Dear Readers,

The Nasdaq Composite reached a new high on Tuesday, driven by Nvidia's rise, which provided upward momentum for the tech-heavy index during an otherwise subdued trading session.

At 10:49 AM ET, the Dow was down -116.8984 points, or -0.2992%, at $38952.69. The Nasdaq Composite added 42.5156 points, or 0.226%, at $18850.863. The S&P 500 rose 4.78 points, or 0.0901%, at $5309.49. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Utilities leading the way with a -1.64% decrease.

These movements occurred near the end of a strong month, with all three major indexes hitting fresh record levels in May. Softer inflation data earlier in the month and better-than-expected quarterly earnings reports boosted sentiment, with the former suggesting that Federal Reserve rate cuts could come sooner than investors had anticipated. The Dow has increased by around 3%, while the S&P 500 and Nasdaq have climbed more than 5% and 8%, respectively.

Looking ahead, investors are preparing for the April personal income and expenditures report, which includes the PCE inflation reading, due out on Friday.

Top Movers: Under $10

Sharps Technology Inc (STSS) is up 180.00% today to trade at the current level of $0.60. The rally comes as the company reportedly signed a potential five-year purchase agreement with Nephron.

Pineapple Energy Inc (PEGY) zoomed 74.06% in today’s trade to $0.31. This rally can be attributed to news that Pineapple Energy’s New York-based subsidiary SUNation signed a 1.95-megawatt project. SUNation will begin work on this large-scale commercial installation in early July.

In current trading, Predictive Oncology Inc (POAI) stock is at $2.33 as the company announced the presentation of positive results from a recent retrospective study, conducted in collaboration with UPMC Magee-Womens Hospital, at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting.

Visionary Holdings Inc. (GV) rose 49.14% in the early hours of today's trading to move at $0.30. The strong performance of GV stock came as investors were encouraged by the news that the Company has successfully transformed into a high-innovation and high growth company.

In the current trading session, Onfolio Holdings Inc (ONFO) jumped 23.47% to $1.21 over a previous close of $0.98 as Company recently announced upbeat financial results for the first quarter ended March 31st, 2024.

Ex-Dividends Stocks

S&P Global Inc (SPGI) 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 $0.91 per share. The company has fixed May 29 as the record date for the same and will pay the actual dividend on June 12. Last year, the company distributed a total of $2.71 to its shareholders. Based on the last years’ worth of payments, SPGI has a trailing yield of 0.62% on the current stock price of $435.03.

Another stock that is shelling out dividends tomorrow is RB Global Inc (RBA), having a market capitalization of $14.02B. It will pay a dividend of $0.27 per share, the payment date of which is June 20. Currently, the stock is trading at a trailing dividend yield of 1.42%.

Shares of Prospect Capital Corp (PSEC) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.06 per share, and in the last 12 months, the company paid a total of $0.66 per share. Last year's total dividend payments show that PSEC has a trailing yield of 11.56% on the current share price of $5.71.

Tomorrow, Loews Corp. (L) is also set to go ex-dividend tomorrow. The next dividend payment from L will amount to $0.06 per share. May 29 has been designated as the record date for this dividend, with the actual payout scheduled for June 11. In the previous year, L distributed a total of $0.19 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for L stands at 0.25% based on the current stock price of $74.40.

J.Jill Inc (JILL) will be paying out a dividend of $0.07 per share to shareholders holding their shares as of the close of the business hours on the record date of May 29.

Crypto Market Highlights

• Argentina’s National Securities Commission (CNV) is collaborating with El Salvador’s National Commission of Digital Assets (CNAD) to explore insights into Bitcoin adoption and crypto regulation.

• The Trump campaign recently announced that it will begin accepting cryptocurrency donations, positioning this move as a show of solidarity with opponents of “socialistic government control” over U.S. financial markets.

• Kabosu, the Japanese dog famously known online for being the face of the cryptocurrency Dogecoin, has passed away. Owner Atsuko Sato announced the death of the beloved 18-year-old Shiba Inu in a tribute post on her blog on Friday morning.

• The Hong Kong-based cryptocurrency exchange Gate.HK has ceased operations due to regulatory pressure. Additionally, global exchange OKX also announced its departure from Hong Kong, ceasing centralized virtual asset trading services for residents by May 31, 2024.

• The U.S. Securities and Exchange Commission (SEC) approved 19b-4 forms filed by issuers for a spot ether exchange-traded fund (ETF), a significant step toward making ether ETFs available in the U.S. However, the ETFs are not yet cleared for trading, pending approval of their S-1 filings.

Most Shorted Stocks

Sunpower Corp (SPWR) was one of the most shorted stocks as of latest short interest figures, with 95.11% 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 7.0 Days to Cover. This represents a change of 3180000 shares, which corresponds to a +8.11% increase in short interest. The total value of the shares held short is estimated to be around $130.99 million. The average daily volume stands at 9.28M shares, and the market capitalization of the company is $541.57M.

The MicroCloud Hologram Inc with the symbol HOLO currently has a short interest of 75.14%. The short interest has changed by 583600 shares. The days to cover ratio stands at 0.1 Days to Cover. The estimated value of the shares held short is approximately $2.22 million. On an average day, 11.07M shares are traded, with the company's market capitalization totaling $9.68M.

For the stock Childrens Place Inc (PLCE), the current short interest is at 68.93%. This represents a significant short interest change of 210000 shares, corresponding to a short interest percentage increase of +6.69%. The days needed to cover the short positions amount to 2.0 Days to Cover. The approximate worth of the shares held short is $43.45 million.

With the symbol RILY, the stock currently has a short interest of 56.40%. The short interest change is -1600000 shares, compared with a short interest percentage change of -15.05%. It would take approximately 5.8 Days to Cover days to cover all the short positions. The shares short value is estimated to be around $100.6 million. The company boasts an average daily volume of 1.45M shares, contributing to a market capitalization of $910.06M.

The stock BMEA has a current short interest of 50.32%. The short interest percentage has experienced increase of +1.09% while there was a change of 150000 shares in short interest. The ratio indicating the time required to cover short positions is 14.0 Days to Cover. The calculated worth of the shorted shares amounts to around $104.03 million. Trading activity averages at 997.98K shares per day, while the company's market capitalization stands at $414.03M.

EV Stocks to Watch

According to our ST Score evaluation, EPAM Systems Inc (EPAM) emerges as a high-quality stock in the EV industry, attaining an impressive score of 60.0. The stock's profitability, financial strength, and stock sentiment are strong. However, its forecast are weak. Additionally, it is neutral in terms of value, performance, growth, and Piotroski Score.

Our ST Score also classifies Audiocodes (AUDC) as a high-quality EV stock today, presenting a Score of 54.0. The stock has strong fundamentals in terms of profitability, stock sentiment, and Piotroski Score. However, it has weak value, and growth. The performance, financial strength, and forecast are neutral.

Another stock in the category, Sprinklr Inc (CXM) has the ST Score of 55.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, and financial strength. Value, performance, growth, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Palantir Technologies Inc (PLTR) stock has the ST Score of 59.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, financial strength, and Piotroski Score, but its weaknesses are in its value. However, it shows neutral outlook in performance, growth, stock sentiment, and forecast.

Alphabet Inc (GOOGL) currently has the ST Score of 57.0, which signifies a huge upward potential. The EV stock's strong points are its profitability, and Piotroski Score, while its weak points are its value. The stock's performance, growth, financial strength, stock sentiment, and forecast indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team