Lunchtime Snapshot: Winner EV Stocks & Budget $10 Picks

Stocks are steady this Tuesday as traders weigh the recent year-end rally to record highs while awaiting key U.S. inflation data, which is set for release this week.

At 11:45 AM ET, the Dow was up 52.33 points, or 0.1179%, at $44454.27. The Nasdaq Composite lost -7.91 points, or -0.04%, at $21432.9107. The S&P 500 declined -0.91 points, or -0.015%, at $6051.93. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Real Estate leading the way with a 1.03% decrease.

The major averages dipped on Monday, with the S&P 500 and Nasdaq Composite sliding 0.6% from their record levels. Nvidia shares continued their decline, falling over 1% Tuesday after a 2% drop in the prior session, as a Chinese regulator opened an antitrust investigation into the chip giant. In contrast, Meta Platforms rebounded slightly, gaining nearly 1% after losses the previous day.

All eyes are now on Wednesday’s Consumer Price Index (CPI) report, expected to show a 0.3% rise in November and a 2.7% year-over-year increase, according to economists polled by Dow Jones. This critical report could shape the Federal Reserve’s rate decision at its Dec. 17-18 meeting.

Top Movers: Under $10

Chimerix Inc (CMRX) is up 245.01% today to trade at the current level of $2.98. This comes after the company announced that, following extensive dialogue with the FDA, it plans to submit a complete New Drug Application (NDA) seeking accelerated approval for dordaviprone for recurrent H3 K27M-mutant diffuse glioma in the U.S. before year-end.

Cardiff Oncology Inc (CRDF) zoomed 48.23% in today’s trade to $3.62. The company announced the pricing of an underwritten offering of 15,384,619 shares of its common stock at an offering price of $2.60 per share, before deducting underwriting discounts and commissions.

In current trading, Trinseo PLC (TSE) stock is at $5.83 after announcing that it and certain of its subsidiaries have entered into a Transaction Support Agreement with certain holders and lenders of Trinseo’s outstanding senior notes and term loans.

Banzai International Inc (BNZI) rose 31.65% in the early hours of today's trading to move at $1.83 after announcing definitive agreement to acquire OpenReel, growing TTM revenue 152% to $10.9M.

In the current trading session, Cumberland Pharmaceuticals Inc (CPIX) jumped 87.86% to $2.33 over a previous close of $1.24 after announcing that the FDA has approved a supplemental New Drug Application for its Acetadote® product.

Ex-Dividends Stocks

Ameren Corp (AEE) 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 $0.67 per share. It has fixed December 11 as the record date for the same and will pay the actual dividend on December 31. Last year, the company distributed a total of $2.64 to its shareholders. Based on last year's payments, AEE has a trailing yield of 2.90%, and the current stock price is $90.96.

Shares of HP Inc (HPQ) will be the talk of the stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.29 per share, and in the last 12 months, it paid a total of $1.10 per share. Last year's total dividend payments show that HPQ has a trailing yield of 3.12% on the current share price of $35.32.

Tomorrow, Kohl's Corp (KSS) is also set to go ex-dividend tomorrow. The next dividend payment from KSS will amount to $0.5 per share. December 11 has been designated as the record date for this dividend, with the actual payout scheduled for December 24. In the previous year, KSS distributed a total of $2.00 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for KSS stands at 13.24% based on the current stock price of $15.11.

Lam Research Corp (LRCX) will be paying out a dividend of $0.23 per share to shareholders holding their shares as of the close of the business hours on the record date of December 11. Over the past 12 months, LRCX has paid out a total of $0.83 per share in dividends. Based on the total dividends paid out last year, LRCX boasts an impressive trailing yield of 1.10% on the current share price of $75.14.

Crypto Market Highlights

• BitGo is expanding yield opportunities by integrating institutional-grade Bitcoin staking through Core DAO's layer-1 blockchain platform. 

• Crypto.com has partnered with Deutsche Bank to provide corporate banking services across the Asia-Pacific region, including Singapore, Australia, and Hong Kong.

• DNA Holdings has launched a deal desk for tokenized investments in blockchain-based projects.

• Billionaire investor Ray Dalio raised concerns about a potential “pending debt money problem” in global finance, advising a shift toward hard assets like Bitcoin and gold.

• The Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority has recognized Tether’s stablecoin (USDT) as an accepted virtual asset, enabling licensed financial providers to offer related services.

Most Shorted Stocks

Madrigal Pharmaceuticals Inc (MDGL) was one of the most shorted stocks as of latest short interest figures, with 20.31% 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 11.3. This represents a change of -100000 shares, which corresponds to a -2.21% decrease in short interest. The total value of the shares held short is estimated to be around $1.41 billion. The average daily volume stands at 405.06K shares, and the market capitalization of the company is $6.96B.

The Bloom Energy Corp with the symbol BE currently has a short interest of 20.05%. The short interest has changed by 2030000 shares. The days to cover ratio stands at 6.0. The estimated value of the shares held short is approximately $1.14 billion. On an average day, 8.07M shares are traded, with the company's market capitalization totaling $5.68B.

For the stock Trupanion Inc (TRUP), the current short interest is at 27.95%. This represents a significant short interest change of -270000 shares, corresponding to a short interest percentage decrease of -3.13%. The days needed to cover the short positions amount to 14.0. The approximate worth of the shares held short is $452.98 million.

With the symbol CRBP, the stock currently has a short interest of 22.04%. The short interest change is 20000 shares, compared with a short interest percentage change of +0.84%. It would take approximately 3.7 days to cover all the short positions. The shares short value is estimated to be around $129.65 million. The company boasts an average daily volume of 664.03K shares, contributing to a market capitalization of $188.73M.

The stock CLSK has a current short interest of 17.08%. The short interest percentage has experienced a decrease of -9.75% while there was a change of -5400000 shares in short interest. The ratio indicating the time required to cover short positions is 1.8. The calculated worth of the shorted shares amounts to around $31.3 million. Trading activity averages at 31.82M shares per day, while the company's market capitalization stands at $3.81B.

EV Stocks to Watch

According to our ST Score evaluation, Teck Resources Ltd (TECK) emerges as a high-quality stock in the EV industry, attaining an impressive score of 58. The stock's profitability and Piotroski Score are strong. However, its growth is weak. Additionally, it is neutral in terms of performance, financial strength, stock sentiment, and forecast.

Our ST Score also classifies Enersys (ENS) as a high-quality EV stock today, presenting a Score of 51. The stock has strong fundamentals in terms of profitability, and Piotroski Score. However, it has weak performance and growth. The financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, EVgo Inc (EVGO) has the ST Score of 51, which means that the stock carries the potential for higher returns. The stock is strong in performance, and financial strength but weak in profitability, growth, stock sentiment, and forecast. Piotroski's score suggests a neutral outlook.

Fluence Energy Inc (FLNC) stock has the ST Score of 51 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its growth, financial strength, and Piotroski Score, but its weaknesses are in its performance. However, it shows a neutral outlook in profitability, stock sentiment, and forecast.

Toyota Motor Corporation ADR (TM) currently has the ST Score of 51, which signifies a huge upward potential. The EV stock's strong points are its profitability, performance, and Piotroski Score, while its weak points are its growth and financial strength. The stock's stock sentiment 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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