Noon Momentum: AI Power Stocks & Must-Watch $10 Gems

Stocks surged on Wednesday, with major indexes reaching record highs, as Donald Trump secured victory in the 2024 presidential election. Investments poised to benefit under Trump’s presidency soared, including Tesla, which surged 13% as CEO Elon Musk, a known Trump supporter, fueled investor optimism. Bank stocks also rallied, with JPMorgan Chase rising 10% and Wells Fargo jumping 13%.

At 11:41 AM ET, the Dow was up 1358.293 points, or 3.2172%, at $43580.17. The Nasdaq Composite added 412.55 points, or 2.0396%, at $20640.0098. The S&P 500 rose 119.3804 points, or 2.0644%, at $5902.14. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Financials leading the way with a 2.72% increase.

Bitcoin hit an all-time high of $75,000, bolstered by expectations of relaxed regulations. The dollar index rose to its highest level since July on speculation that Trump’s proposed tariffs on major U.S. trading partners would strengthen the currency. The 10-year Treasury yield climbed to about 4.45%, driven by anticipation that Trump’s tax cuts and increased spending plans would stimulate economic growth but could also widen the fiscal deficit and rekindle inflation.

Shares of Trump Media & Technology Group, a social media company closely associated with Trump, were up 4.5% in volatile trading.

Top Movers: Under $10

Sonnet BioTherapeutics Holdings Inc (SONN) is up 88.51% today to trade at the current level of $7.94. This comes after the company announced the issuance of a U.S. patent covering a Variant IL-18 Incorporated into Two Novel Immunotherapeutic Drug Candidates.

ARB IOT Group Ltd (ARBB) zoomed 87.78% in today’s trade to $1.06 after signing of a Memorandum of Understanding between its indirect wholly owned subsidiary, ARBIOT Sdn Bhd, with ASUSTeK Computer Inc. and ServerSphere to collaborate on global artificial intelligence (AI) server solutions.

In current trading, Cytek BioSciences Inc (CTKB) stock is at $7.05 following the reports of third quarter 2024 financial results.

FREYR Battery Inc (FREY) rose 30.95% in the early hours of today's trading to move at $1.38 after reporting financial results for the third quarter of 2024.

In the current trading session, Super Group (SGHC) Limited (SGHC) jumped 15.51% to $4.84 over a previous close of $4.19. The company announced third quarter 2024 unaudited consolidated financial results.

Ex-Dividends Stocks

Firstenergy Corp (FE) 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 $0.42 per share. It has fixed November 07 as the record date for the same and will pay the actual dividend on December 01. Last year, the company distributed a total of $1.67 to its shareholders. Based on the last year's worth of payments, FE has a trailing yield of 4.00% on the current stock price of $41.74.

Shares of Ford Motor Co (F) will be the talk of the stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.15 per share, and in the last 12 months, it paid a total of $0.60 per share. Last year's total dividend payments show that F has a trailing yield of 5.42% on the current share price of $11.03.

Paychex Inc (PAYX) is also set to go ex-dividend tomorrow. The next dividend payment from PAYX will amount to $0.98 per share. November 07 has been designated as the record date for this dividend, with the actual payout scheduled for November 27. In the previous year, PAYX distributed a total of $3.74 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PAYX stands at 2.57% based on the current stock price of $145.44.

Atlas Energy Solutions Inc (AESI) will be paying out a dividend of $0.24 per share to shareholders holding their shares as of the close of the business hours on the record date of November 07. Over the past 12 months, AESI has paid out a total of $0.76 per share in dividends. Based on the total dividends paid out last year, AESI boasts an impressive trailing yield of 3.56% on the current share price of $21.34.

Crypto Market Highlights

• The crypto community celebrates Donald Trump's victory in the 2024 U.S. presidential election, as officials finalize results.

• SingularityNET and the ASI Alliance launched the first self-learning proto-AGI within Minecraft.

• The Republican Party gains majority control of the U.S. Senate, offering a positive outlook for cryptocurrency regulations.

• Coinbase's chief legal officer, Paul Grewal, calls on the U.S. SEC to revise its crypto approach following Trump's re-election.

• Hundreds of pro-crypto candidates are elected in the 2024 U.S. elections, with results still being counted nationwide.

Most Shorted Stocks

Beyond Meat Inc (BYND) was one of the most shorted stocks as of the latest short interest figures, with 42.93% 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 9.6. This represents a change of 1380000 shares, which corresponds to a +5.57% increase in short interest. The total value of the shares held short is estimated to be around $162.13 million. The average daily volume stands at 2.70M shares, and the market capitalization of the company is $402.91M.

The Faraday Future Intelligent Electric Inc with the symbol FFIE currently has a short interest of 41.88%. The short interest has changed by 350000 shares. The days to cover ratio stands at 0.5. The estimated value of the shares held short is approximately $8.83 million. On an average day, 10.93M shares are traded, with the company's market capitalization totaling $62.26M.

For the stock Arbor Realty Trust Inc (ABR), the current short interest is at 31.67%. This represents a significant short interest change of -1380000 shares, corresponding to a short interest percentage decrease of -2.26%. The days needed to cover the short positions amount to 22.1. The approximate worth of the shares held short is $885.05 million.

With the symbol WOLF, the stock currently has a short interest of 29.76%. The short interest change is -1680000 shares, compared with a short interest percentage change of -4.31%. It would take approximately 3.4 days to cover all the short positions. The shares short value is estimated to be around $779.94 million. The company boasts an average daily volume of 11.23M shares, contributing to a market capitalization of $1.66B.

The stock MARA has a current short interest of 26.36%. The short interest percentage has experienced an increase of +2.48% while there was a change of 1880000 shares in short interest. The ratio indicating the time required to cover short positions is 2.2. The calculated worth of the shorted shares amounts to around $686.31 million. Trading activity averages at 36.24M shares per day, while the company's market capitalization stands at $5.42B.

AI Stocks to Watch

According to our ST Score evaluation, Arista Networks Inc (ANET) emerges as a high-quality stock in the AI industry, attaining an impressive score of 64. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies Digital Realty Trust Inc (DLR) as a high-quality AI stock today, presenting a Score of 57. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. The growth, financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, Taiwan Semiconductor Manufacturing ADR (TSM) has the ST Score of 63, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, growth, and Piotroski Score. Financial strength, stock sentiment, and forecast suggest a neutral outlook.

Palantir Technologies Inc (PLTR) stock has the ST Score of 62 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, financial strength, and Piotroski Score. However, it shows a neutral outlook in growth, stock sentiment, and forecast.

Zoom Video Communications Inc (ZM) currently has the ST Score of 62, which signifies a huge upward potential. The AI stock's strong points are its profitability, performance, financial strength, and Piotroski Score, while its weak points are its growth. The stock's stock sentiment and forecast indicate a neutral outlook.