Market Rundown: Upcoming IPOs & Top $10 Performers

As investors gear up for the upcoming U.S. presidential election, stocks edged lower on Monday amid heightened market volatility. While stocks saw muted movement, a rally in safe-haven U.S. Treasurys suggests that some investors are scaling back risk ahead of election day. The benchmark 10-year Treasury yield slipped to around 4.3%, down from roughly 4.36% on Friday, reflecting the inverse relationship between bond prices and yields.

As of 11:37 AM ET, the Dow was down -263.7695 points, or -0.6272%, at $41788.42. The Nasdaq Composite added 35.15 points, or 0.1755%, at $20068.2921. The S&P 500 declined -10.23 points, or -0.1786%, at $5718.57. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Energy leading the way with a 2.36% increase.

The election isn’t the only focus on Wall Street this week. The Federal Reserve is set to announce its latest rate decision on Thursday, with markets currently pricing in a 96% chance of a rate cut, following a significant 50 basis point adjustment in September. This week’s events are seen as pivotal moments for markets hoping to rally into year-end.

Top Movers: Under $10

Nuwellis Inc (NUWE) is up 119.12% today to trade at the current level of $2.98. This comes after the company announced that the Centers for Medicare and Medicaid Services (CMS) will reassign the Aquadex ultrafiltration code to the outpatient reimbursement level most consistent with the administration of ultrafiltration therapy and cost of treatment.

Advent Technologies Holdings Inc (ADN) zoomed 70.79% in today’s trade to $3.24 after announcing that the RHyno Project initiated by its Greek subsidiary, Advanced Energy Technologies, SA was approved for the full amount of its requested grant in the amount of €34.5 million by the EU Innovation Fund.

In current trading, Staffing 360 Solutions Inc (STAF) stock is at $3.11 following the declaration of a definitive agreement under which Atlantic International Corp. (ATLN) will acquire all outstanding shares of Staffing’s common stock valued at $25 million.

Globalstar Inc (GSAT) rose 26.09% in the early hours of today's trading to move at $1.74 after Apple, Inc. announced plans to invest approximately $1.5B in Globalstar to expand iPhone satellite services.

In the current trading session, Janover Inc (JNVR) jumped 21.46% to $0.62 over a previous close of $0.51 after announcing a licensing agreement with one of the nation’s top 20 publicly traded commercial real estate professional services firms.

Ex-Dividends Stocks

Idacorp, Inc (IDA) 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 $0.86 per share. It has fixed November 05 as the record date for the same and will pay the actual dividend on December 02. Last year, the company distributed a total of $3.32 to its shareholders. Based on the last year's worth of payments, IDA has a trailing yield of 3.15% on the current stock price of $105.28.

Shares of Las Vegas Sands Corp (LVS) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company paid a total of $0.80 per share in the last 12 months. Last year's total dividend payments show that LVS has a trailing yield of 1.56% on the current share price of $51.19.

Byline Bancorp Inc (BY) is also set to go ex-dividend tomorrow. The next dividend payment from BY will amount to $0.09 per share. November 05 has been designated as the record date for this dividend, with the actual payout scheduled for November 19. In the previous year, BY distributed a total of $0.36 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for BY stands at 1.35% based on the current stock price of $26.64.

Constellation Brands Inc (STZ) will be paying out a dividend of $1.01 per share to shareholders holding their shares as of the close of the business hours on the record date of November 05. Over the past 12 months, STZ has paid out a total of $3.80 per share in dividends. Based on the total dividends paid out last year, STZ boasts an impressive trailing yield of 1.59% on the current share price of $238.65.

Crypto Market Highlights

• Zodia Custody is seeking to raise $50 million to expand its global operations and launch new products, according to CEO Julian Sawyer.

• Biconomy has acquired Klaster to create a Modular Execution Environment (MEE) for enhanced account abstraction in Web3 and DApps.

• Deutsche Telekom is entering the Bitcoin mining space, utilizing surplus renewable energy, marking a significant step in cryptocurrency adoption.

• Justin Sun, the founder of Tron, claims that Coinbase demanded $330 million in fees for listing Tron, while Binance did not charge fees but Coinbase requested a $250 million Bitcoin deposit and 500 million TRX tokens.

• Kraken has launched a licensed brokerage service in Australia, aimed at institutional and large-scale investors.

Most Shorted Stocks

Solaredge Technologies Inc (SEDG) was one of the most shorted stocks as of latest short interest figures, with 28.95% 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 4.5. This represents a change of 100000 shares, which corresponds to a +0.61% increase in short interest. The total value of the shares held short is estimated to be around $311.56 million. The average daily volume stands at 3.73M shares, and the market capitalization of the company is $1.12B.

The Medical Properties Trust Inc with the symbol MPW currently has a short interest of 39.55%. The short interest has changed by 2920000 shares. The days to cover ratio stands at 17.2. The estimated value of the shares held short is approximately $996.85 million. On an average day, 12.15M shares are traded, with the company's market capitalization totaling $2.67B.

For the stock Applied Optoelectronics Inc (AAOI), the current short interest is at 26.70%. This represents a significant short interest change of -100000 shares, corresponding to a short interest percentage decrease of -0.91%. The days needed to cover the short positions amount to 4.4. The approximate worth of the shares held short is $188.37 million.

With the symbol ENVX, the stock currently has a short interest of 35.16%. The short interest change is -1620000 shares, compared with a short interest percentage change of -3.03%. It would take approximately 9.2 days to cover all the short positions. The shares short value is estimated to be around $94.02 million. The company boasts an average daily volume of 6.10M shares, contributing to a market capitalization of $1.54B.

The stock UPST has a current short interest of 27.55%. The short interest percentage has experienced a decrease of -2.18% while there was a change of -550000 shares in short interest. The ratio indicating the time required to cover short positions is 3.1. The calculated worth of the shorted shares amounts to around $2.54 billion. Trading activity averages at 7.97M shares per day, while the company's market capitalization stands at $4.37B.

Upcoming IPO’s

ADURO CLEAN TECHNOLOGIES INC. (ADUR) will be entering the market with its IPO on November 05, on the NASDAQ exchange. They are offering shares in the price range of $4.25 to $5.00. They plan to offer 1,098,901 shares, targeting a deal size of $6,318,680.

Peak Resources LP (PRB) is all set for its debut on the NYSE MKT exchange on November 13. The shares will be offered in a price range of $13.00 to $15.00 per share. With a total of 4,700,000 shares available, the company aims to raise approximately $81,075,000 through this IPO.