Lunchtime Highlights: Upcoming IPOs & $10 Bargain Opportunities

The S&P 500 started December on a high note, climbing to a new record as investors looked to build on November’s strong gains.

As of 11:30 AM ET, the Dow was down -103.4102 points, or -0.2303%, at $44807.24. The Nasdaq Composite added 199.19 points, or 0.9517%, at $21129.5584. The S&P 500 rose 11.05 points, or 0.1832%, at $6043.44. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Utilities leading the way with a -1.67% decrease.

Intel shares surged 6% after CEO Pat Gelsinger stepped down, following years of underperformance at the chipmaker. Tesla rose 3% after Roth MKM upgraded the stock to a buy, highlighting Elon Musk’s close ties with President-elect Donald Trump as a potential catalyst. Meanwhile, AI server maker Super Micro Computer skyrocketed 27% after a special committee reported “no evidence of misconduct” and confirmed the firm’s financial statements were “materially accurate.”

In economic news, fresh data released Monday morning showed an improvement in the U.S. manufacturing sector during November, though it remains in contraction. Investors now turn their focus to the November jobs report, set to be released Friday morning.

Top Movers: Under $10

Lion Electric Co (LEV) is up 96.26% today to trade at the current level of $0.36. This comes after the company announced additional amendments to certain senior credit instruments and additional workforce reductions.

Gorilla Technology Group Inc (GRRR) zoomed 17.22% in today’s trade to $7.14. The company announced the appointment of Thomas Sennhauser to its esteemed Board of Directors.

In current trading, Spectral AI Inc (MDAI) stock is at $2.52 following the successful completion of truthing for all images gathered from burn centers across the United States.

Safe Pro Group Inc (SPAI) rose 21.43% in the early hours of today's trading to move at $5.27 after announcing that its Airborne Response division has delivered on several contract milestones for a multisite installation of a Drone-as-a-First-Responder solution under a multiphase contract with a Florida municipal police department.

In the current trading session, SEALSQ Corp (LAES) jumped 16.65% to $0.48 over a previous close of $0.41. WISeKey International Holding Ltd (WKEY) and its semiconductor subsidiary SEALSQ Corp (LAES) today announced the speaker line-up and agenda for their landmark Davos 2025 Roundtable, commemorating WISeKey’s 20th consecutive year at the Davos forum.

Ex-Dividends Stocks

Nordstrom, Inc (JWN) 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 $0.19 per share. It has fixed December 03 as the record date for the same and will pay the actual dividend on December 18. Last year, the company distributed a total of $0.57 to its shareholders. Based on the last year's worth of payments, JWN has a trailing yield of 2.48% on the current stock price of $22.94.

Shares of Skyworks Solutions, Inc (SWKS) 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 $0.7 per share, and in the last 12 months, it paid a total of $2.06 per share. Last year's total dividend payments show that SWKS has a trailing yield of 2.33% on the current share price of $88.51.

Autoliv Inc (ALV) is also set to go ex-dividend tomorrow. The next dividend payment from ALV will amount to $0.7 per share. December 03 has been designated as the record date for this dividend, with the actual payout scheduled for December 19. In the previous year, ALV distributed a total of $2.04 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ALV stands at 2.05% based on the current stock price of $99.72.

Cable One Inc (CABO) will be paying out a dividend of $2.95 per share to shareholders holding their shares as of the close of the business hours on the record date of December 03. Over the past 12 months, CABO has paid out a total of $11.80 per share in dividends. Based on the total dividends paid out last year, CABO boasts an impressive trailing yield of 2.82% on the current share price of $418.26.

Crypto Market Highlights

• After over a decade of serving institutional clients, BitGo is launching a global version of its digital asset solutions for retail investors, offering services such as trading, staking, wallets, and regulated custody through cold and self-storage. 

• Crypto miner Marathon Digital has purchased more than $600 million worth of Bitcoin in the last two months, as reported in a filing with the SEC.

• MicroStrategy announced the acquisition of approximately 15,400 BTC between Nov. 25 and Dec. 1, funded by $1.5 billion raised through a stock sale at an average price of $95,976 per Bitcoin.

• WisdomTree, known for launching the first U.S. spot Bitcoin ETF, has filed to launch a spot ETF backed by XRP.

• Brazil is considering banning stablecoin withdrawals to self-custodial wallets, amid the Brazilian real hitting record lows against the U.S. dollar.

  Most Shorted Stocks

ImmunityBio Inc (IBRX) was one of the most shorted stocks as of latest short interest figures, with 32.62% 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 10.3. This represents a change of -700000 shares, which corresponds to a -1.33% decrease in short interest. The total value of the shares held short is estimated to be around $256.61 million. The average daily volume stands at 5.11M shares, and the market capitalization of the company is $3.39B.

The Lemonade Inc with the symbol LMND currently has a short interest of 30.67%. The short interest has changed by 190000 shares. The days to cover ratio stands at 7.8. The estimated value of the shares held short is approximately $751.13 million. On an average day, 2.07M shares are traded, with the company's market capitalization totaling $3.57B.

For the stock Sunnova Energy International Inc (NOVA), the current short interest is at 30.29%. This represents a significant short interest change of 1060000 shares, corresponding to a short interest percentage increase of +3.33%. The days needed to cover the short positions amount to 3.7. The approximate worth of the shares held short is $171.13 million.

With the symbol OPK, the stock currently has a short interest of 30.07%. The short interest change is -220000 shares, compared with a short interest percentage change of -0.23%. It would take approximately 25.9 days to cover all the short positions. The shares short value is estimated to be around $49.69 million. The company boasts an average daily volume of 3.72M shares, contributing to a market capitalization of $1.00B.

The stock WOOF has a current short interest of 29.76%. The short interest percentage has experienced an increase of +1.05% while there was a change of 240000 shares in short interest. The ratio indicating the time required to cover short positions is 5.9. The calculated worth of the shorted shares amounts to around $434.21 million. Trading activity averages at 3.96M shares per day, while the company's market capitalization stands at $1.24B.

Upcoming IPOs

Fast Track Group (FTRK) is all set for its debut on the NASDAQ exchange on December 02. 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.

Tavia Acquisition Corp. (TAVI) will be entering the market with its IPO on December 03, on the NASDAQ exchange. The shares will be offered at a fixed price of $10.00 per share. They plan to offer 10,000,000 shares, targeting a deal size of $100.00M.

Jinxin Technology Holding Company (NAMI) is also scheduled to make its debut on the NASDAQ exchange on December 04. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 1,875,000 shares, aiming for a deal size of $8.44M.

NetClass Technology Inc (NTCL) is set to join the NASDAQ on December 04. They are offering shares in the price range of $4.00 to $6.00. They are offering 1,800,000 shares, with an estimated deal size of $9.00M.

ALE Group Holding Limited (ALEH) is preparing for its NASDAQ debut on December 05. The company is offering shares in the price range of $4.00 to $6.00 per share. With a total of 4,200,000 shares available, ALE Group Holding Limited aims to raise approximately $21.00M through its IPO.

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

Best Regards,

Stocks Telegraph Team

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