Dear Readers,

The stock market began the week on a steady note, following a spree where major indexes notched new records, all while the market anticipates forthcoming inflation data. The stride into the last week of February has been marked by significant achievements in the indexes, buoyed by Nvidia's stellar earnings results.

As of 12:05 PM ET, the Dow was up 6.6 points, or 0.0169%, at $39138.14. The Nasdaq Composite added 63.57 points, or 0.3544%, at $18001.1761. The S&P 500 declined -4.42 points, or -0.0869%, at $5084.37. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Communication Services leading the way with a 1.08% decrease.

Market participants are keeping a close eye on the sustainability of the recent surge in AI-related stocks amidst persistent economic and inflationary concerns. They are also looking forward to the release of the monthly personal consumption expenditures (PCE) price index — the Federal Reserve's preferred barometer for inflation, which is scheduled for release on Thursday.

Moreover, a series of economic indicators are set to be released, including data on January's durable goods orders and wholesale inventories, expected on Tuesday and Wednesday, respectively. The week will be rounded out with the release of consumer spending figures and PCE numbers on Thursday.

Top Movers: Under $10

Akili Inc (AKLI) is up 105.28% today to trade at the current level of $0.45. This comes after the company announced that its Japanese partner Shionogi & Co. Ltd has submitted Akili’s digital therapeutic SDT-001 for marketing approval with the Ministry of Health, Labor, and Welfare.

Neptune Wellness Solutions Inc (NEPT) zoomed 61.65% in today’s trade to $0.52 after announcing that it has placed certain employees on a mandatory unpaid leave of absence effective February 23, 2024 in connection with a rapid cost cutting and restructuring effort.

In current trading, Interactive Strength Inc (TRNR) stock is at $0.85 following the declarations from the company that it has entered into an exclusive worldwide distribution agreement with WOODWAY USA Inc. to sell and distribute CLMBR.

Milestone Pharmaceuticals Inc (MIST) rose 29.99% in the early hours of today's trading to move at $2.21. The company announced plans to resubmit the New Drug Application (NDA) for etripamil to the U.S. Food and Drug Administration (FDA) for paroxysmal supraventricular tachycardia (PSVT).

In the current trading session, Agiliti Inc (AGTI) jumped 29.19% to $9.87 over a previous close of $7.64 following the announcement of a merger agreement. An affiliate of Thomas H. Lee Partners will acquire all outstanding shares, not owned by THL and affiliates, for $10.00 per share in cash, totaling around $2.5 billion in enterprise value.

Ex-Dividends Stocks

Electronic Arts, Inc. (EA) 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 February 28 as the record date for the same and will pay the actual dividend on March 20. Last year, the company distributed a total of $0.76 to its shareholders. Based on the last year's worth of payments, EA has a trailing yield of 0.53% on the current stock price of $142.40.

Another stock that is shelling out dividends tomorrow is Westlake Corporation (WLK), having a market capitalization of $17.61B. It will pay a dividend of $0.5 per share, the payment date of which is March 14. Currently, the stock is trading at a trailing dividend yield of 1.25%.

Shares of Amcor Plc (AMCR) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.12 per share, and in the last 12 months, it paid a total of $0.49 per share. Last year's total dividend payments show that AMCR has a trailing yield of 5.37% on the current share price of $9.16.

Cathay General Bancorp (CATY) is also set to go ex-dividend tomorrow. The next dividend payment from CATY will amount to $0.34 per share. February 28 has been designated as the record date for this dividend, with the actual payout scheduled for March 11. In the previous year, CATY distributed a total of $1.02 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for CATY stands at 2.58% based on the current stock price of $39.47.

Equinix Inc (EQIX) will be paying out a dividend of $4.26 per share to shareholders holding their shares as of the close of the business hours on the record date of February 28. Over the past 12 months, EQIX has paid out a total of $14.49 per share in dividends. Based on the total dividends paid out last year, EQIX boasts an impressive trailing yield of 1.63% on the current share price of $887.79.

Crypto Market Highlights

Most Shorted Stocks

Biomea Fusion Inc (BMEA) was one of the most shorted stocks as of latest short interest figures, with 33.47% 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 7.5. This represents a change of -360000 shares, which corresponds to a -3.51% decrease in short interest. The total value of the shares held short is estimated to be around $164.14 million. The average daily volume stands at 1.41M shares, and the market capitalization of the company is $592.07M.

The Blink Charging Co with the symbol BLNK currently has a short interest of 29.30%. The short interest has changed by -2500000 shares. The days to cover ratio stands at 2.5. The estimated value of the shares held short is approximately $60.44 million. On an average day, 8.52M shares are traded, with the company's market capitalization totaling $205.94M.

For the stock Irobot Corp (IRBT), the current short interest is at 29.53%. This represents a significant short interest change of 5030000 shares, corresponding to a short interest percentage increase of +172.26%. The days needed to cover the short positions amount to 3.6. The approximate worth of the shares held short is $96.67 million.

With the symbol PRME, the stock currently has a short interest of 33.8%. The short interest change is -1,016,615 shares. It would take approximately 15.1 days to cover all the short positions. The company boasts an average daily volume of 634.84K shares, contributing to a market capitalization of $828.86M.

The stock PCT has a current short interest of 32.2%. The short interest change is -278,328. The ratio indicating the time required to cover short positions is 11.98. Trading activity averages at 3.64M shares per day, while the company's market capitalization stands at $921.97M.

Upcoming IPOs

Metros Development Co., Ltd (MTRS) is all set for its debut on the NASDAQ exchange on February 27. They are offering shares in the price range of $8.00 to $9.00. With a total of 1,000,000 shares available, the company aims to raise approximately $8.50M through this IPO.

Amphitrite Digital (AMDI) will be entering the market with its IPO on February 26, on the NYSE American exchange. The shares will be offered in the price range of $3.50 to $4.50 per share. They plan to offer 1,750,000 shares.

NYIAX, Inc. (NYX) is also scheduled to make its debut on the NASDAQ exchange on Mar 1, 2024. The shares will be offered at a fixed price of $4.00 per share. The IPO includes 2,106,250 shares, aiming for a deal size of $8.43M.

1. Powering the Future: 5 Top Energy Stocks to Watch