Market Pulse: Upcoming IPOs & Undervalued $10 Picks

U.S. stocks fell on Monday after a strong week for the major averages, as investors turned their attention to upcoming corporate earnings reports.

The continuation of recent gains for the major U.S. indexes could hinge on whether companies can outperform expectations this earnings season. This week will see around one-fifth of S&P 500 companies, including major players like Tesla, Coca-Cola, and GE Aerospace, report their quarterly results.

Monday's pullback comes after both the S&P 500 and the Dow hit all-time highs on Friday, capping a sixth consecutive week of gains for both benchmarks.

As of 11:36 AM ET, the Dow was down -392.4492 points, or -0.9069%, at $42883.46. The Nasdaq Composite lost -104.1289 points, or -0.5123%, at $20219.912. The S&P 500 declined -37.9297 points, or -0.6468%, at $5826.74. Among the 11 major S&P 500 sectors, 10 showed negative movement, with Energy leading the way with a -1.17% decrease. 

Top Movers: Under $10

Siyata Mobile Inc (SYTA) is up 100.98% today to trade at the current level of $2.03. This comes after the company announced Siyata's next-generation SD7 Ultra series 5G mission-critical push-to-talk (MCPTT) cellular radio handsets will be available on T-Mobile's 5G network.

Spirit Airlines Inc (SAVE) zoomed 61.84% in today’s trade to $2.38 after the company reached a deal with its credit card processor to extend a debt refinancing deadline by two months until Dec. 23.

In current trading, Energy Vault Holdings Inc (NRGV) stock is at $1.77 following the news that it has signed an agreement with Enervest Groupfor the deployment of a 1,000 MWh battery energy storage system at the Stoney Creek site in New South Wales, Australia.

VSee Health Inc. (VSEE) rose 31.10% in the early hours of today's trading to move at $2.15. The company announced the launch of a specialized program designed to tackle obesity and associated health risks through the integration of GLP-1 prescription medicines within its existing telehealth service offerings.

In the current trading session, Windtree Therapeutics Inc (WINT) jumped 21.54% to $1.11 over a previous close of $0.91. The company announced that Craig Fraser, Chairman and Chief Executive Officer, will be presenting a corporate update at the ThinkEquity Conference on Oct 30th at 12:30pm ET.

Ex-Dividends Stocks

APA Corporation (APA) 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 $0.25 per share. It has fixed October 22 as the record date for the same and will pay the actual dividend on November 22. Last year, the company distributed a total of $1.00 to its shareholders. Based on the last year's worth of payments, APA has a trailing yield of 3.95% on the current stock price of $25.34.

Shares of Nokia Corp ADR (NOK) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.02 per share, and in the last 12 months, it paid a total of $0.14 per share. Last year's total dividend payments show that NOK has a trailing yield of 2.93% on the current share price of $4.78.

Tomorrow, Apogee Enterprises Inc. (APOG) is also set to go ex-dividend tomorrow. The next dividend payment from APOG will amount to $0.25 per share. The actual payout scheduled for November 06. In the previous year, APOG distributed a total of $0.99 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for APOG stands at 1.27% based on the current stock price of $78.17.

Carpenter Technology Corp. (CRS) will be paying out a dividend of $0.2 per share to shareholders holding their shares as of the close of the business hours on the record date of Oct 22. Over the past 12 months, CRS has paid out a total of $0.80 per share in dividends. Based on the total dividends paid out last year, CRS boasts an impressive trailing yield of 0.50% on the current share price of $159.78.

Crypto Market Highlights

• European investors have poured a record $105 billion into spot Bitcoin ETFs in the U.S. year-to-date, achieving an all-time high.

•  Cryptocurrency investment products saw their largest inflows since July, reaching $2.2 billion in a week, according to CoinShares.

• Coinbase co-founder and CEO Brian Armstrong has backed multiple Republican candidates for the U.S. Senate in the upcoming November elections. 

• Yuichiro Tamaki, leader of Japan’s Democratic Party for the People, proposed a crypto tax plan to reduce taxes on crypto gains to 20% if elected.

• The Pump.fun team announced a future token release and a new trading terminal called “Pump Advance” during an Oct. 19 X Spaces event. 

Most Shorted Stocks

Eos Energy Enterprises Inc (EOSE) was one of the most shorted stocks as of latest short interest figures, with 26.35% 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 7.4. This represents a change of 4100000 shares, which corresponds to a +8.08% increase in short interest. The total value of the shares held short is estimated to be around $171.68 million. The average daily volume stands at 6.94M shares, and the market capitalization of the company is $679.39M.

The Microvision Inc. with the symbol MVIS currently has a short interest of 25.53%. The short interest has changed by -3180000 shares. The days to cover ratio stands at 29.2. The estimated value of the shares held short is approximately $57.52 million. On an average day, 1.82M shares are traded, with the company's market capitalization totaling $232.46M.

For the stock Lovesac Company (LOVE), the current short interest is at 27.38%. This represents a significant short interest change of 10000 shares, corresponding to a short interest percentage increase of +0.26%. The days needed to cover the short positions amount to 14.3. The approximate worth of the shares held short is $113.37 million.

With the symbol LUNR, the stock currently has a short interest of 27.70%. The short interest change is 2450000 shares, compared with a short interest percentage change of +19.16%. It would take approximately 1.1 days to cover all the short positions. The shares short value is estimated to be around $30.22 million. The company boasts an average daily volume of 14.54M shares, contributing to a market capitalization of $496.75M.

The stock ARQT has a current short interest of 23.44%. The short interest percentage has experienced increase of +9.13% while there was a change of 2270000 shares in short interest. The ratio indicating the time required to cover short positions is 12.7. The calculated worth of the shorted shares amounts to around $129.24 million. Trading activity averages at 2.01M shares per day, while the company's market capitalization stands at $991.23M.

Upcoming IPOs

Aldel Financial II Inc. (ALDF) is all set for its debut on the NASDAQ exchange on October 22. The shares will be offered at a fixed price of $10.00 per share. With a total of 20,000,000 shares available, the company aims to raise approximately $200.00M through this IPO.

HUHUTECH International Group Inc. (HUHU) will be entering the market with its IPO on October 22, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $6.00. They plan to offer 1,250,000 shares, targeting a deal size of $6.25M.

SAG Holdings Limited (SAG) is also scheduled to make its debut on the NASDAQ exchange on October 22. The shares will be offered at a fixed price of $8.00 per share. The IPO includes 1,000,000 shares, aiming for a deal size of $8.00M.

High Roller Technologies, Inc. (ROLR) is set to join the NYSEAMERICAN on October 22. The shares will be offered at a fixed price of $8.00 per share. They are offering 1,250,000 shares, with an estimated deal size of $10.00M.

Li Bang International Corporation Inc. (LBGJ) is preparing for its IPO on the NASDAQ exchange on October 23. The company plans to offer shares in price range of $5.00 to $6.00 each. With a total of 1,600,000 shares on the table, LBGJ aims to raise approximately $8.80M through this public offering.

Best Regards,
Stocks Telegraph Team