Dear Readers,

Stocks experienced a rise on Tuesday, partly due to a decrease in Treasury yields, with traders seeking further insights into the Federal Reserve's potential rate-cutting plans.

As of 11:55 AM ET, the Dow was up 76.832 points, or 0.1978%, at $38929.1. The Nasdaq Composite added 42.45 points, or 0.23%, at $18136.0176. The S&P 500 rose 15.5298 points, or 0.2998%, at $5196.27. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Utilities leading the way with a 1.54% increase.

Following a successful session, Wall Street investors continued the positive momentum from late last week, buoyed by recent U.S. jobs data suggesting a manageable economy and Federal Reserve Chairman Jerome Powell's dismissal of an immediate interest rate hike.

However, conflicting economic indicators, like the uptick in the employment cost index, leave uncertainties regarding the inflation path, as noted by Rob Haworth, senior investment strategist at U.S. Bank's wealth management division.

Top Movers: Under $10

Golden Sun Health Technology Group Ltd (GSUN) is up 62.17% today to trade at the current level of $4.70. This comes after the company announced that it received a written notification from the Nasdaq Stock Market LLC on May 3, 2024, informing the Company that it has regained compliance with the Nasdaq's minimum bid price requirement.

Nuwellis Inc (NUWE) zoomed 51.17% in today’s trade to $0.26 after announcing first quarter 2024 financial results.

In current trading, Gaucho Group Holdings Inc (VINO) stock is at $6.64. The company announced its enthusiastic support for the recent endorsements of Argentina's economic environment by prominent global figures, including Tesla CEO Elon Musk and Argentine President Javier Milei.

Global Self Storage Inc (SELF) rose 32.85% in the early hours of today's trading to move at $5.54 after Etude Storage Partners LLC has made a proposal to acquire Global Self Storage, Inc. (Nasdaq: SELF) for $6.15 per share in cash, representing a total deal value of almost $70 million, sources familiar with the matter told PE Edge.

In the current trading session, reAlpha Tech Corp. (AIRE) jumped 23.75% to $1.06 over a previous close of $0.86 after completing its acquisition of Naamche, Inc. and Naamche, Inc. Pvt. Ltd.

Ex-Dividends Stocks

KB Home (KBH) 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 $0.25 per share. It has fixed May 09 as the record date for the same and will pay the actual dividend on May 23. Last year, the company distributed a total of $0.60 to its shareholders. Based on the last year's worth of payments, KBH has a trailing yield of 0.86% on the current stock price of $70.09.

Another stock that is shelling out dividends tomorrow is MGIC Investment Corp (MTG), having a market capitalization of $5.70B. It will pay a dividend of $0.12 per share, the payment date of which is May 21. Currently, the stock is trading at a trailing dividend yield of 2.08%.

Shares of Olin Corp. (OLN) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.2 per share, and in the last 12 months, it paid a total of $0.80 per share. Last year's total dividend payments show that OLN has a trailing yield of 1.44% on the current share price of $55.57.

Levi Strauss & Co. (LEVI) is also set to go ex-dividend tomorrow. The next dividend payment from LEVI will amount to $0.12 per share. May 09 has been designated as the record date for this dividend, with the actual payout scheduled for May 23. In the previous year, LEVI distributed a total of $0.36 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for LEVI stands at 1.63% based on the current stock price of $22.14.

Matson Inc (MATX) will be paying out a dividend of $0.32 per share to shareholders holding their shares as of the close of the business hours on the record date of May 09. Over the past 12 months, MATX has paid out a total of $1.27 per share in dividends. Based on the total dividends paid out last year, MATX boasts an impressive trailing yield of 1.12% on the current share price of $113.02.

Crypto Market Highlights

• QANplatform launches the world's first quantum-resistant blockchain testnet compatible with Ethereum Virtual Machine (EVM), facilitating quantum-resistant smart contract development.

• Hong Kong Monetary Authority (HKMA) collaborates with industry to explore asset tokenization, forming a special community for tokenization standards development.

• QCP Capital receives initial regulatory approval to operate in Abu Dhabi, expanding presence in the region.

• Bancolombia, Colombia's largest bank, enters the crypto market with the launch of Wenia crypto exchange, aiming to compete with Binance and Bitso.

• Australia's tax office targets up to 1.2 million cryptocurrency exchange users for potential crackdown on crypto tax obligations, and seeks personal data and transaction details.

• Nigeria government prepares new regulations to ban peer-to-peer (P2P) cryptocurrency exchange with the national currency, the Nigerian naira.

• Revolut introduces a specialized crypto trading platform for retail customers in the United Kingdom, marking a significant move into the cryptocurrency sphere.

Most Shorted Stocks

Irobot Corp (IRBT) was one of the most shorted stocks as of latest short interest figures, with 29.46% 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 3.0. This represents a change of -120000 shares, which corresponds to a -1.46% decrease in short interest. The total value of the shares held short is estimated to be around $75.18 million. The average daily volume stands at 2.13M shares, and the market capitalization of the company is $263.64M.

The EVgo Inc with the symbol EVGO currently has a short interest of 29.0%. The short interest has changed by 2.53 million shares. The days to cover ratio stands at 12. The estimated value of the shares held short is approximately $4.87 million. On an average day, 2.85M shares are traded, with the company's market capitalization totaling $202.45M.

For the stock ChargePoint Holdings Inc (CHPT), the current short interest is at 27.2%. This represents a significant short interest change of -8.22 million shares, corresponding to a short interest percentage decrease of -7.11%. The days needed to cover the short positions amount to 9. The approximate worth of the shares held short is $14.69 million.

With the symbol ALT, the stock currently has a short interest of 28.73%. The short interest change is 2640000 shares, compared with a short interest percentage change of +14.89%. It would take approximately 4.3 days to cover all the short positions. The company boasts an average daily volume of 4.59M shares, contributing to a market capitalization of $511.25M.

The stock VERV has a current short interest of 28.64%. The short interest percentage has experienced an increase of +2.15% while there was a change of 330000 shares in short interest. The ratio indicating the time required to cover short positions is 12.3. The calculated worth of the shorted shares amounts to around $126.29 million. Trading activity averages at 1.32M shares per day, while the company's market capitalization stands at $487.01M.

EV Stocks to Watch

According to our ST Score evaluation, Li Auto Inc ADR (LI) emerges as a high-quality stock in the EV industry, attaining an impressive score of 58.0. The stock's profitability, and financial strength are strong. However, its value is weak. Additionally, it is neutral in terms of performance, growth, stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Aptiv PLC (APTV) as a high-quality EV stock today, presenting a Score of 56.0. The stock has strong fundamentals in terms of profitability, and growth. The value, performance, financial strength, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, ST Microelectronics (STM) has the ST Score of 56.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, and stock sentiment. Performance, growth, financial strength, piotroski score, and forecast suggest a neutral outlook.

BorgWarner Inc (BWA) stock has the ST Score of 55.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, and Piotroski Score, but its weaknesses are in its growth. However, it shows a neutral outlook in value, performance, financial strength, stock sentiment, and forecast.

Niu Technologies ADR (NIU) currently has the ST Score of 51.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, and growth, while its weak points are its Piotroski Score. The stock's value, performance, financial strength, stock sentiment, and forecast indicate a neutral outlook.