Penny for Your Stocks? Top Performers Under $10!

The S&P 500 experienced a notable decline on Tuesday, marking its lowest point in months. This downturn was triggered by concerning reports on home sales and consumer confidence, which raised doubts about the state of the U.S. economy.

In August, new home sales fell short of expectations, with 675,000 homes under contract, marking an 8.7% drop from July, according to the Commerce Department. Economists surveyed by Dow Jones had anticipated 695,000 sales, reflecting a 2.7% decline from the unrevised July figures.

Furthermore, the Conference Board's consumer confidence index for September dipped to 103, down from August's 108.7. This decline was unexpected, as economists had projected a figure of 105.5, according to Dow Jones consensus estimates. The expectations index also took a hit, plummeting to 73.7, falling below the level typically associated with recessions.

As of 11:37 AM ET, the Dow was down -310.5391 points, or -0.9132%, at $33696.34. The Nasdaq Composite lost -179.9531 points, or -1.2185%, at $14588.942. The S&P 500 declined -49.48 points, or -1.1408%, at $4287.96. Among the 11 major S&P 500 sectors, 10 showed negative movement, with Utilities leading the way with a -0.9% decrease.

These developments compounded the market's losses for the month, with the Nasdaq Composite experiencing a more than 6% drop in September. The S&P 500 and Dow Jones also recorded losses of over 4% and 2%, respectively.

One of the contributing factors to this decline has been the Federal Reserve's warning of fewer rate cuts in the coming year, which pushed the benchmark 10-year Treasury yield to levels not seen since 2007.

Additionally, investors are closely monitoring negotiations in Washington as lawmakers work to avert a government shutdown, potentially occurring as early as October 1 if a spending bill agreement is not reached in Congress.

Top Movers: Under $10

Acasti Pharma Inc (ACST) is up 33.15% today to trade at the current level of $2.37. This comes after the company announced $7.5 million private placement equity financing.

Bullfrog AI Holdings Inc (BFRG) zoomed 24.39% in today’s trade to $3.57 after releasing positive data in a preclinical study investigating the anti-cancer activity of a novel prodrug of mebendazole for the treatment of glioblastoma.

In current trading, Cano Health Inc (CANO) stock is at $0.32 following announcemen from the company that it sold substantially all of the assets associated with the operation of Cano Health's senior-focused primary care centers in Texas and Nevada to CenterWell Senior Primary Care.

Fisker Inc (FSR) rose 20.09% in the early hours of today's trading to move at $6.38. The company announced that it has built 5,000 Fisker Ocean SUVs and expects to ramp deliveries of the Ocean to 300 vehicle per day later this year.

In the current trading session, LifeMD Inc (LFMD) jumped 12.42% to $5.43 over a previous close of $4.83 after declaring quarterly dividend on series a cumulative perpetual preferred stock.

Ex-Dividends Stocks

Algonquin Power & Utilities Corp (AQN) 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 $0.11 per share. The company has fixed September 28 as the record date for the same and will pay the actual dividend on October 13. Last year, the company distributed a total of $0.45 to its shareholders. Based on the last year's worth of payments, AQN has a trailing yield of 6.57% on the current stock price of $6.78.

Another stock that is shelling out dividends tomorrow is Conoco Phillips (COP), having a market capitalization of $144.51B. It will pay a dividend of $0.6 per share, the payment date of which is October 16. Currently, the stock is trading at a trailing dividend yield of 2.85%.

Shares of Getty Realty Corp. (GTY) will be the talk of stock market on Wednesday as the stock will turn ex-dividend. The company's next dividend payment will be $0.43 per share, and in the last 12 months, the company paid a total of $1.72 per share. Last year's total dividend payments show that GTY has a trailing yield of 6.10% on the current share price of $28.15.

Northern Oil and Gas Inc. (NOG) is also set to go ex-dividend tomorrow. The next dividend payment from NOG will amount to $0.38 per share. September 28 has been designated as the record date for this dividend, with the actual payout scheduled for October 31. In the previous year, NOG distributed a total of $1.42 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for NOG stands at 3.56% based on the current stock price of $39.88.

Ameris Bancorp (ABCB) will be paying out a dividend of $0.15 per share to shareholders holding their shares as of the close of the business hours on the record date of September 30. Over the past 12 months, ABCB has paid out a total of $0.61 per share in dividends. Based on the total dividends paid out last year, ABCB boasts an impressive trailing yield of 1.61% on the current share price of $37.82.

Crypto Market Highlights

Most Shorted Stocks

Sprouts Farmers Market Inc (SFM) was one of the most shorted stocks as of latest short interest figures, with 18.27% 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 12.4. This represents a change of -240000 shares, which corresponds to a -1.28% decrease in short interest. The total value of the shares held short is estimated to be around $774.46 million. The average daily volume stands at 1.41M shares, and the market capitalization of the company is $4.27B.

The Rhythm Pharmaceuticals Inc. with the symbol RYTM currently has a short interest of 21.34%. The short interest has changed by -310000 shares. The days to cover ratio stands at 13.3. The estimated value of the shares held short is approximately $256.45 million. On an average day, 707.47K shares are traded, with the company's market capitalization totaling $1.37B.

For the stock TPI Composites Inc (TPIC), the current short interest is at 18.37%. This represents a significant short interest change of -480000 shares, corresponding to a short interest percentage decrease of -5.78%. The days needed to cover the short positions amount to 5.8. The approximate worth of the shares held short is $22.44 million.

The stock EBIX has a current short interest of 23.13%. The short interest percentage has experienced decrease of -5.71% while there was a change of -340000 shares in short interest. The ratio indicating the time required to cover short positions is 8.8. The calculated worth of the shorted shares amounts to around $223.63 million. Trading activity averages at 705.40K shares per day, while the company's market capitalization stands at $322.90M.

EV Stocks to Watch

According to our ST Score evaluation, NXP Semiconductors NV (NXPI) emerges as a high-quality stock in the EV industry, attaining an impressive score of 49.0. The stock's profitability, stock sentiment, and Piotroski Score are strong. However, its value, growth, and financial strength are weak. Additionally, it is neutral in terms of performance, and forecast.

Our ST Score also classifies Li Auto Inc ADR (LI) as a high-quality EV stock today, presenting a Score of 61.0. The stock has strong fundamentals in terms of profitability, growth, financial strength, and Piotroski Score. However, it has weak value. The performance, stock sentiment, and forecast are neutral.

Another stock in the category, ST Microelectronics (STM) has the ST Score of 58.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, and Piotroski Score. Value, performance, growth, financial strength, stock sentiment, and forecast suggest a neutral outlook.

BorgWarner Inc (BWA) stock has the ST Score of 55.0 which implies that the EV company has a high probability of beating the market. The stock's strengths lie in its profitability, and Piotroski Score, but its weaknesses are in its financial strength, and stock sentiment. However, it shows neutral outlook in value, performance, growth, and forecast.

Niu Technologies ADR (NIU) currently has the ST Score of 62.0, which signifies a huge upward potential. The EV stock's strong points are its valuation, profitability, growth, and stock sentiment. The stock's performance, financial strength, Piotroski Score, and forecast indicate a neutral outlook.