Dear Readers,

Stocks plunged on Thursday as the latest U.S. economic figures revealed a significant growth slowdown and indicated ongoing inflationary pressures.

According to the Bureau of Economic Analysis, U.S. gross domestic product (GDP) only expanded by 1.6% in the first quarter, falling short of economists' expectations of 2.4% growth.

Additionally, the report highlighted a notable increase in consumer prices, rising at a pace of 3.4%, compared to the previous quarter's 1.8% rise. This heightened concerns about persistent inflation and raised doubts about the Federal Reserve's ability to implement rate cuts in the near future.

In response to the GDP data, traders adjusted their expectations for Federal Reserve monetary policy, now anticipating only one interest rate cut this year, as indicated by the CME FedWatch Tool.

As of 12:21 PM ET, the Dow was down -494.06 points, or -1.28%, at $37966.87. The Nasdaq Composite lost -225.11 points, or -1.28%, at $17301.6886. The S&P 500 declined -45.3398 points, or -0.894%, at $5026.29. Among the 11 major S&P 500 sectors, 4 showed negative movement, with Health Care leading the way with a 1.74% decrease.

Top Movers: Under $10

Aclarion Inc (ACON) is up 63.19% today to trade at the current level of $0.47. This comes after the company announced that the Nociscan solution will be utilized in the upcoming LIFEHAB Trial in Norway.

Safe & Green Holdings Corp (SGBX) zoomed 70.02% in today’s trade to $0.25 after announcing that Safe and Green Holdings has entered into an agreement to manufacture four container based electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.

In current trading, SuperCom Ltd (SPCB) stock is at $0.28 following the receipt of over $5.0 million in new orders from European Governments.

OptiNose Inc (OPTN) rose 13.48% in the early hours of today's trading to move at $1.05. The company announced corporate updates detailing its commercial plans and expectations for XHANCE® (fluticasone propionate) following the recent FDA approval of a new indication for the treatment of chronic rhinosinusitis without nasal polyps in patients 18 year of age and older.

In the current trading session, Eyenovia Inc (EYEN) jumped 27.36% to $0.74 over a previous close of $0.58 after providing an update on its two FDA-approved products.

Ex-Dividends Stocks

ASML Holding NV (ASML) 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 $1.61 per share. It has fixed April 29 as the record date for the same and will pay the actual dividend on May 07. Last year, the company distributed a total of $6.54 to its shareholders. Based on the last year's worth of payments, ASML has a trailing yield of 0.73% on the current stock price of $892.34.

Another stock that is shelling out dividends tomorrow is Blackstone Inc (BX), having a market capitalization of $146.75B. It will pay a dividend of $0.83 per share, the payment date of which is May 06. Currently, the stock is trading at a trailing dividend yield of 1.30%.

Shares of Celanese Corp (CE) will be the talk of the stock market on Friday 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 $2.80 per share. Last year's total dividend payments show that CE has a trailing yield of 1.82% on the current share price of $153.85.

Tomorrow, Lakeland Bancorp, Inc. (LBAI) is also set to go ex-dividend tomorrow. The next dividend payment from LBAI will amount to $0.15 per share. April 29 has been designated as the record date for this dividend, with the actual payout scheduled for May 08. In the previous year, LBAI distributed a total of $0.58 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for LBAI stands at 4.70% based on the current stock price of $12.34.

Petroleo Brasileiro S.A. Petrobras ADR (PBR) will be paying out a dividend of $0.21 per share to shareholders holding their shares as of the close of the business hours on the record date of April 29. Over the past 12 months, PBR has paid out a total of $1.21 per share in dividends. Based on the total dividends paid out last year, PBR boasts an impressive trailing yield of 7.16% on the current share price of $16.85.

Crypto Market Highlights

• Turkey surpasses the US in stablecoin purchases relative to GDP, says Chainalysis report.

• SEC likely to reject spot Ether ETFs in May, per a new report.

• BNB Chain to introduce native liquid staking on BSC amid transition from BNB Beacon Chain.

• Nigeria's SEC hopeful with pro-crypto Director-General Appointment.

• European Parliament approves new regulations for crypto firms to combat money laundering.

• BlackRock iShares Bitcoin Trust records first day with $0 inflows since US Bitcoin ETF introduction.

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 76.55% 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 5.9. This represents a change of -40000 shares, which corresponds to a -0.10% decrease in short interest. The total value of the shares held short is estimated to be around $71.75 million. The average daily volume stands at 6.69M shares, and the market capitalization of the company is $320.25M.

The Biomea Fusion Inc with the symbol BMEA currently has a short interest of 49.86%. The short interest has changed by 580000 shares. The days to cover ratio stands at 13.3. The estimated value of the shares held short is approximately $145.25 million. On an average day, 1.05M shares are traded, with the company's market capitalization totaling $377.04M.

For the stock Aurora Cannabis Inc (ACB), the current short interest is at 52.55%. This represents a significant short interest change of 3060000 shares, corresponding to a short interest percentage increase of +60.24%. The days needed to cover the short positions amount to 1.4. The approximate worth of the shares held short is $55.76 million.

With the symbol PHAT, the stock currently has a short interest of 43.45%. The short interest change is 1380000 shares, compared with a short interest percentage change of +12.96%. It would take approximately 13.7 days to cover all the short positions. The shares short value is estimated to be around $72.53 million. The company boasts an average daily volume of 880.21K shares, contributing to a market capitalization of $521.35M.

The stock CUTR has a current short interest of 40.22%. The short interest percentage has experienced an increase of +3.48% while there was a change of 270000 shares in short interest. The ratio indicating the time required to cover short positions is 7.3. The calculated worth of the shorted shares amounts to around $23.94 million. Trading activity averages at 1.09M shares per day, while the company's market capitalization stands at $39.72M.

Biotech Stocks to Watch

According to our ST Score evaluation, Incyte Corp. (INCY) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 61.0. The stock's profitability, growth, and financial strength are strong. Additionally, it is neutral in terms of value, performance, stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Genmab ADR (GMAB) as a high-quality Biotech stock today, presenting a Score of 61.0. The stock has strong fundamentals in terms of profitability, growth, financial strength, and stock sentiment. However, it has weak value. The performance, Piotroski Score, and forecast are neutral.

Another stock in the category, Spero Therapeutics Inc (SPRO) has the ST Score of 58.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, and stock sentiment but weak in forecast. Performance, growth, financial strength, and piotroski score suggest a neutral outlook.

LENZ Therapeutics Inc. (GRPH) stock has the ST Score of 53.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its performance and financial strength. However, it shows a neutral outlook in value, profitability, growth, stock sentiment, Piotroski Score, and forecast.

Catalyst Pharmaceuticals Inc (CPRX) currently has the ST Score of 58.0, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, growth, and stock sentiment, while its weak points are its value. The stock's performance, financial strength, Piotroski Score, and forecast indicate a neutral outlook.

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