Dear Readers,

Stocks rose on Thursday as economic growth data exceeded expectations, with the U.S. 

GDP growing at 3.3% in Q4, surpassing the anticipated 2%. Despite interest rate hikes, the economy demonstrated resilience. Additionally, encouraging figures on inflation were reported, with the personal consumption expenditures price index rising 2.7% annually, down from 5.9% the previous year. Core PCE, excluding food and energy, increased by 3.2%, down from 5.1%.

Investors also scrutinized corporate earnings reports, leading to a 10% decline in Tesla's stock due to disappointing Q4 results and a caution about lower vehicle volume growth in 2024. Conversely, IBM shares surged 8% following better-than-expected adjusted earnings and revenue.

According to FactSet, over one-fifth of S&P 500 companies have reported financials this earnings season, and nearly 74% of them have exceeded Wall Street expectations.

As of 11:42 AM ET, the Dow was up 88.6289 points, or 0.2344%, at $37895.02. The Nasdaq Composite added 95.6523 points, or 0.5466%, at $17594.951. The S&P 500 rose 21.48 points, or 0.4412%, at $4890.03. Among the 11 major S&P 500 sectors, 9 showed negative movement, with Health Care leading the way with a -0.54% decrease.

Top Movers: Under $10

Processa Pharmaceuticals Inc (PCSA) is up 134.63% today to trade at the current level of $4.81. This comes after the company announced the successful completion of the safety tolerability evaluation in its Phase 1b trial of Next Generation Capecitabine.

Cyngn Inc (CYN) zoomed 35.05% in today’s trade to $0.25 after announcing a strategic shift to Nvidia AI computers that will revolutionize the technology powering its fleet of DriveMod autonomous industrial vehicles.

In current trading, LAVA Therapeutics NV (LVTX) stock is at $2.10 following news that it has entered into a clinical trial collaboration and supply agreement with Merck & Co., Inc., Rahway, NJ, USA to evaluate LAVA-1207 in combination with KEYTRUDA®.

C3is Inc (CISS) rose 26.85% in the early hours of today's trading to move at $0.17 after completing a public offering.

In the current trading session, Rail Vision Ltd (RVSN) jumped 34.38% to $7.27 over a previous close of $5.41 after receiving formal certifications for critical European Union (EU) railway standards for its Main Line system.

Ex-Dividends Stocks

Prospect Capital Corporation (PSEC) 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 $0.06 per share. It has fixed January 29 as the record date for the same and will pay the actual dividend on February 20. Last year, the company distributed a total of $0.72 to its shareholders. Based on the last year's worth of payments, PSEC has a trailing yield of 11.56% on the current stock price of $6.23.

Another stock that is shelling out dividends tomorrow is Simulations Plus Inc. (SLP), having a market capitalization of $779.83M. It will pay a dividend of $0.06 per share, the payment date of which is February 05. Currently, the stock is trading at a trailing dividend yield of 0.61%.

Shares of Enlink Midstream LLC (ENLC) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.13 per share, and in the last 12 months, it paid a total of $0.51 per share. Last year's total dividend payments show that ENLC has a trailing yield of 4.19% on the current share price of $12.07.

Dorchester Minerals, L.P. (DMLP) is also set to go ex-dividend tomorrow. The next dividend payment from DMLP will amount to $1.01 per share. January 29 has been designated as the record date for this dividend, with the actual payout scheduled for February 08. In the previous year, DMLP distributed a total of $3.40 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for DMLP stands at 10.16% based on the current stock price of $33.43.

NVE Corp (NVEC) will be paying out a dividend of $1 per share to shareholders holding their shares as of the close of the business hours on the record date of January 29. Over the past 12 months, NVEC has paid out a total of $4.00 per share in dividends. Based on the total dividends paid out last year, NVEC boasts an impressive trailing yield of 4.98% on the current share price of $80.31.

Crypto Market Highlights

Most Shorted Stocks

Fisker Inc (FSR) was one of the most shorted stocks as of latest short interest figures, with 30.26% 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 3.8. This represents a change of 11910000 shares, which corresponds to a +12.65% increase in short interest. The total value of the shares held short is estimated to be around $78.49 million. The average daily volume stands at 28.82M shares, and the market capitalization of the company is $260.29M.

For the stock Imperial Petroleum Inc (IMPP), the current short interest is at 70.60%. This represents a significant short interest change of 420000 shares, corresponding to a short interest percentage increase of +11.32%. The days needed to cover the short positions amount to 5.9. The approximate worth of the shares held short is $14.41 million.

With the symbol RILY, the stock currently has a short interest of 63.94%. The short interest change is -490000 shares, compared with a short interest percentage change of -4.43%. It would take approximately 7.8 days to cover all the short positions. The shares short value is estimated to be around $84.62 million. The company boasts an average daily volume of 1.42M shares, contributing to a market capitalization of $626.58M.

The stock CMND has a current short interest of 52.61%. The short interest percentage has experienced increase of +5,891.67% while there was a change of 848400 shares in short interest. The ratio indicating the time required to cover short positions is 0.4. The calculated worth of the shorted shares amounts to around $15.33 million. Trading activity averages at 2.06M shares per day, while the company's market capitalization stands at $2.46M.

Biotech Stocks to Watch

According to our ST Score evaluation, Spero Therapeutics Inc (SPRO) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 61.0. The stock's profitability, performance, growth, and stock sentiment are strong. However, its financial strength are weak. Additionally, it is neutral in terms of value, Piotroski Score, and forecast.

Our ST Score also classifies Jasper Therapeutics Inc (JSPR) as a high-quality Biotech stock today, presenting a Score of 60.0. The stock has strong fundamentals in terms of performance, financial strength, stock sentiment, and forecast. However, it has weak profitability, and Piotroski Score. The value, and growth are neutral.

Another stock in the category, Astria Therapeutics Inc (ATXS) has the ST Score of 58.0, which means that the stock carries the potential for higher returns. The stock is strong in performance, financial strength, and stock sentiment but weak in Piotroski Score. Value, profitability, growth, and forecast suggest a neutral outlook.

Landos Biopharma Inc (LABP) stock has the ST Score of 57.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its valuation, performance, and stock sentiment, but its weaknesses are in its Piotroski Score. However, it shows neutral outlook in profitability, growth, financial strength, and forecast.

Y-Mabs Therapeutics Inc (YMAB) currently has the ST Score of 57.0, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, performance, financial strength, and stock sentiment, while its weak points are its value, and growth. The stock's Piotroski Score, and forecast indicate a neutral outlook.