Dear Readers,

On November 6, 2023, US stocks are continuing their ascent following a robust start to the month of November.

As of 11:53 AM ET, the Dow was up 40.0078 points, or 0.1175%, at $34101.33. The Nasdaq Composite added 35.5381 points, or 0.2354%, at $15135.029. The S&P 500 rose 4.5703 points, or 0.1049%, at $4362.91. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Industrials leading the way with a -0.65% decrease.

The previous week witnessed a decline in bond yields, which boosted stock prices, and a lackluster jobs report on Friday bolstered the belief that the Federal Reserve might not need to implement further interest rate hikes.

While this week doesn't introduce much fresh economic data, it is set to feature a flurry of corporate earnings releases and several Federal Reserve officials delivering speeches, including Chairman Jerome Powell scheduled for Thursday.

Simultaneously, early on Monday, oil prices are on the rise, as both Russia and Saudi Arabia, two of the world's largest oil exporters, have affirmed their commitment to maintaining additional voluntary production cuts until the year's end.

Top Movers: Under $10

RiskOn International Inc (ROI) is up 17.29% today to trade at the current level of $0.81. This comes after the company reported that GuyCare, Inc. (“GuyCare”), its newly formed wholly-owned subsidiary, has set a goal to open an estimated 200 specialized men’s health clinics across the United States over the next five years.

Verb Technology Company Inc (VERB) zoomed 15.03% in today’s trade to $0.29 after announcing the completion of additional technology integrations, clearing the way to attract and add hundreds of new vendors and brands to its live stream shopping platform.

In current trading, OrganiGram Holdings Inc. (OGI) stock is at $1.48 after announcing a C$124.6 million follow-on strategic equity investment from BT DE Investments Inc.

Digital Brands Group Inc (DBGI) rose 17.74% in the early hours of today's trading to move at $5.11 after announcing that the Board of Directors has unanimously decided to initiate a formal review to explore strategic alternatives for the Company.

In the current trading session, Caribou Biosciences Inc (CRBU) jumped 11.73% to $4.67 over a previous close of $4.18. The company announced the appointment of Sundar Jagannath, MD, to its scientific advisory board.

Ex-Dividends Stocks

ArcBest Corp (ARCB) 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 $0.12 per share. The company has fixed November 08 as the record date for the same and will pay the actual dividend on November 22. Last year, the company distributed a total of $0.42 to its shareholders. Based on the last year's worth of payments, ARCB has a trailing yield of 0.35% on the current stock price of $118.01.

Another stock that is shelling out dividends tomorrow is Crown Holdings, Inc. (CCK), having a market capitalization of $9.95B. It will pay a dividend of $0.24 per share, the payment date of which is November 22. Currently, the stock is trading at a trailing dividend yield of 0.92%.

Shares of EQT Corp (EQT) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.16 per share, and in the last 12 months, the company paid a total of $0.59 per share. Last year's total dividend payments show that EQT has a trailing yield of 1.36% on the current share price of $43.36.

Southern Copper Corporation (SCCO) is also set to go ex-dividend tomorrow. The next dividend payment from SCCO will amount to $1 per share. November 08 has been designated as the record date for this dividend, with the actual payout scheduled for November 22. In the previous year, SCCO distributed a total of $3.65 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for SCCO stands at 4.90% based on the current stock price of $74.56.

Kenvue Inc (KVUE) 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 November 08. Over the past 12 months, KVUE has paid out a total of $0.38 per share in dividends. Based on the total dividends paid out last year, KVUE boasts an impressive trailing yield of 1.98% on the current share price of $19.35.

Crypto Market Highlights

Most Shorted Stocks

Sirius XM Holdings Inc (SIRI) was one of the most shorted stocks as of latest short interest figures, with 28.94% 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 11.0. This represents a change of 10880000 shares, which corresponds to a +6.41% increase in short interest. The total value of the shares held short is estimated to be around $877.18 million. The average daily volume stands at 15.08M shares, and the market capitalization of the company is $18.66B.

The Big Lots Inc with the symbol BIG currently has a short interest of 28.91%. The short interest has changed by -400000 shares. The days to cover ratio stands at 4.6. The estimated value of the shares held short is approximately $35.21 million. On an average day, 1.68M shares are traded, with the company's market capitalization totaling $130.77M.

For the stock Tupperware Brands Corporation (TUP), the current short interest is at 28.72%. This represents a significant short interest change of 3110000 shares, corresponding to a short interest percentage increase of +39.72%. The days needed to cover the short positions amount to 0.5. The approximate worth of the shares held short is $21.55 million.

The stock TPST has a current short interest of 28.52%. The short interest percentage has experienced increase of +7,200.00% while there was a change of 2160000 shares in short interest. The ratio indicating the time required to cover short positions is 0.3. The calculated worth of the shorted shares amounts to around $44.51 million. Trading activity averages at 9.10M shares per day, while the company's market capitalization stands at $40.26M.

Upcoming IPOs

Trident Digital Tech Holdings Ltd (TDTH) is all set for its debut on the NASDAQ exchange on November 08. They are offering shares in the price range of $8.00 to $10.00. With a total of 1,875,000 shares available, the company aims to raise approximately $16.88M through this IPO.

Shimmick Corporation (SHIM) will be entering the market with its IPO on November 08, on the NASDAQ exchange. They are offering shares in the price range of $10.00 to $12.00. They plan to offer 4,550,000 shares, targeting a deal size of $50.05M.

Globavend Holdings Limited (GVH) is also scheduled to make its debut on the NASDAQ exchange on November 08. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 1,875,000 shares, aiming for a deal size of $8.44M.

Hamilton Insurance Group, Ltd. (HG) is set to join the NYSE on November 10. They are offering shares in the price range of $16.00 to $18.00. They are offering 15,000,000 shares, with an estimated deal size of $255.00M.

For those eyeing the NASDAQ, Fenbo Holdings Limited (FEBO) is set to join the exchange on November 17. They are offering shares in the price range of $4.00 to $6.00. FEBO plans to offer 1,000,000 shares, with an estimated deal size of $5.00M.