Dear Readers,

Stocks remained steady on Monday as investors aimed to recover from a setback last week.

The Dow Jones, comprising 30 stocks, recorded its weakest performance since March 2023. Meanwhile, the S&P 500 experienced a nearly 1% decline, marking its largest weekly drop since early January.

Despite this, the market ended the week positively following a robust jobs report on Friday. The unexpected increase in payrolls buoyed investor confidence in the economy's resilience, potentially supporting corporate earnings growth despite the prospect of prolonged higher interest rates.

Investors are eagerly anticipating the release of March's consumer and producer price indexes later this week to gauge the Federal Reserve's success in combating inflation.

Economists surveyed by Dow Jones forecast a 0.3% increase in the CPI number for last month and a 3.5% year-over-year rise.

As of 12:20 PM ET, the Dow was down -10.2578 points, or -0.0264%, at $38893.78. The Nasdaq Composite lost -12.53 points, or -0.0692%, at $18095.9254. The S&P 500 declined -2.27 points, or -0.0436%, at $5202.08. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Technology leading the way with a 0.41% decrease.

Top Movers: Under $10

Auddia Inc (AUUD) is up 230.77% today to trade at the current level of $4.73. This comes after the company announced that the U.S. Patent and Trademark Office (USPTO) awarded Auddia with U.S. Patent 11,935,520 for the core AI technology Auddia uses in its flagship faidr app to deliver ad-free AM/FM radio stations to paid subscribers..

Longeveron Inc (LGVN) zoomed 55.45% in today’s trade to $3.42 after revealing plans for a proposed public share offering.

In current trading, Smart for Life Inc (SMFL) stock is at $0.77 following the announcement of definitive agreement from the company to acquire purely optimal nutrition, a premier north american nutraceutical company.

U Power Ltd (UCAR) rose 36.81% in the early hours of today's trading to move at $6.43 after announcing plans to launch its commercial battery swap service.

In the current trading session, Palatin Technologies Inc. (PTN) jumped 20.03% to $2.11 over a previous close of $1.76 following the presentation of topline results for its Phase 3 PL9643 MELODY-1 pivotal clinical trial evaluating the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease (DED) at the American Society of Cataract and Refractive Surgery (ASCRS).

Ex-Dividends Stocks

Oracle Corp. (ORCL) 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 $0.4 per share. It has fixed April 10 as the record date for the same and will pay the actual dividend on April 24. Last year, the company distributed a total of $1.60 to its shareholders. Based on the last year's worth of payments, ORCL has a trailing yield of 1.29% on the current stock price of $124.51.

Another stock that is shelling out dividends tomorrow is Darden Restaurants, Inc. (DRI), having a market capitalization of $18.85B. It will pay a dividend of $1.31 per share, the payment date of which is May 01. Currently, the stock is trading at a trailing dividend yield of 3.25%.

Shares of General Mills, Inc. (GIS) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.59 per share, and in the last 12 months, it paid a total of $1.77 per share. Last year's total dividend payments show that GIS has a trailing yield of 2.53% on the current share price of $70.07.

Tomorrow, Lincoln National Corp. (LNC) is also set to go ex-dividend tomorrow. The next dividend payment from LNC will amount to $0.45 per share. April 10 has been designated as the record date for this dividend, with the actual payout scheduled for May 01. In the previous year, LNC distributed a total of $1.35 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for LNC stands at 4.36% based on the current stock price of $30.94.

AT&T, Inc. (T) will be paying out a dividend of $0.28 per share to shareholders holding their shares as of the close of the business hours on the record date of April 10. Over the past 12 months, T has paid out a total of $1.11 per share in dividends. Based on the total dividends paid out last year, T boasts an impressive trailing yield of 6.38% on the current share price of $17.39.

Crypto Market Highlights

• Ethereum-based crypto investment products record fourth consecutive week of negative outflows

• Polkadot blockchain hits new all-time high in active addresses

• Detained Binance executive Tigran Gambaryan pleads not guilty to money laundering charges in Nigeria

• DeFi protocol dYdX investigates halt in block production during a scheduled upgrade

• Frax Finance approves $250 million allocation of USDe to new liquidity pool via community governance proposal

• SEC official states inability to endorse fund retrieval methods post Binance blockage by ISPs in the Philippines

• HashKey Group launches global crypto exchange HashKey Global from Bermuda, following Coinbase's lead

Most Shorted Stocks

PureCycle Technologies Inc (PCT) was one of the most shorted stocks as of the latest short interest figures, with 33.0% 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 13.35. This represents a change of 1.19 million shares, which corresponds to a 3.19% increase in short interest. The total value of the shares held short is estimated to be around $6.96 million. The average daily volume stands at 2.76M shares, and the market capitalization of the company is $968.60M.

The ChargePoint Holdings Inc with the symbol CHPT currently has a short interest of 28.92%. The short interest has changed by 14560000 shares. The days to cover ratio stands at 7.0. The estimated value of the shares held short is approximately $199.04 million. On an average day, 14.88M shares are traded, with the company's market capitalization totaling $799.85M.

For the stock Lovesac Company (LOVE), the current short interest is at 26.8%. This represents a significant short interest change of 217,906 shares, corresponding to a short interest percentage increase of 6.07%. The days needed to cover the short positions amount to 16.11. The approximate worth of the shares held short is $5.44 million.

With the symbol ULCC, the stock currently has a short interest of 27.1%. The short interest change is -796,137 shares, compared with a short interest percentage change of -6.45%. It would take approximately 4.79 days to cover all the short positions. The shares short value is estimated to be around $5.93 million. The company boasts an average daily volume of 2.49M shares, contributing to a market capitalization of $1.67B.

The stock PLUG has a current short interest of 25.16%. The short interest percentage has experienced an increase of +7.73% while there was a change of 12360000 shares in short interest. The ratio indicating the time required to cover short positions is 3.9. Trading activity averages at 44.23M shares per day, while the company's market capitalization stands at $2.15B.

Upcoming IPOs

Mobile-health Network Solutions (MNDR) is all set for its debut on the NASDAQ exchange on April 09. They are offering shares in the price range of $4.00 to $5.00. With a total of 2,250,000 shares available, the company aims to raise approximately $10.13M through this IPO.

Linkers Industries Limited (LNKS) will be entering the market with its IPO on April 09, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $6.00. They plan to offer 2,200,000 shares, targeting a deal size of $11.00M.

PACS Group, Inc. (PACS) is also scheduled to make its debut on the NYSE exchange on April 11. They are offering shares in the price range of $20.00 to $22.00. The IPO includes 19,050,000 shares, aiming for a deal size of $400.05M.

UL Solutions Inc. (ULS) is set to join the NYSE on April 12. They are offering shares in the price range of $26.00 to $29.00. They are offering 28,000,000 shares, with an estimated deal size of $770.00M.

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