Dear Readers,

Stocks are edging up on Friday, with the Dow attempting to consolidate above the key 40,000-point level it briefly reached during the previous trading session.

The focus remains on rates and inflation, as investors analyze upcoming economic data and comments from Federal Reserve officials for any impact on rate expectations.

The direction of rate forecasts in the coming days and weeks will be crucial for stocks, as major indexes hover near record highs.

While it may not take much for the Dow to surpass the 40,000 milestone, it might not happen immediately. Similarly, in March 1999, the Dow hit the 10,000-point mark seven times intraday before closing above it later that month.

As of 12:11 PM ET, the Dow was up 35.9023 points, or 0.09%, at $39905.28. The Nasdaq Composite added 0.1895 points, or 0.001%, at $18558.154. The S&P 500 rose 0.98 points, or 0.0185%, at $5298.08. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Information Technology leading the way with a 0.71% decrease.

Top Movers: Under $10

Nuburu Inc (BURU) is up 129.74% today to trade at the current level of $0.32. This comes after the company announced that it has received a purchase order for its BlueScan solution from Blueacre Technology, a medical device manufacturer based in Dundalk, Ireland.

Akanda Corp (AKAN) zoomed 96.60% in today’s trade to $0.26 after announcing registered direct offering priced at-the-market under Nasdaq Rules.

In current trading, Safe & Green Holdings Corp (SGBX) stock is at $5.63 following the release of its Q1 2024 results.

Azitra Inc (AZTR) rose 4.69% in the early hours of today's trading to move at $0.20 after announcing preclinical data from the Company’s platform and pipeline.

In the current trading session, Scorpius Holdings Inc. (SCPX) jumped 13.25% to $0.11 over a previous close of $0.10. The company announced the closing of the public offering.

Ex-Dividends Stocks

Clipper Realty Inc (CLPR) is about to trade ex-dividend Monday, 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 $0.1 per share. It has fixed May 21 as the record date for the same and will pay the actual dividend on May 30. Last year, the company distributed a total of $0.29 to its shareholders. Based on the last year's worth of payments, CLPR has a trailing yield of 7.13% on the current stock price of $4.00.

Another stock that is shelling out dividends on Monday is Johnson & Johnson (JNJ), having a market capitalization of $370.75B. It will pay a dividend of $1.24 per share, the payment date of which is June 04. Currently, the stock is trading at a trailing dividend yield of 3.09%.

Shares of Prudential Financial Inc. (PRU) will be the talk of the stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $1.3 per share, and in the last 12 months, it paid a total of $5.05 per share. Last year's total dividend payments show that PRU has a trailing yield of 4.19% on the current share price of $120.60.

Tomorrow, Skyworks Solutions, Inc. (SWKS) is also set to go ex-dividend on Monday. The next dividend payment from SWKS will amount to $0.68 per share. May 21 has been designated as the record date for this dividend, with the actual payout scheduled for June 11. In the previous year, SWKS distributed a total of $2.66 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for SWKS stands at 2.84% based on the current stock price of $93.58.

Walgreens Boots Alliance Inc (WBA) will be paying out a dividend of $0.25 per share to shareholders holding their shares as of the close of the business hours on the record date of May 21. Over the past 12 months, WBA has paid out a total of $1.69 per share in dividends. Based on the total dividends paid out last year, WBA boasts an impressive trailing yield of 9.25% on the current share price of $18.27.

Crypto Market Highlights

• Binance Labs-backed Magic Square announced the launch of its new initial DEX offering (IDO) platform, built on a decentralized exchange to democratize retail access for Web3 investors with limited funds.

• Tigran Gambaryan, a Binance executive detained in Nigeria since February, has been denied bail by a Nigerian court in a money laundering trial, with the judge citing a flight risk.

• Binance's Financial Crimes Compliance (FCC) department has collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to resolve a $6.2 million digital asset fraud case.

• Pink Drainer, a notorious crypto-wallet draining kit, announced its retirement on Telegram after helping steal over $85 million in crypto assets.

• Hong Kong has launched a pilot program for the digital yuan, marking the first deployment of the People’s Bank of China's central bank digital currency (CBDC) outside mainland China.

• The Turkish ruling party submitted a draft crypto bill to the parliament on May 16, focusing on licensing and registration for crypto service providers in alignment with international standards.

Most Shorted Stocks

Upstart Holdings Inc (UPST) was one of the most shorted stocks as of the latest short interest figures, with 32.76% 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 4.2. This represents a change of -1750000 shares, which corresponds to a -6.73% decrease in short interest. The total value of the shares held short is estimated to be around $620.83 million. The average daily volume stands at 5.12M shares, and the market capitalization of the company is $2.25B.

The C3.ai Inc with the symbol AI currently has a short interest of 27.37%. The short interest has changed by 400000 shares. The days to cover ratio stands at 4.7. The estimated value of the shares held short is approximately $882.09 million. On an average day, 6.57M shares are traded, with the company's market capitalization totaling $3.22B.

For the stock Cassava Sciences Inc (SAVA), the current short interest is at 30.8%. This represents a significant short interest change of 1.02 million shares, corresponding to a short interest percentage increase of 7.95%. The days needed to cover the short positions amount to 16.17. The approximate worth of the shares held short is $22.46 million.

With the symbol ENVX, the stock currently has a short interest of 36.4%. The short interest change is 1.13 million shares, compared with a short interest percentage change of 2.69%. It would take approximately 8.34 days to cover all the short positions. The shares short value is estimated to be around $10.88 million. The company boasts an average daily volume of 5.44M shares, contributing to a market capitalization of $1.60B.

The stock IRBT has a current short interest of 30.65%. The short interest percentage has experienced an increase of +4.07% while there was a change of 330000 shares in short interest. The ratio indicating the time required to cover short positions is 3.9. Trading activity averages at 2.33M shares per day, while the company's market capitalization stands at $320.96M.

Energy Stocks to Watch

According to our ST Score evaluation, Scorpio Tankers Inc (STNG) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 65.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of performance, growth, stock sentiment, and forecast.

Our ST Score also classifies Mexco Energy Corp (MXC) as a high-quality Energy stock today, presenting a Score of 58.0. The stock has strong fundamentals in terms of profitability, financial strength, and Piotroski Score. The value, performance, growth, stock sentiment, and forecast are neutral.

Another stock in the category, Chord Energy Corp (CHRD) has the ST Score of 59.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, financial strength, and stock sentiment. Performance, growth, piotroski score, and forecast suggest a neutral outlook.

Noble Corp Plc (NE) stock has the ST Score of 57.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, growth, financial strength, and stock sentiment, but its weaknesses are in its value. However, it shows a neutral outlook in performance, Piotroski Score, and forecast.

International Seaways Inc (INSW) currently has the ST Score of 63.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, profitability, financial strength, and Piotroski Score, while its weak points are its growth. The stock's performance, stock sentiment, and forecast indicate a neutral outlook.