Dear Readers,

Stocks were higher Monday due to gains in tech, putting the S&P 500 on pace for another record day.

Artificial intelligence names are due to steal the spotlight this upcoming week. Investors will be keeping a close eye on Nvidia's fiscal first-quarter results due Wednesday afternoon to gauge the strength of the AI-led rally.

Stocks are coming off a strong week, with the S&P 500 posting a four-week winning streak as it notched record highs. The Dow also rose for a fifth straight week.

As of 12:39 PM ET, the Dow was down -9.81 points, or -0.0245%, at $39993.79. The Nasdaq Composite added 115.35 points, or 0.622%, at $18661.5767. The S&P 500 rose 16.54 points, or 0.3119%, at $5319.81. Among the 11 major S&P 500 sectors, 10 showed positive movement, with Information Technology leading the way with a 1.02% increase.

Top Movers: Under $10

MultiMetaVerse Holdings Limited (MMV) is up 175.90% today to trade at the current level of $1.63. This comes after the company signed a term sheet to acquire Innovative E-Commerce Service provider Bowong AI.

NKGen Biotech Inc (NKGN) zoomed 51.34% in today’s trade to $1.70 after announcing that its Safety Review Committee has cleared the Company’s cryopreserved autologous, expanded and enhanced SNK01 to progress into Phase 2 clinical development.

In current trading, Mira Pharmaceuticals Inc (MIRA) stock is at $0.86 following news that it has advanced new preclinical studies using Ketamir-2, its differentiated oral ketamine analog, towards clinical development for the treatment of severe post-traumatic stress disorder (PTSD) and other leading mental health disorders and neuropathic pain indications.

Rekor Systems Inc (REKR) rose 25.76% in the early hours of today's trading to move at $1.66 after announcing a partnership with MS2, the national leader in Transportation Data Management Systems (TDMS).

In the current trading session, Scorpius Holdings Inc. (SCPX) jumped 34.49% to $0.14 over a previous close of $0.10. The company announced a major expansion in San Antonio with a New State-of-the-Art Storage and Testing Facility.

Ex-Dividends Stocks

Amcor Plc (AMCR) 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 $0.12 per share. It has fixed May 22 as the record date for the same and will pay the actual dividend on June 11. Last year, the company distributed a total of $0.49 to its shareholders. Based on the last year's worth of payments, AMCR has a trailing yield of 4.89% on the current stock price of $10.12.

Another stock that is shelling out dividends tomorrow is Louisiana-Pacific Corp. (LPX), having a market capitalization of $6.53B. It will pay a dividend of $0.26 per share, the payment date of which is June 05. Currently, the stock is trading at a trailing dividend yield of 0.81%.

Shares of Teradyne, Inc. (TER) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.12 per share, and in the last 12 months, it paid a total of $0.45 per share. Last year's total dividend payments show that TER has a trailing yield of 0.32% on the current share price of $138.60.

Aercap Holdings N.V. (AER) is also set to go ex-dividend tomorrow. The next dividend payment from AER will amount to $0.25 per share. May 22 has been designated as the record date for this dividend, with the actual payout scheduled for June 13.

Aflac Inc. (AFL) will be paying out a dividend of $0.5 per share to shareholders holding their shares as of the close of the business hours on the record date of May 22. Over the past 12 months, AFL has paid out a total of $1.34 per share in dividends. Based on the total dividends paid out last year, AFL boasts an impressive trailing yield of 1.52% on the current share price of $88.34.

Crypto Market Highlights

• Letitia James, New York's Attorney General, announced a $2 billion settlement with cryptocurrency firm Genesis to compensate defrauded investors.

• Bitcoin bridge XLink announced a partnership with Kaamel Technology on May 20 to investigate a recent security breach.

• Michael Sonnenshein is stepping down as CEO of Grayscale Investments LLC and will be replaced by former Goldman Sachs executive Peter Mintzberg on Aug. 15, according to Barry Silbert, CEO of Digital Currency Group.

• Binance has urged small and medium-sized crypto projects to address the trend of low float and high fully diluted valuations (FDV) in the industry.

• Japanese manga and anime series Captain Tsubasa launched its NFT soccer game on the Oasys blockchain, which focuses on Web3 gaming.

• Kraken stated it has “no plans” to delist Tether (USDT) in Europe, countering a recent report about a potential review for legal compliance.

Most Shorted Stocks

ARCA biopharma Inc (ABIO) was one of the most shorted stocks as of latest short interest figures, with 39.6% 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 16.66. This represents a change of -1,558,882 shares, which corresponds to a -27.53% decrease in short interest. The total value of the shares held short is estimated to be around $5.04 million. The average daily volume stands at 1.45M shares, and the market capitalization of the company is $46.94M.

The Verve Therapeutics Inc with the symbol VERV currently has a short interest of 23.6%. The short interest has changed by 845,795 shares. The days to cover ratio stands at 16.66. The estimated value of the shares held short is approximately $5.06 million. On an average day, 1.38M shares are traded, with the company's market capitalization totaling $471.30M.

For the stock Allogene Therapeutics Inc (ALLO), the current short interest is at 30.7%. This represents a significant short interest change of 2.51 million shares, corresponding to a short interest percentage increase of 7.99%. The days needed to cover the short positions amount to 16.48. The approximate worth of the shares held short is $6.75 million.

With the symbol SBFM, the stock currently has a short interest of 29.8%. The short interest change is -6,695,522 shares, compared with a short interest percentage change of -95.92%. It would take approximately 1 day to cover all the short positions. The shares short value is estimated to be around $6.65 million. The company boasts an average daily volume of 2.82M shares, contributing to a market capitalization of $0.95M.

The stock IGMS has a current short interest of 42.2%. The short interest percentage has experienced an increase of 18.87% while there was a change of 990,147 shares in short interest. The ratio indicating the time required to cover short positions is 16.37. The calculated worth of the shorted shares amounts to around $9.19 million. Trading activity averages at 260.34K shares per day, while the company's market capitalization stands at $506.98M.

Upcoming IPOs

Kindly MD, Inc. (KDLY) is all set for its debut on the NASDAQ exchange on May 21. They are offering shares at a fixed price of $5.50. With a total of 1,272,727 shares available, the company aims to raise approximately $7.00M through this IPO.

Bowhead Specialty Holdings Inc. (BOW) will be entering the market with its IPO on May 23, on the NYSE exchange. They are offering shares in the price range of $14.00 to $16.00. They plan to offer 6,666,667 shares, targeting a deal size of $100.00M.

Fly-E Group, Inc. (FLYE) is also scheduled to make its debut on the NASDAQ exchange on June 5. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 3,000,000 shares, aiming for a deal size of $13.50M.