Market Surge: EV Leaders & $10 Stocks to Watch

The stock market is holding steady Tuesday after encouraging job market data. Job openings came in at 7.44 million, below the forecast of 8 million and down from the previous 7.86 million, signaling a cooling demand for labor.

As of 11:27 AM ET, the Dow was down -75.72 points, or -0.1786%, at $42311.86. The Nasdaq Composite added 91.7 points, or 0.4506%, at $20442.7659. The S&P 500 rose 4.99 points, or 0.0857%, at $5828.5. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Communication Services leading the way with a 0.92% increase.

This is seen as a win-win for the U.S. economy. While growth continues and employers are still hiring, the softer demand for labor suggests wages won’t spike, which could help prevent inflation from becoming problematic. This data point helps bolster the Federal Reserve's confidence in its ability to cut interest rates to sustain economic growth.

Top Movers: Under $10

GlycoMimetics Inc (GLYC) is up 148.57% today to trade at the current level of $0.42. This comes after the company announced thatit has entered into an acquisition agreement with Crescent Biopharma, Inc.

Bio-Key International Inc. (BKYI) zoomed 82.32% in today’s trade to $1.26. This rally can be attributed to news that the company has received a $910,000 order from a long-term financial services customer to upgrade to BIO-key’s “fingerprint only” Biometric Customer Identification Technology.

In current trading, Profire Energy Inc (PFIE) stock is at $2.51 after announcing a definitive agreement with CECO Environmental Corp. (CECO) where CECO will acquire Profire, in an all-cash transaction.

Innovative Eyewear Inc (LUCY) rose 32.11% in the early hours of today's trading to move at $7.90. The company announced that it has officially launched Lucyd Armor™—the world's first smart safety eyewear in a lightweight, affordable and prescription-ready form factor, and meeting the ANSI Z87.1 standard for workplace safety use.

In the current trading session, Shuttle Pharmaceuticals Holdings Inc (SHPH) jumped 33.08% to $1.77 over a previous close of $1.33 after announcing that the first three patients in its Phase 2 Clinical Trial of Ropidoxuridine for the treatment of patients with glioblastoma have been successfully dosed.

Ex-Dividends Stocks

Cal-Maine Foods, Inc. (CALM) 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 $1.02 per share. It has fixed October 30 as the record date for the same and will pay the actual dividend on November 14. Last year, the company distributed a total of $1.89 to its shareholders. Based on the last year's worth of payments, CALM has a trailing yield of 2.10% on the current stock price of $90.15.

Shares of Celanese Corp (CE) will be the talk of stock market on Wednesday 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 $2.10 per share. Last year's total dividend payments show that CE has a trailing yield of 1.64% on the current share price of $128.25.

Entegris Inc (ENTG) is also set to go ex-dividend tomorrow. The next dividend payment from ENTG will amount to $0.1 per share. October 30 has been designated as the record date for this dividend, with the actual payout scheduled for November 20. In the previous year, ENTG distributed a total of $0.40 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for ENTG stands at 0.37% based on the current stock price of $107.04.

Mesabi Trust (MSB) will be paying out a dividend of $0.39 per share to shareholders holding their shares as of the close of the business hours on the record date of October 30. Over the past 12 months, MSB has paid out a total of $1.31 per share in dividends. Based on the total dividends paid out last year, MSB boasts an impressive trailing yield of 5.33% on the current share price of $24.59.

Crypto Market Highlights

• Paxos CEO Charles Cascarilla calls on US presidential candidates to adopt stablecoins to enhance the US dollar's global dominance and address banking inefficiencies.

• Bhutan's government is moving its Bitcoin holdings, transferring over $66 million worth to Binance as prices exceed $70,000.

• Gemini receives preliminary approval from Singapore's central bank to offer select services in the country.

• Legion launches a new reputation system for retail investors and startups interested in ICOs, complying with EU regulations.

• Coinbase CEO Brian Armstrong demands an apology from the next SEC chair for the agency's negative impact on the crypto sector.

Most Shorted Stocks

Bright Minds Biosciences Inc (DRUG) was one of the most shorted stocks as of latest short interest figures, with 38.24% 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 0.4. This represents a change of 1084900 shares, which corresponds to a +1,274.85% increase in short interest. The total value of the shares held short is estimated to be around $54.26 million. The average daily volume stands at 2.92M shares, and the market capitalization of the company is $206.87M.

The AST SpaceMobile Inc with the symbol ASTS currently has a short interest of 34.67%. The short interest has changed by -2850000 shares. The days to cover ratio stands at 2.2. The estimated value of the shares held short is approximately $1.02 billion. On an average day, 17.15M shares are traded, with the company's market capitalization totaling $4.35B.

For the stock Spirit Airlines Inc (SAVE), the current short interest is at 33.89%. This represents a significant short interest change of 940000 shares, corresponding to a short interest percentage increase of +2.63%. The days needed to cover the short positions amount to 4.6. The approximate worth of the shares held short is $98.98 million.

With the symbol LUNR, the stock currently has a short interest of 33.30%. The short interest change is 3060000 shares, compared with a short interest percentage change of +20.08%. It would take approximately 1.2 days to cover all the short positions. The shares short value is estimated to be around $298.05 million. The company boasts an average daily volume of 15.42M shares, contributing to a market capitalization of $511.54M.

The stock TRUP has a current short interest of 33.15%. The short interest percentage has experienced decrease of -4.90% while there was a change of -510000 shares in short interest. The ratio indicating the time required to cover short positions is 15.3. The calculated worth of the shorted shares amounts to around $984.91 million. Trading activity averages at 645.06K shares per day, while the company's market capitalization stands at $2.27B.

EV Stocks to Watch

According to our ST Score evaluation, Cirrus Logic, Inc. (CRUS) emerges as a high-quality stock in the EV industry, attaining an impressive score of 64. The stock's profitability, performance, financial strength, and Piotroski Score are strong. However, its growth are weak. Additionally, it is neutral in terms of stock sentiment, and forecast.

Our ST Score also classifies Hyliion Holdings Corporation (HYLN) as a high-quality EV stock today, presenting a Score of 56. The stock has strong fundamentals in terms of performance, and financial strength. However, it has weak profitability, stock sentiment, and forecast. The growth, and Piotroski Score are neutral.

Another stock in the category, General Motors Company (GM) has the ST Score of 55, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score but weak in growth, and financial strength. Stock sentiment, and forecast suggest a neutral outlook.

Enersys (ENS) stock has the ST Score of 54 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, and Piotroski Score, but its weaknesses are in its growth. However, it shows neutral outlook in performance, financial strength, stock sentiment, and forecast.

Li Auto Inc ADR (LI) currently has the ST Score of 54, which signifies a huge upward potential. The EV stock's strong points are its profitability, performance, and financial strength. The stock's growth, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.