Investment Insights: Upcoming IPOs & $10 Opportunities

The S&P 500 and Nasdaq Composite retreated from record highs on Monday, with tech stocks facing headwinds and market participants shifting their focus to crucial inflation data expected later this week.

At 11:50 AM ET, the Dow was down -26.22 points, or -0.0587%, at $44616.31. The Nasdaq Composite lost -152.97 points, or -0.7075%, at $21469.286. The S&P 500 declined -24.38 points, or -0.4003%, at $6065.9. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Utilities leading the way with a 3.41% decrease.

Adding to the risk-off sentiment, Bitcoin pulled back after its historic rally last week, where it surpassed $100,000 for the first time on Wednesday evening.

As the Federal Reserve enters its pre-meeting blackout period, investors are keenly awaiting signals from upcoming economic reports. The November Consumer Price Index, set to be released on Wednesday, is anticipated to reveal a slight increase in pricing pressures. Economists project a 0.3% rise month-over-month and a 2.7% increase year-over-year, slightly higher than October’s 0.2% and 2.6% readings.

Top Movers: Under $10

LeddarTech Holdings Inc (LDTC) is up 325.98% today to trade at the current level of $1.32. This comes after LeddarTech and Texas Instruments entered into a strategic collaboration agreement and a software license agreement to enable a comprehensive, integrated platform solution for advanced driver assistance systems and autonomous driving markets.

Sonnet BioTherapeutics Holdings Inc (SONN) zoomed 47.38% in today’s trade to $3.10 after announcing topline safety data following successful completion of SON-1010 Monotherapy Dose Escalation in phase 1 SB101 trial.

In current trading, Therealreal Inc (REAL) stock is at $9.07 following an upgrade by Wells Fargo to an "overweight" rating, accompanied by a substantial increase in its price target from $4 to $15.

Satellogic Inc (SATL) rose 27.17% in the early hours of today's trading to move at $4.99 after announcing $10 million private placement made by a single institutional investor.

In the current trading session, Vor Biopharma Inc (VOR) jumped 29.32% to $1.06 over a previous close of $0.82. The company announced updated clinical data from its ongoing Phase 1/2 VBP101 study of patients with relapsed/refractory AML receiving trem-cel followed by Mylotarg.

Ex-Dividends Stocks

Harley-Davidson, Inc (HOG) 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 $0.17 per share. It has fixed December 10 as the record date for the same and will pay the actual dividend on December 23. Last year, the company distributed a total of $0.68 to its shareholders. Based on the last year's worth of payments, HOG has a trailing yield of 2.03% on the current stock price of $33.63.

Shares of PPL Corp (PPL) 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 $0.26 per share, and in the last 12 months, it paid a total of $1.01 per share. Last year's total dividend payments show that PPL has a trailing yield of 3.05% on the current share price of $33.24.

Travelers Companies Inc (TRV) is also set to go ex-dividend tomorrow. The next dividend payment from TRV will amount to $1.05 per share. December 10 has been designated as the record date for this dividend, with the actual payout scheduled for December 31. In the previous year, TRV distributed a total of $4.10 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TRV stands at 1.62% based on the current stock price of $253.54.

VF Corp (VFC) will be paying out a dividend of $0.09 per share to shareholders holding their shares as of the close of the business hours on the record date of December 10. Over the past 12 months, VFC has paid out a total of $0.36 per share in dividends. Based on the total dividends paid out last year, VFC boasts an impressive trailing yield of 1.67% on the current share price of $21.60.

Crypto Market Highlights

• Brad Garlinghouse, CEO of Ripple Labs, criticized 60 Minutes for omitting key information regarding the SEC lawsuit against Ripple in a segment about crypto’s role in the 2024 US elections.

• MicroStrategy continues to buy Bitcoin, acquiring 21,550 BTC for $2.1 billion between Dec. 2 and 8, despite BTC reaching all-time high prices above $100,000.

• El Salvador is scaling back its Bitcoin plans under pressure from the IMF, expecting to reach a $1.3 billion loan deal in exchange for changes to its Bitcoin Law.

• Dubai-based crypto platform BitOasis secured a new license after being acquired by Indian exchange CoinDCX.

• Polish authorities arrested the former chief of Russia-based crypto exchange WEX in Warsaw following an extradition request from the US Department of Justice.

  Most Shorted Stocks

Nikola Corp (NKLA) was one of the most shorted stocks as of the latest short interest figures, with 22.89% 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 2.8. This represents a change of -1840000 shares, which corresponds to a -12.51% decrease in short interest. The total value of the shares held short is estimated to be around $20.33 million. The average daily volume stands at 5.36M shares, and the market capitalization of the company is $93.84M.

The Workhorse Group Inc with the symbol WKHS currently has a short interest of 16.47%. The short interest has changed by 490000 shares. The days to cover ratio stands at 2.0. The estimated value of the shares held short is approximately $7.38 million. On an average day, 3.33M shares are traded, with the company's market capitalization totaling $50.22M.

For the stock Verve Therapeutics Inc (VERV), the current short interest is at 27.07%. This represents a significant short interest change of -150000 shares, corresponding to a short interest percentage decrease of -0.87%. The days needed to cover the short positions amount to 12.1. The approximate worth of the shares held short is $117.85 million.

With the symbol MARA, the stock currently has a short interest of 20.14%. The short interest change is -5620000 shares, compared with a short interest percentage change of -7.98%. It would take approximately 1.3 days to cover all the short positions. The shares short value is estimated to be around $421.88 million. The company boasts an average daily volume of 56.27M shares, contributing to a market capitalization of $8.48B.

The stock LAZR has a current short interest of 26.09%. The short interest percentage has experienced a decrease of -94.11% while there was a change of -106980000 shares in short interest. The ratio indicating the time required to cover short positions is 2.8. The calculated worth of the shorted shares amounts to around $525.61 million. Trading activity averages at 2.49M shares per day, while the company's market capitalization stands at $270.03M.

Upcoming IPOs

Fast Track Group (FTRK) is all set for its debut on the NASDAQ exchange on December 10. They are offering shares in the price range of $4.00 to $5.00. With a total of 3,000,000 shares available, the company aims to raise approximately $13.50M through this IPO.

ServiceTitan, Inc. (TTAN) will be entering the market with its IPO on December 12, on the NASDAQ exchange. They are offering shares in the price range of $52.00 to $57.00. They plan to offer 8,800,000 shares, targeting a deal size of $479.60M.

New Century Logistics (BVI) Limited (NCEW) is also scheduled to make its debut on the NASDAQ exchange on December 12. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 1,250,000 shares, aiming for a deal size of $5.63M.

Metros Development Co., Ltd. (MTRS) is set to join the NASDAQ on December 13. They are offering shares in the price range of $5.50 to $6.50. They are offering 1,333,334 shares, with an estimated deal size of $8.00M.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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