Midday Spotlight: Upcoming IPOs & $10 Stocks Ready to Surge

Stocks dropped on Monday as the selling pressures that weighed on Wall Street last week persisted. Investors are concerned about an economic slowdown after President Donald Trump did not rule out a recession amid the implementation of U.S. tariffs.

As of 11:23 AM ET, the Dow was down -342.73 points, or -0.80074%, at $42458.99. The Nasdaq Composite lost -614.215 points, or -3.04046%, at $19587.158. The S&P 500 declined -111.2 points, or -1.92714%, at $5659. Among the 11 major S&P 500 sectors, 7 showed negative movement, with Information Technology leading the way with a 2.41% decrease.

Last week, the S&P 500 lost 3.1%, marking its worst weekly performance since September. The Dow fell 2.4%, while the Nasdaq shed 3.5%. Over the past month, the S&P 500 and Nasdaq are down 6% and 9%, respectively, while the Dow is down 4.5%.

The turbulence could continue this week, with a heavy dose of economic data adding to the mix of potential market-moving events. On the inflation front, the February Consumer Price Index (CPI) is set to be released on Wednesday, followed by the Producer Price Index (PPI) on Thursday. Stovall remains optimistic heading into both of these readings.

Top Movers: Under $10

Redfin Corp (RDFN) is up 73.00% today to trade at the current level of $10.07. This comes after Rocket Companies announced plans to acquire Redfin (RDFN) to expand its mortgage strategy.

Checkpoint Therapeutics Inc (CKPT) zoomed 64.02% in today’s trade to $4.05 after announcing an agreement with Sun Pharmaceutical Industries Limited by which Sun Pharma will acquire Checkpoint.

In current trading, Trevi Therapeutics Inc (TRVI) stock is at $5.92 after announcing positive topline results from its Phase 2a RIVER trial of Haduvio for the treatment of patients with RCC (N=66).

SciSparc Ltd (SPRC) rose 16.93% in the early hours of today's trading to move at $0.37. The company announced that its collaboration with Clearmind Medicine Inc. (CMND) has led to the publication of a patent application by the South Korean Intellectual Property Office.

In the current trading session, Veren Inc (VRN) jumped 17.08% to $5.75 over a previous close of $4.91. Whitecap Resources Inc. (WCP) and Veren Inc. (VRN) announced a strategic combination to create a leading light oil and condensate producer with concentrated assets in the Alberta Montney and Duvernay.

Ex-Dividends Stocks

Bloomin Brands Inc (BLMN) 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 $0.15 per share. It has fixed March 11 as the record date for the same and will pay the actual dividend on March 26. Last year, the company distributed a total of $0.96 to its shareholders. Based on last year's worth of payments, BLMN has a trailing yield of 10.16% on the current stock price of $9.44.

Shares of Ameren Corp (AEE) will be the talk of the stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.71 per share, and in the last 12 months, it paid a total of $2.68 per share. Last year's total dividend payments show that AEE has a trailing yield of 2.71% on the current share price of $98.90.

Tomorrow, Chord Energy Corp (CHRD) is also set to go ex-dividend tomorrow. The next dividend payment from CHRD will amount to $1.3 per share. March 11 has been designated as the record date for this dividend, with the actual payout scheduled for March 26. In the previous year, CHRD distributed a total of $4.96 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for CHRD stands at 4.80% based on the current stock price of $103.46.

Genpact Ltd (G) will be paying out a dividend of $0.17 per share to shareholders holding their shares as of the close of the business hours on the record date of March 11. Over the past 12 months, G has paid out a total of $0.61 per share in dividends. Based on the total dividends paid out last year, G boasts an impressive trailing yield of 1.19% on the current share price of $51.37.

Crypto Market Highlights

• US Treasury Secretary Scott Bessent announces that stablecoin adoption will help maintain the US dollar's global dominance, potentially benefiting Bitcoin as a national reserve asset. 

• Michael Saylor’s strategy to raise up to $21 billion for purchasing more Bitcoin, as the world’s largest public corporate Bitcoin holder plans further expansion.

• Singapore Exchange (SGX) to launch Bitcoin perpetual futures in the second half of 2025.

• Cryptocurrency companies spent over $134 million on the 2024 US elections, raising concerns about their increasing political influence and regulatory stability, as reported by the Center for Political Accountability (CPA).

• Binance introduces a community co-governance structure, enabling users to vote on token listings and delistings on the platform.

Most Shorted Stocks

Opko Health Inc (OPK) was one of the most shorted stocks as of latest short interest figures, with 28.72% 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 26.5. This represents a change of -10000 shares, which corresponds to a -0.01% decrease in short interest. The total value of the shares held short is estimated to be around $168.4 million. The average daily volume stands at 4.81M shares, and the market capitalization of the company is $1.28B.

The Applied Digital Corporation with the symbol APLD currently has a short interest of 32.85%. The short interest has changed by -1040000 shares. The days to cover ratio stands at 2.3. The estimated value of the shares held short is approximately $348.14 million. On an average day, 25.27M shares are traded, with the company's market capitalization totaling $1.46B.

For the stock Arbor Realty Trust Inc (ABR), the current short interest is at 31.83%. This represents a significant short interest change of -760000 shares, corresponding to a short interest percentage decrease of -1.30%. The days needed to cover the short positions amount to 20.9. The approximate worth of the shares held short is $730.84 million.

With the symbol SAVA, the stock currently has a short interest of 36.41%. The short interest change is 90000 shares, compared with a short interest percentage change of +0.57%. It would take approximately 3.0 days to cover all the short positions. The shares short value is estimated to be around $153.8 million. The company boasts an average daily volume of 2.35M shares, contributing to a market capitalization of $128.75M.

The stock LMND has a current short interest of 32.59%. The short interest percentage has experienced an increase of +7.08% while there was a change of 1140000 shares in short interest. The ratio indicating the time required to cover short positions is 6.9. The calculated worth of the shorted shares amounts to around $526.5 million. Trading activity averages at 2.33M shares per day, while the company's market capitalization stands at $2.41B.

Upcoming IPOs

RedCloud Holdings plc (RCT) is all set for its debut on the NASDAQ exchange on March 11. They are offering shares in the price range of $4.00 to $6.00. With a total of 4,400,000 shares available, the company aims to raise approximately $22.00M through this IPO.

OMS Energy Technologies Inc. (OMSE) will be entering the market with its IPO on March 14, on the NASDAQ exchange. They are offering shares in the price range of $8.00 to $10.00. They plan to offer 5,555,556 shares, targeting a deal size of $50.00M.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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