS), having a market capitalization of $4.23B. It will pay a dividend of $0.1 per share, the payment date of which is September 01. Currently, the stock is trading at a trailing dividend yield of 0.36%.
Shares of Ares Dynamic Credit Allocation Fund Inc. (ARDC) will be the talk of stock market on Friday 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 $1.35 per share. Last year's total dividend payments show that ARDC has a trailing yield of 10.53% on the current share price of $12.82.
Atmos Energy Corporation (ATO) is also set to go ex-dividend tomorrow. The next dividend payment from ATO will amount to $0.74 per share. August 21 has been designated as the record date for this dividend, with the actual payout scheduled for September 05. In the previous year, ATO distributed a total of $2.96 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ATO stands at 2.52% based on the current stock price of $117.47.
Cognizant Technology Solutions Corporation (CTSH) will be paying out a dividend of $0.29 per share to shareholders holding their shares as of the close of the business hours on the record date of August 21. Over the past 12 months, CTSH has paid out a total of $1.16 per share in dividends. Based on the total dividends paid out last year, CTSH boasts an impressive trailing yield of 1.67% on the current share price of $69.46.
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Crypto Market Highlights
Coinbase, a prominent platform for trading cryptocurrencies, is set to halt the trading activity of stablecoins like Tether (USDT), DAI, and RAI specifically for its Canadian user base. This suspension is scheduled to take effect from the 31st of August onwards.Following a U.S. bankruptcy court order, customers of the defunct crypto lending firm BlockFi are now able to withdraw funds after months of being unable to do so.BitExchange has added XRP-linked options to its crypto derivatives platform, enabling users to trade XRP options without owning the cryptocurrency. This feature was announced in a statement on August 17th.CME Group is responding to growing institutional crypto interest in Asia by launching Bitcoin and Ether reference rates for the Asia Pacific region.Bitcoin hit a fresh high in Argentina after Bitcoin-friendly candidate Javier Milei's primary election win on August 13. On August 14, 1 BTC was valued at 10 million Argentine pesos, per CoinGecko data.
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Most Shorted Stocks
Celsius Holdings Inc. (CELH) was one of the most shorted stocks as of latest short interest figures, with 32.98% 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 10.89. This represents a change of 113,395 shares, which corresponds to a -1.08% decrease in short interest. The total value of the shares held short is estimated to be around $5.49 billion. The average daily volume stands at 1.35M shares, and the market capitalization of the company is $13.23B.
The Digimarc Corporation with the symbol DMRC currently has a short interest of 32.50%, a decrease from the previous short interest level of 35.11%. The short interest has changed by 195,187 shares. The days to cover ratio stands at 27.74. The estimated value of the shares held short is approximately $255.19 million. On an average day, 129.23K shares are traded, with the company's market capitalization totaling $692.58M.
For the stock Theravance Biopharma Inc. (TBPH), the current short interest is at 32.41%, compared to the previous level of 27.67%. This represents a significant short interest change of 84,490 shares, corresponding to a short interest percentage increase of 1.03%. The days needed to cover the short positions amount to 24.81. The approximate worth of the shares held short is $247.53 million.
With the symbol TRUP, the stock currently has a short interest of 32.34%, showing a decrease from the previous level of 36.72%. The short interest change is 1,409,572 shares, compared with a short interest percentage change of -11.55%. It would take approximately 10.5 days to cover all the short positions. The shares short value is estimated to be around $954.06 million. The company boasts an average daily volume of 1.34M shares, contributing to a market capitalization of $1.18B.
The stock UPST has a current short interest of 31.68%, lower than the previous short interest level of 36.23%. The short interest percentage has experienced decrease of -11.15% while there was a change of 2,883,100 shares in short interest. The ratio indicating the time required to cover short positions is 1.66. The calculated worth of the shorted shares amounts to around $2.3 billion. Trading activity averages at 12.29M shares per day, while the company's market capitalization stands at $2.51B.
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Biotech Stocks to Watch
According to our ST Score evaluation, ARCA biopharma Inc. (ABIO) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 55.0. The stock's performance, growth, financial strength, and stock sentiment are strong. Additionally, it is neutral in terms of value, profitability, and forecast.
Our ST Score also classifies Genmab A/S (GMAB) as a high-quality Biotech stock today, presenting an AI Score of 61.0. The stock has strong fundamentals in terms of profitability, performance, growth, financial strength, and stock sentiment. However, it has weak value. The Piotroski Score, and forecast are neutral.
Another stock in the category, Molecular Partners AG (MOLN) has the ST Score of 61.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, performance, financial strength, and Piotroski Score but weak in stock sentiment. Profitability, growth, and forecast suggest a neutral outlook.
BioNTech SE (BNTX) stock has the ST Score of 60.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, growth, and financial strength, but its weaknesses are in its performance. However, it shows neutral outlook in stock sentiment, Piotroski Score, and forecast.
Merrimack Pharmaceuticals Inc. (MACK) currently has the ST Score of 53.0, which signifies a huge upward potential. The Biotech stock's strong points are its performance, financial strength, and stock sentiment, while its weak points are its value. The stock's profitability, growth, 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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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.