Dear Readers,

On Tuesday, the U.S. stock market experienced a rise as enthusiasm grew during the corporate earnings season, with market participants aiming to capitalize on the solid performance seen in the previous session.

As 11:57 AM ET, the Dow was up 183.7578 points, or 0.4805%, at $38423.74. The Nasdaq Composite added 234.73 points, or 1.3638%, at $17445.6132. The S&P 500 rose 49.78 points, or 0.9935%, at $5060.37. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Utilities leading the way with a 1.38% increase.

Following the close of trading, Tesla is expected to release its earnings, with Meta Platforms revealing its figures on Wednesday afternoon. The week's focus on tech earnings will continue with Alphabet, the parent company of Google, and Microsoft announcing their results on Thursday.

As of Tuesday morning, about 20% of the S&P 500 companies had shared their earnings reports, with FactSet revealing that 76% of these companies exceeded the expectations of analysts.

Top Movers: Under $10

NewGenIvf Group Ltd (NIVF) is up 104.30% today to trade at the current level of $2.62. This comes after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.

Cyngn Inc (CYN) zoomed 57.02% in today’s trade to $0.19 after announcing that it has been chosen to supply its DriveMod Tuggers for industrial automation to John Deere's operation in Dubuque, Iowa.

In current trading, Oportun Financial Corp (OPRT) stock is at $3.14 following the release of preliminary Q1 2024 financial information.

VolitionRX Ltd (VNRX) rose 33.19% in the early hours of today's trading to move at $0.80. The company announced that its Nu.Q® Vet Cancer Test is now available in-clinic to veterinarians across the U.S. and Europe through Antech, a leading veterinary diagnostics company.

In the current trading session, Palisade Bio Inc (PALI) jumped 26.57% to $6.24 over a previous close of $4.93 after announcing that it has entered into a transformative strategic collaboration with Strand Life Sciences.

Ex-Dividends Stocks

Fastenal Co. (FAST) 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 $0.39 per share. It has fixed April 25 as the record date for the same and will pay the actual dividend on May 23. Last year, the company distributed a total of $1.43 to its shareholders. Based on the last year's worth of payments, FAST has a trailing yield of 2.11% on the current stock price of $67.83.

Another stock that is shelling out dividends tomorrow is Riley Exploration Permian Inc. (REPX), having a market capitalization of $601.19M. It will pay a dividend of $0.36 per share, the payment date of which is May 09. Currently, the stock is trading at a trailing dividend yield of 4.99%.

Shares of ING Groep N.V. ADR (ING) will be the talk of the stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.7 per share, and in the last 12 months, it paid a total of $0.81 per share. Last year's total dividend payments show that ING has a trailing yield of 4.84% on the current share price of $16.67.

Kaiser Aluminum Corp (KALU) is also set to go ex-dividend tomorrow. The next dividend payment from KALU will amount to $0.77 per share. April 25 has been designated as the record date for this dividend, with the actual payout scheduled for May 15. In the previous year, KALU distributed a total of $3.08 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for KALU stands at 3.47% based on the current stock price of $88.75.

Aptargroup Inc. (ATR) will be paying out a dividend of $0.41 per share to shareholders holding their shares as of the close of the business hours on the record date of April 25. Over the past 12 months, ATR has paid out a total of $1.61 per share in dividends. Based on the total dividends paid out last year, ATR boasts an impressive trailing yield of 1.15% on the current share price of $140.43.

Crypto Market Highlights

• Tether announces freeze on addresses tied to sanctioned entities, responding to reports of Venezuelan oil company's use of USDT to bypass sanctions.

• El Salvador's state Bitcoin wallet, Chivo, faces ongoing security breaches as hackers leak more sensitive information, including source code.

• Blockchain Association (BA) and Crypto Freedom Alliance of Texas (CFAT) file lawsuit against SEC in the Northern District of Texas, as per the statement.

• Crypto.com postpones South Korea launch due to regulatory concerns over money laundering anomalies in platform data.

• Finnish project converts energy from Bitcoin mining into heat for homes during winter, led by Hashlabs Mining.

• Ripple challenges SEC's request for a $2 billion fine, arguing penalty should not exceed $10 million.

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 76.63% 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 5.4. This represents a change of -3290000 shares, which corresponds to a -7.73% decrease in short interest. The total value of the shares held short is estimated to be around $86.74 million. The average daily volume stands at 6.65M shares, and the market capitalization of the company is $388.69M.

The Arbor Realty Trust Inc. with the symbol ABR currently has a short interest of 38.49%. The short interest has changed by 3970000 shares. The days to cover ratio stands at 15.6. The estimated value of the shares held short is approximately $949.42 million. On an average day, 4.70M shares are traded, with the company's market capitalization totaling $2.45B.

For the stock ImmunityBio Inc (IBRX), the current short interest is at 39.0%. This represents a significant short interest change of 1.51 million shares, corresponding to a short interest percentage increase of 2.84%. The days needed to cover the short positions amount to 11.81. The approximate worth of the shares held short is $7.58 million.

With the symbol KAVL, the stock currently has a short interest of 35.7%. The short interest change is 302,601 shares. It would take approximately 1 day to cover all the short positions. The shares short value is estimated to be around $1.09 million. The company boasts an average daily volume of 2.44M shares, contributing to a market capitalization of $10.02M.

The stock NOVA has a current short interest of 37.10%. The short interest percentage has experienced an increase of +8.77% while there was a change of 3170000 shares in short interest. The ratio indicating the time required to cover short positions is 4.1. Trading activity averages at 10.09M shares per day, while the company's market capitalization stands at $504.01M.

EV Stocks to Watch

According to our ST Score evaluation, Niu Technologies ADR (NIU) emerges as a high-quality stock in the EV industry, attaining an impressive score of 52.0. The stock's profitability and valuation are strong. However, its Piotroski Score is weak. Additionally, it is neutral in terms of value, performance, growth, financial strength, stock sentiment, and forecast.

Our ST Score also classifies FREYR Battery Inc. (FREY) as a high-quality EV stock today, presenting a Score of 52.0. The stock has strong fundamentals in terms of valuation, and financial strength. However, it has weak growth, and Piotroski Score. The profitability, performance, stock sentiment, and forecast are neutral.

Another stock in the category, Skyworks Solutions, Inc. (SWKS) has the ST Score of 51.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability but weak in growth. Value, performance, financial strength, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

GreenPower Motor Company Inc (GP) stock has the ST Score of 51.0 which implies that the EV company has a high probability of beating the market. The stock's weaknesses are in its value, profitability, growth, and financial strength. However, it shows a neutral outlook in performance, stock sentiment, Piotroski Score, and forecast.

Fluence Energy Inc (FLNC) currently has the ST Score of 52.0, which signifies a huge upward potential. The EV stock's strong point is its growth, while its weak point is its profitability. The stock's value, performance, financial strength, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.

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