Dear Readers,

In our midday update, the Dow Jones Industrial Average is pushing higher today, aiming for a sixth consecutive day of gains despite some setbacks in the tech sector.

As of 11:54 AM ET, the Dow was up 76.71 points, or 0.1973%, at $38960.98. The Nasdaq Composite lost -16.0566 points, or -0.0888%, at $18075.389. The S&P 500 declined -4.54 points, or -0.0875%, at $5183.17. Among the 11 major S&P 500 sectors, 7 showed positive movement, with Utilities leading the way with a 1.9% increase.

Analyst Mayfield observes that both the S&P 500 and the Dow exhibit signs of a healthy and necessary market correction, supported by robust fundamentals and ongoing economic resilience.

Despite today's fluctuations, there's a chance the Dow might end its five-day streak, the longest rally since last December. Meanwhile, the S&P 500 continues to rise, marking its fourth consecutive day of gains.

Top Movers: Under $10

Reborn Coffee Inc (REBN) is up 85.26% today to trade at the current level of $3.20. This comes after the company announced a significant expansion into the China market through a strategic Master License Agreement with IAID Co., Ltd.

Cricut Inc (CRCT) zoomed 33.25% in today’s trade to $7.37 after reporting Q1 2024 financial results.

In current trading, Tivic Health Systems Inc (TIVC) stock is at $1.17 following the announcement of the final results of their pilot research study with The Feinstein Institutes for Medical Research at Northwell Health.

Safe and Green Development Corp (SGD) rose 76.74% in the early hours of today's trading to move at $0.69. The company reported results for the year ended December 31, 2023.

In the current trading session, Cel-Sci Corp. (CVM) jumped 11.46% to $1.86 over a previous close of $1.67 after announcing a significantly positive outcome from its recent meeting with the FDA regarding the path to approval for its first-line investigational cancer immunotherapy Multikine*.

Ex-Dividends Stocks

American Electric Power Company Inc. (AEP) 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 $0.88 per share. It has fixed May 10 as the record date for the same and will pay the actual dividend on June 10. Last year, the company distributed a total of $3.42 to its shareholders. Based on the last year's worth of payments, AEP has a trailing yield of 3.79% on the current stock price of $90.13.

Another stock that is shelling out dividends tomorrow is Coca-Cola Europacific Partners Plc (CCEP), having a market capitalization of $33.50B. It will pay a dividend of $0.79 per share, the payment date of which is May 23. Currently, the stock is trading at a trailing dividend yield of 2.75%.

Shares of J.B. Hunt Transport Services, Inc. (JBHT) will be the talk of the stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.43 per share, and in the last 12 months, it paid a total of $1.69 per share. Last year's total dividend payments show that JBHT has a trailing yield of 1.01% on the current share price of $167.76.

Pfizer Inc. (PFE) is also set to go ex-dividend tomorrow. The next dividend payment from PFE will amount to $0.42 per share. May 10 has been designated as the record date for this dividend, with the actual payout scheduled for June 14. In the previous year, PFE distributed a total of $1.65 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PFE stands at 5.86% based on the current stock price of $28.17.

RPC, Inc. (RES) will be paying out a dividend of $0.04 per share to shareholders holding their shares as of the close of the business hours on the record date of May 10. Over the past 12 months, RES has paid out a total of $0.16 per share in dividends. Based on the total dividends paid out last year, RES boasts an impressive trailing yield of 2.36% on the current share price of $6.79.

Crypto Market Highlights

• Tether invests more in crypto adoption in Eastern Europe through CityPay.io.

• Chainalysis moves regional headquarters to Dubai, signaling closer ties with local government.

• Mastercard collaborates with major US banks to test blockchain technology for settlements.

• Nigerian crypto stakeholders demand that Binance to reveal the identity of the alleged briber.

• Ripple and SEC make progress in legal battle; SEC files final reply in remedies stage.

• Monero P2P trading platform shuts down abruptly amid crypto privacy crackdowns.

Most Shorted Stocks

MGP Ingredients, Inc. (MGPI) was one of the most shorted stocks as of latest short interest figures, with 28.75% 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 17.9. This represents a change of 60000 shares, which corresponds to a +1.53% increase in short interest. The total value of the shares held short is estimated to be around $318.95 million. The average daily volume stands at 217.66K shares, and the market capitalization of the company is $1.77B.

The Duckhorn Portfolio Inc with the symbol NAPA currently has a short interest of 10.15%. The short interest has changed by 320000 shares. The days to cover ratio stands at 4.6. The estimated value of the shares held short is approximately $40.67 million. On an average day, 1.14M shares are traded, with the company's market capitalization totaling $931.94M.

For the stock Medifast Inc (MED), the current short interest is at 28.21%. This represents a significant short interest change of 330000 shares, corresponding to a short interest percentage increase of +12.41%. The days needed to cover the short positions amount to 8.0. The approximate worth of the shares held short is $74.48 million.

With the symbol CMG, the stock currently has a short interest of 3.19%. The short interest change is 119000 shares, compared with a short interest percentage change of +15.74%. It would take approximately 3.6 days to cover all the short positions. The shares short value is estimated to be around $9.58 billion. The company boasts an average daily volume of 241.70K shares, contributing to a market capitalization of $87.98B.

The stock AVXL has a current short interest of 26.81%. The short interest percentage has experienced a decrease of -0.50% while there was a change of -110000 shares in short interest. The ratio indicating the time required to cover short positions is 17.1. The calculated worth of the shorted shares amounts to around $3.3 million. Trading activity averages at 1.27M shares per day, while the company's market capitalization stands at $309.58M.

AI Stocks to Watch

According to our ST Score evaluation, Crowdstrike Holdings Inc (CRWD) emerges as a high-quality stock in the AI industry, attaining an impressive score of 56.0. The stock's profitability, growth, and Piotroski Score are strong. However, its value are weak. Additionally, it is neutral in terms of performance, financial strength, stock sentiment, and forecast.

Our ST Score also classifies Sprinklr Inc (CXM) as a high-quality AI stock today, presenting a Score of 55.0. The stock has strong fundamentals in terms of profitability, and financial strength. The value, performance, growth, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Accenture plc (ACN) has the ST Score of 54.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, financial strength, and Piotroski Score but weak in value, and growth. Performance, stock sentiment, and forecast suggest a neutral outlook.

Taiwan Semiconductor Manufacturing ADR (TSM) stock has the ST Score of 56.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability and growth, but its weaknesses are in its value, and financial strength. However, it shows a neutral outlook in performance, stock sentiment, Piotroski Score, and forecast.

NICE Ltd ADR (NICE) currently has the ST Score of 56.0, which signifies a huge upward potential. The AI stock's strong points are its profitability, stock sentiment, and Piotroski Score, while its weak points are its growth. The stock's value, performance, financial strength, and forecast indicate a neutral outlook.