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Your Investor Advantage: Today’s Must-Watch Stocks!
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Good Afternoon!
On Thursday, the stock market experienced a decline despite the impressive performance of Nvidia, as the broader market remained unaffected. The company's quarterly earnings and revenue surpassed high analyst projections, accompanied by an upward revision of their guidance. In fact, Nvidia's leadership anticipates third-quarter revenue to surge to $16 billion, signifying a remarkable 170% year-over-year growth.
This achievement marks Nvidia's second consecutive quarterly report that has exceeded expectations. The initial quarter's results, unveiled in May, played a significant role in boosting investor enthusiasm for artificial intelligence, which emerged as a crucial market influencer during the first half of the year. This growing interest in Nvidia's chips propelled its valuation beyond the $1 trillion mark.
However, this success did not have a corresponding impact on the broader technology sector. Giants such as Amazon, Netflix, and Apple encountered losses exceeding 1%.
Investors are now looking forward to insights from Federal Reserve Chairman Jerome Powell's upcoming speech in Jackson Hole, Wyoming, scheduled for Friday. The financial community anticipates his remarks to shed light on the trajectory of benchmark interest rates, with hopes of gaining valuable guidance for the future.
The stock market has had a fantastic first half of 2023, with historic gains for the Nasdaq in particular.
And our analysts have uncovered 4 "cheap stocks" that could benefit from bullish conditions heading into the back half of the year.
A small move in share price can go a long way with these four.
Click here to get the names & ticker symbols of all 4 stocks.
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Top Movers: Under $10
Bruush Oral Care Inc. (BRSH) is up 84.97% today to trade at the current level of $3.20. This comes after the company announced an update concerning its warrants.
Bionomics Limited (BNOX) zoomed 17.99% in today’s trade to $1.64. The company concluded the Phase 2 ATTUNE study for PTSD, marking the last patient's visit, and announced the timing of the End of Phase 2 meeting to consider advancing BNC210 into Phase 3 for SAD patients.
In current trading, Cue Health Inc. (HLTH) stock is at $0.5. The company will present at 2023 Wells Fargo Healthcare Conference on September 6, 2023 and at Morgan Stanley 21st Annual Global Healthcare Conference on September 11, 2023.
Taysha Gene Therapies Inc. (TSHA) rose 5.63% in the early hours of today's trading to move at $2.35. The strong performance of TSHA stock came as investors were encouraged by the news that the U.S. FDA has granted Fast Track Designation (FTD) to TSHA-102.
In the current trading session, Fresh Vine Wine Inc. (VINE) jumped 5.17% to $0.46 over a previous close of $0.44 after announcing that its board of directors has initiated an exploration of strategic opportunities by way of merger, acquisition, or any accretive strategic transaction to enhance shareholder value.
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Ex-Dividends Stocks
Johnson & Johnson (JNJ) 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 $1.19 per share. The company has fixed August 28 as the record date for the same and will pay the actual dividend on September 07. Last year, the company distributed a total of $4.76 to its shareholders. Based on the last year's worth of payments, JNJ has a trailing yield of 2.88% on the current stock price of $165.09.
Another stock that is shelling out dividends tomorrow is LyondellBasell Industries N.V. (LYB), having a market capitalization of $31.38B. It will pay a dividend of $1.25 per share, the payment date of which is September 05. Currently, the stock is trading at a trailing dividend yield of 5.14%.
Shares of Northrop Grumman Corporation (NOC) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $1.87 per share, and in the last 12 months, the company paid a total of $7.48 per share. Last year's total dividend payments show that NOC has a trailing yield of 1.71% on the current share price of $436.56.
Paycom Software Inc. (PAYC) is also set to go ex-dividend tomorrow. The next dividend payment from PAYC will amount to $0.38 per share. August 28 has been designated as the record date for this dividend, with the actual payout scheduled for September 11. In the previous year, PAYC distributed a total of $1.50 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PAYC stands at 0.53% based on the current stock price of $284.73.
Yum China Holdings Inc. (YUMC) will be paying out a dividend of $0.13 per share to shareholders holding their shares as of the close of the business hours on the record date of August 28. Over the past 12 months, YUMC has paid out a total of $0.52 per share in dividends. Based on the total dividends paid out last year, YUMC boasts an impressive trailing yield of 0.97% on the current share price of $53.50.
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Crypto Market Highlights
Balancer, a DeFi protocol, cautions $2.8M (0.42% of TVL) at risk after finding vulnerability on Aug. 22.
Cayman Islands might allow Bitcoin holders as residents via BTC-backed real estate loans.
Binance plans changes to Bitcoin trading program on Aug. 24, raising market downturn concerns similar to past 90% volume drop.
Binance's Russian P2P exchange uses sanctioned banks like Rosbank despite denying bank connections.
Blockchain progress: Shibarium layer-2 nearing public launch, Shiba Inu team assures smooth platform readiness.
These stocks are flying well under the radar. But that may not be the case for long. The market may simply be overlooking a red-hot opportunity -- as they're doing with these three stocks.
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Most Shorted Stocks
SL Green Realty Corp. (SLG) was one of the most shorted stocks as of latest short interest figures, with 36.21% 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 5.97. This represents a change of 128,919 shares, which corresponds to a 0.81% increase in short interest. The total value of the shares held short is estimated to be around $1.57 billion. The average daily volume stands at 2.42M shares, and the market capitalization of the company is $2.25B.
The Lucid Group Inc. with the symbol LCID currently has a short interest of 15.90%, an increase from the previous short interest level of 14.58%. The short interest has changed by 16,604,680 shares. The days to cover ratio stands at 3.64. The estimated value of the shares held short is approximately $6.84 billion. On an average day, 48.89M shares are traded, with the company's market capitalization totaling $13.57B.
For the stock ChargePoint Holdings Inc. (CHPT), the current short interest is at 20.16%, compared to the previous level of 19.23%. This represents a significant short interest change of 3,001,626 shares, corresponding to a short interest percentage increase of 4.8%. The days needed to cover the short positions amount to 6.5. The approximate worth of the shares held short is $2.24 billion.
With the symbol FSR, the stock currently has a short interest of 41.50%, showing an increase from the previous level of 36.79%. The short interest change is 9,905,115 shares, compared with a short interest percentage change of 13.05%. It would take approximately 7.85 days to cover all the short positions. The shares short value is estimated to be around $1.22 billion. The company boasts an average daily volume of 9.12M shares, contributing to a market capitalization of $2.06B.
The stock CELC has a current short interest of 15.44%, higher than the previous short interest level of 14.34%. The short interest percentage has experienced an increase of 7.64% while there was a change of 189,687 shares in short interest. The ratio indicating the time required to cover short positions is 55.51. The calculated worth of the shorted shares amounts to around $173.61 million. Trading activity averages at 91.13K shares per day, while the company's market capitalization stands at $230.99M.
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Biotech Stocks to Watch
According to our ST Score evaluation, Arcturus Therapeutics Holdings Inc. (ARCT) 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 Piotroski Score are weak. Additionally, it is neutral in terms of value, financial strength, and forecast.
Our ST Score also classifies POINT Biopharma Global Inc. (PNT) as a high-quality Biotech stock today, presenting a Score of 53.0. The stock has strong fundamentals in terms of profitability, and performance. The value, growth, financial strength, stock sentiment, and forecast are neutral.
Another stock in the category, Vertex Pharmaceuticals Incorporated (VRTX) has the ST Score of 60.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and growth but weak in value, and financial strength. Stock sentiment, piotroski score, and forecast suggest a neutral outlook.
Cyteir Therapeutics Inc. (CYT) stock has the ST Score of 53.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its valuation, performance, and financial strength. However, it shows neutral outlook in profitability, growth, stock sentiment, and forecast.
Annexon Inc. (ANNX) currently has the ST Score of 52.0, which signifies a huge upward potential. The Biotech stock's strong points are its performance, financial strength, and stock sentiment. The stock's value, profitability, growth, and forecast indicate a neutral outlook.
That's it for today. Thanks for reading. Good luck out there!
Best Regards,
Stocks Telegraph Team
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