Midday Report: Prominent Energy & $10 Picks

On Friday, the US stock market saw a decline driven by a second consecutive day of losses in Nvidia, a key indicator for the market. Nvidia's shares were down 2%. Just the previous day, the stock had reached its highest-ever price before ending more than 3% lower. Despite these recent dips, the chipmaker has surged nearly 150% year-to-date and briefly surpassed Microsoft as the most valuable public company on Tuesday.

As of 11:48 AM ET, the Dow was down -34.51 points, or -0.0882%, at $39100.26. The Nasdaq Composite lost -36.89 points, or -0.19%, at $19715.4099. The S&P 500 declined -2 points, or -0.0365%, at $5471.16. Among the 11 major S&P 500 sectors, 10 showed negative movement, with Utilities leading the way with a -0.88% decrease.

The broader market trends showed mixed results: the S&P 500 retreated after reaching an intraday peak of 5,505.53 but was still on track for a weekly gain of 0.8%. The Nasdaq was also poised for a weekly increase of 0.4%, while the Dow Jones Industrial Average led with a weekly rise of 1.3%.

Friday’s trading was expected to be more volatile due to "triple witching," involving the expiration of stock options, stock index options, and stock index futures options.

Top Movers: Under $10

American Rebel Holdings Inc (AREB) is up 140.80% today to trade at the current level of $0.72. This comes after the company announced a distribution agreement with Dichello Distributors (www.dichello.com) for the state of Connecticut.

Nexalin Technology Inc (NXL) zoomed 109.40% in today’s trade to $2.30. This rally can be attributed to news that the United States Patent and Trademark Office (USPTO) has awarded U.S. Patent No 12,011,591 relating to the Company’s non-invasive Deep Intracranial Frequency Stimulation (DIFS®) medical device for the treatment of Alzheimer’s and other dementia-related brain diseases.

In current trading, Sharecare Inc (SHCR) stock is at $1.38 following the announcement from the company that it has entered into a definitive agreement to be acquired by an affiliate of Altaris, LLC, an investment firm exclusively focused on the healthcare industry.

Clearmind Medicine Inc (CMND) rose 19.53% in the early hours of today's trading to move at $1.53.The company recently announced that it signed an exclusive patent licensing agreement with Yissum Research Development Company of the Hebrew University of Jerusalem.

In the current trading session, NewGenIvf Group Ltd (NIVF) jumped 24.38% to $1.05 over a previous close of $0.84 after announcing that it is continuing to actively evaluate the terms of the proposed reverse merger with COVIRIX Medical Pty Ltd.

Ex-Dividends Stocks

Broadcom Inc (AVGO) is about to trade ex-dividend Monday, 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 $5.25 per share. It has fixed June 24 as the record date for the same and will pay the actual dividend on June 28. Last year, the company distributed a total of $19.70 to its shareholders. Based on the last year's worth of payments, AVGO has a trailing yield of 1.16% on the current stock price of $1694.06.

Another stock that is shelling out dividends on Monday is Dynex Capital, Inc. (DX), having a market capitalization of $894.65M. It will pay a dividend of $0.13 per share, the payment date of which is July 01. Currently, the stock is trading at a trailing dividend yield of 9.56%.

Shares of Fedex Corp (FDX) will be the talk of the stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $1.38 per share, and in the last 12 months, it paid a total of $3.78 per share. Last year's total dividend payments show that FDX has a trailing yield of 1.48% on the current share price of $254.76.

Johnson Controls International plc (JCI) is also set to go ex-dividend on Monday. The next dividend payment from JCI will amount to $0.37 per share. June 24 has been designated as the record date for this dividend, with the actual payout scheduled for July 19. In the previous year, JCI distributed a total of $1.11 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for JCI stands at 1.62% based on the current stock price of $68.39.

Crypto Market Highlights

• The Nigerian Securities and Exchange Commission (SEC) has amended its rules on Digital Asset Issuance, Offering Platforms, Exchange, and Custody.

• The Fantom Foundation has committed financially to support the launch of Sonic, a new ultra-fast network.

• Marathon Digital Holdings has started a pilot project that uses recycled heat from Bitcoin mining to warm over 11,000 homes.

• Binance has successfully integrated Tether’s USDT token on The Open Network (TON), allowing deposits and withdrawals as of June 21.

• U.S. federal court judge has allowed a civil securities lawsuit against Ripple Labs to proceed, rejecting its summary judgment bid in a case alleging its CEO violated California securities laws.

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Most Shorted Stocks

Plug Power Inc (PLUG) was one of the most shorted stocks as of the latest short interest figures, with 24.93% 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 5.5. This represents a change of -7190000 shares, which corresponds to a -3.74% decrease in short interest. The total value of the shares held short is estimated to be around $462.73 million. The average daily volume stands at 32.78M shares, and the market capitalization of the company is $1.86B.

The Anavex Life Sciences Corporation with the symbol AVXL currently has a short interest of 25.78%. The short interest has changed by -40000 shares. The days to cover ratio stands at 17.6. The estimated value of the shares held short is approximately $91.43 million. On an average day, 1.13M shares are traded, with the company's market capitalization totaling $354.64M.

For the stock Virgin Galactic Holdings Inc (SPCE), the current short interest is at 508.02%. This represents a significant short interest change of -430000 shares, corresponding to a short interest percentage decrease of -0.41%. The days needed to cover the short positions amount to 4.8. The approximate worth of the shares held short is $989.62 million.

With the symbol SAVA, the stock currently has a short interest of 25.93%. The short interest change is -360000 shares, compared with a short interest percentage change of -2.81%. It would take approximately 15.0 days to cover all the short positions. The shares short value is estimated to be around $2.06 billion. The company boasts an average daily volume of 796.42K shares, contributing to a market capitalization of $947.77M.

The stock MARA has a current short interest of 22.00%. The short interest percentage has experienced a decrease of -10.22% while there was a change of -7080000 shares in short interest. The ratio indicating the time required to cover short positions is 1.3. The calculated worth of the shorted shares amounts to around $240.84 million. Trading activity averages at 46.54M shares per day, while the company's market capitalization stands at $5.28B.

Energy Stocks to Watch

According to our ST Score evaluation, Dorian LPG Ltd (LPG) emerges as a high-quality stock in the Energy industry, attaining an impressive score of 64.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. However, its forecast is weak. Additionally, it is neutral in terms of performance, growth, and stock sentiment.

Our ST Score also classifies Tenaris S.A. ADR (TS) as a high-quality Energy stock today, presenting a Score of 62.0. The stock has strong fundamentals in terms of profitability, financial strength, stock sentiment, and Piotroski Score. However, it has weak growth. The value, performance, and forecast are neutral.

Another stock in the category, Teekay Tankers Ltd (TNK) has the ST Score of 59.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, profitability, and financial strength but weak in growth. Performance, stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Mexco Energy Corp (MXC) stock has the ST Score of 58.0 which implies that the Energy company has a high probability of beating the market. The stock's strengths lie in its profitability, financial strength, and Piotroski Score. However, it shows a neutral outlook in value, performance, growth, stock sentiment, and forecast.

International Seaways Inc (INSW) currently has the ST Score of 62.0, which signifies a huge upward potential. The Energy stock's strong points are its valuation, profitability, financial strength, stock sentiment, and Piotroski Score, while its weak points are its growth, and forecast. The stock's performance indicate a neutral outlook.

Best Regards,
Stocks Telegraph Team