Lunchtime Highlights: AI Power Stocks & Must-Watch $10 Gems

U.S. stocks were steady on Wednesday as investors aimed to sustain the postelection rally following an inflation report that aligned with forecasts.

As of 11:42 AM ET, the Dow was up 165.92 points, or 0.3779%, at $44076.91. The Nasdaq Composite lost -31.37 points, or -0.1489%, at $21039.4191. The S&P 500 rose 5.78 points, or 0.0966%, at $5989.78. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Utilities leading the way with a -0.74% decrease.

The October consumer price index (CPI) showed a 2.6% annual increase, matching expectations from economists polled by Dow Jones. Core CPI, which excludes volatile food and energy prices, rose 3.3% year-over-year, also meeting estimates. Following the release, fed funds futures indicated a strong probability that the Federal Reserve could move to cut rates again in December, according to the CME FedWatch tool.

Investors will also be watching for further key economic data releases later in the week, with the producer price index set for Thursday and retail sales numbers due on Friday.

Top Movers: Under $10

Microvast Holdings Inc (MVST) is up 333.07% today to trade at the current level of $0.78. This comes after the company reported third-quarter 2024 financial results.

Nature's Miracle Holding Inc (NMHI) zoomed 79.46% in today’s trade to $0.15 after announcing the closing of $3.0 million public offering.

In current trading, Kaixin Holdings (KXIN) stock is at $4.67 following the receipt of Nasdaq letter regarding regaining compliance with minimum bid price requirement.

Pulmatrix Inc (PULM) rose 42.29% in the early hours of today's trading to move at $2.92 after announcing a merger agreement with Cullgen Inc.

In the current trading session, Quantum Computing Inc (QUBT) jumped 33.70% to $1.85 over a previous close of $1.38. The company announced that it has secured its first order for its thin film lithium niobate (TFLN) photonic chip foundry.

Ex-Dividends Stocks

Peabody Energy Corp (BTU) 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 $0.07 per share. It has fixed November 14 as the record date for the same and will pay the actual dividend on December 04. Last year, the company distributed a total of $0.30 to its shareholders. Based on the last year's worth of payments, BTU has a trailing yield of 1.10% on the current stock price of $27.29.

Shares of Invesco Ltd (IVZ) will be the talk of the stock market on Thursday 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 $0.81 per share. Last year's total dividend payments show that IVZ has a trailing yield of 4.52% on the current share price of $17.92.

LKQ Corp (LKQ) is also set to go ex-dividend tomorrow. The next dividend payment from LKQ will amount to $0.3 per share. November 14 has been designated as the record date for this dividend, with the actual payout scheduled for November 27. In the previous year, LKQ distributed a total of $1.20 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for LKQ stands at 3.11% based on the current stock price of $38.52.

SBA Communications Corp (SBAC) will be paying out a dividend of $0.98 per share to shareholders holding their shares as of the close of the business hours on the record date of November 14. Over the past 12 months, SBAC has paid out a total of $3.79 per share in dividends. Based on the total dividends paid out last year, SBAC boasts an impressive trailing yield of 1.72% on the current share price of $220.20.

Crypto Market Highlights

• Cryptocurrency infrastructure firm MoonPay introduces a new payment tool, MoonPay Balance, allowing users to store and spend fiat balances and interact with decentralized finance (DeFi).

• Zero Gravity Labs raises $290 million to develop the world’s first decentralized artificial intelligence operating system (dAIOS).

• Tokyo-based cryptocurrency exchange Coincheck, a subsidiary of Monex Group, is set to debut on the Nasdaq after receiving approval from the U.S. Securities and Exchange Commission.

• Revolut expands its cryptocurrency exchange services in Europe by rolling out Revolut X in 30 new markets across the European Economic Area (EEA).

• Bitwise Asset Management expands into Ethereum staking with the acquisition of staking service provider Attestant, known for its spot Bitcoin ETFs.

Most Shorted Stocks

Phathom Pharmaceuticals Inc (PHAT) was one of the most shorted stocks as of latest short interest figures, with 25.52% 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 16.3. This represents a change of -110000 shares, which corresponds to a -0.63% decrease in short interest. The total value of the shares held short is estimated to be around $173.63 million. The average daily volume stands at 1.22M shares, and the market capitalization of the company is $680.35M.

The Cassava Sciences Inc with the symbol SAVA currently has a short interest of 38.60%. The short interest has changed by -370000 shares. The days to cover ratio stands at 10.7. The estimated value of the shares held short is approximately $478.36 million. On an average day, 1.71M shares are traded, with the company's market capitalization totaling $1.24B.

For the stock Groupon Inc (GRPN), the current short interest is at 44.27%. This represents a significant short interest change of 50000 shares, corresponding to a short interest percentage increase of +0.54%. The days needed to cover the short positions amount to 8.0. The approximate worth of the shares held short is $80.16 million.

With the symbol LCID, the stock currently has a short interest of 44.04%. The short interest change is 29850000 shares, compared with a short interest percentage change of +12.34%. It would take approximately 6.3 days to cover all the short positions. The shares short value is estimated to be around $21.13 million. The company boasts an average daily volume of 44.17M shares, contributing to a market capitalization of $6.82B.

The stock MPW has a current short interest of 42.94%. The short interest percentage has experienced an increase of +1.86% while there was a change of 4050000 shares in short interest. The ratio indicating the time required to cover short positions is 18.5. The calculated worth of the shorted shares amounts to around $1.18 billion. Trading activity averages at 11.99M shares per day, while the company's market capitalization stands at $2.61B.

AI Stock to Watch

According to our ST Score evaluation, Vertiv Holdings Co (VRT) emerges as a high-quality stock in the AI industry, attaining an impressive score of 56. The stock's profitability, performance, and Piotroski Score are strong. However, its financial strength are weak. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies ServiceNow Inc (NOW) as a high-quality AI stock today, presenting a Score of 56. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. However, it has weak financial strength. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, Salesforce Inc (CRM) has the ST Score of 56, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score but weak in growth, and financial strength. Stock sentiment and forecast suggest a neutral outlook.

Meta Platforms Inc (META) stock has the ST Score of 57 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, financial strength, and Piotroski Score, but its weaknesses are in its growth. However, it shows a neutral outlook in stock sentiment, and forecast.

Advanced Micro Devices Inc (AMD) currently has the ST Score of 57, which signifies a huge upward potential. The AI stock's strong points are its performance, growth, and Piotroski Score. The stock's profitability, financial strength, stock sentiment, and forecast indicate a neutral outlook.