Up Next: 5 Hot IPOs Ready to Skyrocket!

On Monday, the S&P 500 saw a slight increase in its value, while the yield on the 10-year Treasury note also climbed. This marked the beginning of the last trading week of September, characterized by significant losses in the market.

The yield on the 10-year Treasury note reached above 4.5%, trading at levels reminiscent of 2007 when it peaked at 4.57%. Currently, it stands at 4.527%, having risen by over 8 basis points.

In other news, Amazon's shares experienced a growth of over 1% following the company's announcement that it intends to invest up to $4 billion in the artificial intelligence firm Anthropic. Apple also recorded a nearly 1% increase in its stock value, while Nvidia's shares rose by more than 1%.

Additionally, investors maintained a close watch on the progress of a budget resolution in Washington. Over the weekend, lawmakers displayed limited signs of progress toward a deal that would secure funding for the U.S. government for the remainder of the fiscal year.

At 11:39 AM ET, the Dow was down -58.0508 points, or -0.1709%, at $33905.79. The Nasdaq Composite added 32.0605 points, or 0.2181%, at $14733.157. The S&P 500 rose 5.7397 points, or 0.1329%, at $4325.8. Among the 11 major S&P 500 sectors, 11 showed positive movement, with Energy leading the way with a 0.87% increase.

Top Movers: Under $10

TransCode Therapeutics Inc (RNAZ) is up 208.73% today to trade at the current level of $2.05. This comes after the company released positive pre-clinical Glioblastoma results with Lead Therapeutic Candidate, TTX-MC138.

Biophytis ADR (BPTS) zoomed 85.21% in today’s trade to $1.63 on the heels of the news regarding Biophytis and Skyepharma's partnership agreement for the production of Sarconeos (BIO101).

In current trading, ESS Tech Inc (GWH) stock is at $1.61 following the announcement of Honeywell's strategic collaboration and investment in ESS Tech, Inc. to advance iron flow battery (IFB) energy storage systems.

High Tide Inc. (HITI) rose 13.12% in the early hours of today's trading to move at $2.24. The company stands as the forefront community-driven cannabis enterprise, dedicated to unlocking the immense potential of this remarkable plant for the world.

In the current trading session, Cybin Inc (CYBN) jumped 7.05% to $0.59 over a previous close of $0.55. The company recently declared that that Doug Drysdale, CEO of Cybin, and George Tziras, Chief Executive Officer of Small Pharma Inc., will participate in a panel discussion titled "Emerging Therapeutic Candidates for Mental Health" at the Cantor Global Healthcare Conference, taking place September 26-28, 2023 in New York City, NY.

Ex-Dividends Stocks

Calavo Growers Inc (CVGW) 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 $0.1 per share. The company has fixed September 27 as the record date for the same and will pay the actual dividend on October 11.

Another stock that is shelling out dividends tomorrow is Ituran Location And Control Ltd. (ITRN), having a market capitalization of $618.82M. It will pay a dividend of $0.15 per share, the payment date of which is October 11. Currently, the stock is trading at a trailing dividend yield of 1.91%.

Shares of Prospect Capital Corporation (PSEC) will be the talk of stock market on Tuesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.06 per share, and in the last 12 months, the company paid a total of $0.72 per share. Last year's total dividend payments show that PSEC has a trailing yield of 11.74% on the current share price of $6.13.

Mercer International Inc. (MERC) is also set to go ex-dividend tomorrow. The next dividend payment from MERC will amount to $0.08 per share. September 27 has been designated as the record date for this dividend, with the actual payout scheduled for October 04. In the previous year, MERC distributed a total of $0.31 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for MERC stands at 3.73% based on the current stock price of $8.32.

Ecopetrol SA ADR (EC) will be paying out a dividend of $0.83 per share to shareholders holding their shares as of the close of the business hours on the record date of September 27. Over the past 12 months, EC has paid out a total of $2.05 per share in dividends. Based on the total dividends paid out last year, EC boasts an impressive trailing yield of 16.17% on the current share price of $12.69.

Crypto Market Highlights

Most Shorted Stocks

Novavax Inc. (NVAX) was one of the most shorted stocks as of latest short interest figures, with 42.47% 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 4.7. This represents a change of 290000 shares, which corresponds to a +0.73% increase in short interest. The total value of the shares held short is estimated to be around $282.63 million. The average daily volume stands at 9.12M shares, and the market capitalization of the company is $665.05M.

The Axcella Health Inc with the symbol AXLA currently has a short interest of 37.26%. The short interest has changed by 8650000 shares. The days to cover ratio stands at 0.6. The estimated value of the shares held short is approximately $88.0 million. On an average day, 827.61K shares are traded, with the company's market capitalization totaling $26.20M.

For the stock Edible Garden AG Inc (EDBL), the current short interest is at 39.33%. This represents a significant short interest change of -193700 shares, corresponding to a short interest percentage decrease of -17.45%. The days needed to cover the short positions amount to 0.4. The approximate worth of the shares held short is $0.69 million.

The stock PROK has a current short interest of 37.01%. The short interest percentage has experienced decrease of -2.35% while there was a change of -150000 shares in short interest. The ratio indicating the time required to cover short positions is 16.4. The calculated worth of the shorted shares amounts to around $25.56 million. Trading activity averages at 444.05K shares per day, while the company's market capitalization stands at $288.86M.

Upcoming IPOs

Lead Real Estate Co., Ltd (LRE) is all set for its debut on the NASDAQ exchange on September 27. They are offering shares in the price range of $7.00 to $9.00. With a total of 1,143,000 shares available, the company aims to raise approximately $9.14M through this IPO.

VS MEDIA Holdings Limited (VSME) will be entering the market with its IPO on September 27, on the NASDAQ exchange. The shares will be offered at a fixed price of $5.00 per share. They plan to offer 2,000,000 shares, targeting a deal size of $10.00M.

Northann Corp. (NCL) is also scheduled to make its debut on the NYSEAMERICAN exchange on September 27. They are offering shares in the price range of $3.00 to $5.00. The IPO includes 3,000,000 shares, aiming for a deal size of $12.00M.

Primech Holdings Ltd. (PMEC) is set to join the NASDAQ on September 28. They are offering shares in the price range of $4.00 to $5.00. They are offering 3,050,000 shares, with an estimated deal size of $13.73M.

WeBuy Global Ltd (WBUY) will be capturing investors' attention as they hit the NASDAQ exchange on September 29. They are offering shares in the price range of $4.00 to $4.50. A total of 3,500,000 shares will be available, with the deal size projected to reach $14.88M.