Dear Readers,

Stocks climbed on Thursday as investors sought to rebound from the Dow's recent consecutive declines.

As of 12:56 PM ET, the Dow was up 192.22 points, or 0.4913%, at $39319.37. The Nasdaq Composite added 198.5352 points, or 1.0932%, at $18358.725. The S&P 500 rose 42.5298 points, or 0.8161%, at $5254.02. Among the 11 major S&P 500 sectors, 11 showed positive movement, with Consumer Discretionary leading the way with a 1.21% increase.

Federal Reserve Chairman Jerome Powell reiterated on Wednesday that while there's potential for interest rate cuts this year, policymakers require further evidence of inflation aligning with the central bank's 2% target before adjusting rates.

Consequently, Wall Street revised its projections for rate decreases, with Fed funds futures trading data indicating a 58.5% chance of a cut at the Federal Reserve's June meeting, down from around 70% the previous week, according to the CME FedWatch Tool.

Top Movers: Under $10

Allurion Technologies Inc (ALUR) is up 97.40% today to trade at the current level of $3.41. This comes after the company announced the commercial availability of its comprehensive Virtual Care Suite (VCS) in the United States.

TC BioPharm (Holdings) plc ADR (TCBP) zoomed 62.36% in today’s trade to $2.11 after announcing the execution of a non-binding letter of intent as part of its M&A strategy aimed at expanding its therapeutic platform and leveraging NK cells in treating both solid tumors and other indications.

In current trading, Candel Therapeutics Inc (CADL) stock is at $2.59 following the declaration of positive interim data from randomized phase 2 clinical trial of CAN-2409 in Non-Metastatic Pancreatic Cancer.

Gorilla Technology Group Inc (GRRR) rose 23.55% in the early hours of today's trading to move at $0.90 after reporting record 2023 financial results.

In the current trading session, Reliance Global Group Inc (RELI) jumped 32.97% to $0.49 over a previous close of $0.37 after reporting financial results for the year ended December 31, 2023.

Ex-Dividends Stocks

Quest Diagnostics, Inc. (DGX) 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 $0.75 per share. It has fixed April 08 as the record date for the same and will pay the actual dividend on April 22. Last year, the company distributed a total of $2.84 to its shareholders. Based on the last year's worth of payments, DGX has a trailing yield of 2.13% on the current stock price of $133.60.

Another stock that is shelling out dividends tomorrow is Creative Media & Community Trust (CMCT), having a market capitalization of $94.35M. It will pay a dividend of $0.09 per share, the payment date of which is April 22. Currently, the stock is trading at a trailing dividend yield of 6.16%.

Shares of McCormick & Co., Inc. (MKC) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.42 per share, and in the last 12 months, it paid a total of $1.59 per share. Last year's total dividend payments show that MKC has a trailing yield of 2.07% on the current share price of $76.76.

Oge Energy Corp. (OGE) is also set to go ex-dividend tomorrow. The next dividend payment from OGE will amount to $0.42 per share. April 08 has been designated as the record date for this dividend, with the actual payout scheduled for April 26. In the previous year, OGE distributed a total of $1.66 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for OGE stands at 4.86% based on the current stock price of $34.24.

Universal Corp. (UVV) will be paying out a dividend of $0.8 per share to shareholders holding their shares as of the close of the business hours on the record date of April 08. Over the past 12 months, UVV has paid out a total of $3.19 per share in dividends. Based on the total dividends paid out last year, UVV boasts an impressive trailing yield of 6.30% on the current share price of $50.64.

Crypto Market Highlights

• Tigran Gambaryan's tax evasion case, linked to Binance, postponed in Nigeria until April 19.

• PayPal expands international money transfer feature for U.S. users excluding Hawaii, utilizing PYUSD.

• Ripple reveals plans for a USD-backed stablecoin to challenge Circle and Tether dominance.

• Coinbase expands global footprint with restricted dealer licenses in Canada amidst U.S. regulatory pressure.

• GSR Markets achieves full MPI license from MAS, enhancing crypto trading services in Singapore.

Most Shorted Stocks

ProKidney Corp (PROK) was one of the most shorted stocks as of the latest short interest figures, with 29.98% 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 24.6. This represents a change of 310000 shares, which corresponds to a +2.17% increase in short interest. The total value of the shares held short is estimated to be around $22.5 million. The average daily volume stands at 523.59K shares, and the market capitalization of the company is $95.20M.

The Lemonade Inc with the symbol LMND currently has a short interest of 31.63%. The short interest has changed by -350000 shares. The days to cover ratio stands at 8.3. The estimated value of the shares held short is approximately $274.17 million. On an average day, 1.88M shares are traded, with the company's market capitalization totaling $1.21B.

For the stock Opko Health Inc (OPK), the current short interest is at 27.6%. This represents a significant short interest change of 3,094,021 shares, corresponding to a short interest percentage increase of 3.12%. The days needed to cover the short positions amount to 11.39. The approximate worth of the shares held short is $4.27 million.

The stock SAVA has a current short interest of 30.54%. The short interest percentage has experienced an increase of +5.65% while there was a change of 640000 shares in short interest. The ratio indicating the time required to cover short positions is 15.7. Trading activity averages at 668.02K shares per day, while the company's market capitalization stands at $894.00M.

Biotech Stocks to Watch

According to our ST Score evaluation, BioNTech SE ADR (BNTX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 63.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Kiniksa Pharmaceuticals Ltd (KNSA) as a high-quality Biotech stock today, presenting a Score of 48.0. The stock has strong fundamentals in terms of profitability, and stock sentiment. However, it has weak value, growth, and Piotroski Score. The performance, financial strength, and forecast are neutral.

Another stock in the category, Halozyme Therapeutics Inc. (HALO) has the ST Score of 60.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, growth, stock sentiment, and Piotroski Score but weak in financial strength. Value, performance, and forecast suggest a neutral outlook.

Trevi Therapeutics Inc (TRVI) stock has the ST Score of 53.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its financial strength, and stock sentiment, but its weaknesses are in its growth, and Piotroski Score. However, it shows a neutral outlook in value, profitability, performance, and forecast.

Larimar Therapeutics Inc (LRMR) currently has the ST Score of 45.0, which signifies a huge upward potential. The Biotech stock's strong points are its financial strength, and stock sentiment, while its weak points are its value, growth, Piotroski Score, and forecast. The stock's profitability and performance indicate a neutral outlook.

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