Dear Readers,

On Monday, the S&P 500 nudged upward as Wall Street commenced the second quarter on a positive note, carrying forward the momentum from a solid start to the year. Investors also pondered the latest U.S. inflation figures.

As of 12:10 PM ET, the Dow was down -270.5625 points, or -0.6797%, at $39536.81. The Nasdaq Composite lost -0.1602 points, or -0.0009%, at $18254.53. The S&P 500 declined -17.8003 points, or -0.3388%, at $5236.55. Among the 11 major S&P 500 sectors, 9 showed negative movement, with Real Estate leading the way with a 1.45% decrease.

Inflation data that strips out volatile food and energy costs, known as the core personal consumption expenditures price index, was disclosed on Good Friday when markets were closed. The data indicated a 2.8% rise in inflation for February, aligning with economists' projections. The Federal Reserve keeps a close watch on this index, which also showed a 0.3% increase from the previous month, according to the Commerce Department.

The Federal Reserve Chair, Jerome Powell, made comments on Friday suggesting that there is no immediate need for an interest rate cut despite robust economic growth and inflation figures surpassing targets.

Yields on Treasury securities increased after these data points and Powell's comments came to light. Specifically, the yield on the benchmark 10-year Treasury note climbed by 7 basis points, reaching 4.269%.

Top Movers: Under $10

CXApp Inc (CXAI) is up 136.49% today to trade at the current level of $5.79. This comes after the company announced a partnership with Google Cloud for the acceleration of deployment of CXAI Platform.

Sunshine Biopharma Inc (SBFM) zoomed 93.22% in today’s trade to $0.12 after reporting operating results for the fiscal year ended December 31, 2023.

In current trading, IM Cannabis Corp (IMCC) stock is at $0.69 following the April 1st implementation of the new Israeli cannabis regulation, facilitating access for many new patients.

Ondas Holdings Inc (ONDS) rose 24.72% in the early hours of today's trading to move at $1.21. The company announced the appointment of Joe Popolo to its Board of Directors. Mr. Popolo, recognized for his transformative leadership and strategic acumen, brings a distinguished track record of success to the Ondas team.

In the current trading session, Greenwave Technology Solutions Inc (GWAV) jumped 15.29% to $0.14 over a previous close of $0.12 after reporting that it has increased its shareholder's equity by approximately $14.87 million.

Ex-Dividends Stocks

Comcast Corp (CMCSA) 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 $0.31 per share. The company has fixed April 03 as the record date for the same and will pay the actual dividend on April 24. Last year, the company distributed a total of $1.16 to its shareholders. Based on the last year's worth of payments, CMCSA has a trailing yield of 2.76% on the current stock price of $41.96.

Another stock that is shelling out dividends tomorrow is CVB Financial Corp. (CVBF), having a market capitalization of $2.43B. It will pay a dividend of $0.2 per share, the payment date of which is April 17. Currently, the stock is trading at a trailing dividend yield of 4.59%.

Shares of Steelcase, Inc. (SCS) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.1 per share, and in the last 12 months, the company paid a total of $0.40 per share. Last year's total dividend payments show that SCS has a trailing yield of 3.03% on the current share price of $13.21.

Tomorrow, SolarWinds Corp (SWI) is also set to go ex-dividend tomorrow. The next dividend payment from SWI will amount to $1 per share. April 15 has been designated as the record date for this dividend, with the actual payout scheduled for April 03.

TTEC Holdings Inc (TTEC) will be paying out a dividend of $0.06 per share to shareholders holding their shares as of the close of the business hours on the record date of April 03. Over the past 12 months, TTEC has paid out a total of $0.52 per share in dividends. Based on the total dividends paid out last year, TTEC boasts an impressive trailing yield of 5.03% on the current share price of $10.34.

Crypto Market Highlights

• Tether achieves the highest security compliance with a successful SOC 2 audit by AICPA.

• Chinese government unveils a new blockchain platform led by Conflux Network.

• Vitalik Buterin unveils Ethereum protocol simplification and node resource load reduction plan, dubbed the Purge.

• Bitkub Capital Group Holdings, owner of Thailand’s top crypto exchange, seeks financial advisers for IPO listing.

• Tether acquires 8,888 Bitcoin valued at $618 million on March 31.

Most Shorted Stocks

XTI Aerospace Inc. (XTIA) was one of the most shorted stocks as of the latest short interest figures, with 2,290.28% 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 1.0. This represents a change of -280000 shares, which corresponds to a -1.67% decrease in short interest. The total value of the shares held short is estimated to be around $32.16 million. The average daily volume stands at 225.87K shares, and the market capitalization of the company is $3.78M.

The Biomea Fusion Inc with the symbol BMEA currently has a short interest of 40.61%. The short interest has changed by 720000 shares. The days to cover ratio stands at 11.5. The estimated value of the shares held short is approximately $167.89 million. On an average day, 969.01K shares are traded, with the company's market capitalization totaling $535.29M.

For the stock Novavax, Inc. (NVAX), the current short interest is at 34.39%. This represents a significant short interest change of -4610000 shares, corresponding to a short interest percentage decrease of -8.74%. The days needed to cover the short positions amount to 5.6. The approximate worth of the shares held short is $225.25 million.

With the symbol ABR, the stock currently has a short interest of 36.58. The short interest change is -560,000 shares, compared with a short interest percentage change of -0.8%. It would take approximately 14.3 days to cover all the short positions. The shares short value is estimated to be around $24.53 million. The company boasts an average daily volume of 4.84M shares, contributing to a market capitalization of $2.45B.

Upcoming IPOs

Zhibao Technology Inc. (ZBAO) is all set for its debut on the NASDAQ exchange on April 02. They are offering shares in the price range of $4.00 to $6.00. With a total of 1,200,000 shares available, the company aims to raise approximately $6.00M through this IPO.

Mobile-health Network Solutions (MNDR) will be entering the market with its IPO on April 03, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $5.00. They plan to offer 2,250,000 shares, targeting a deal size of $10.13M.

✨ If you like our content, be sure to check out: