"Power Picks: AI Leaders & $10 Stocks Gaining Steam"

Tech led US stocks mostly higher on Wednesday, as the S&P 500  kept a bid for record highs in play amid revived hopes for interest-rate cuts and the US-brokered ceasefire between Iran and Israel.

As of 11:08 AM ET, the Dow was down -82.74 points, or -0.192%, at $43006.29. The Nasdaq Composite added 52.08 points, or 0.23%, at $22242.6. The S&P 500 rose 3.05 points, or 0.05%, at $6095.23. Among the 11 major S&P 500 sectors, 8 showed negative movement, with Utilities leading the way with a -1.26% decrease.

Market spirits got a boost from the Jerome Powell's comments to Congress on Tuesday, as the Federal Reserve chair said policymakers could act "sooner rather than later" on rate cuts. Investors are now looking to his further testimony on Wednesday to test bumped-up bets on policy easing.

Investors are also keeping a close eye on the US-brokered Middle East truce, which appears to be holding. There have been no reported strikes between Israel and Iran since President Trump lambasted both for breaching an agreement to pause hostilities to give room for diplomacy.

Top Movers: Under $10 

Plus Therapeutics Inc (PSTV) is up 96.36 today to trade at the current level of $0.37. This comes after the company announced FDA clearance of its IND application for REYOBIQ™ to treat children with certain aggressive brain tumors, including high-grade glioma and ependymoma.

SeaStar Medical Holding Corp (ICU) zoomed 48.58% in today’s trade to $0.53 after announcinng that it has undertaken a series of transactions to ensure compliance with Nasdaq’s continued listing standards.

In current trading, GlucoTrack Inc (GCTK) stock is at $9.20 after announcing results from its completed first-in-human clinical study presented at the American Diabetes Association’s (ADA) 85th Scientific Sessions

QuantumScape Corp (QS) rose 25.16% in the early hours of today's trading to move at $5.42 after after the company said it had reached a breakthrough in its next-generation solid-state lithium-metal battery technology.

In the current trading session, Sonim Technologies Inc (SONM) jumped 19.64% to $1.34 over a previous close of $1.12 after signing a non-binding deal for a potential reverse take-over with a private U.S. firm developing Nvidia-based AI data centers to support rapid cloud AI growth.

Ex-Dividends Stocks

John Marshall Bancorp Inc (JMSB) is about to trade ex-dividend Friday, meaning that investors who buy the stock after Friday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.3 per share. It has fixed June 27 as the record date for the same and will pay the actual dividend on July 07. Last year, the company distributed a total of $0.25 to its shareholders. Based on last year's worth of payments, JMSB has a trailing yield of 1.34% on the current stock price of $18.65.

Another stock that is shelling out dividends Friday is Chicago Atlantic BDC Inc (LIEN), having a market capitalization of $228.20M. It will pay a dividend of $0.34 per share, the payment date of which is July 11. Currently, the stock is trading at a trailing dividend yield of 11.80%.

Shares of Seanergy Maritime Holdings Corp (SHIP) will be the talk of the stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.05 per share, and in the last 12 months, it paid a total of $0.63 per share. Last year's total dividend payments show that SHIP has a trailing yield of 9.77% on the current share price of $6.5.

Townebank Portsmouth VA (TOWN) is also set to go ex-dividend Friday. The next dividend payment from TOWN will amount to $0.27 per share. June 27 has been designated as the record date for this dividend, with the actual payout scheduled for July 11. In the previous year, TOWN distributed a total of $1.00 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TOWN stands at 2.95% based on the current stock price of $33.92.

DENTSPLY Sirona Inc (XRAY) will be paying out a dividend of $0.16 per share to shareholders holding their shares as of the close of the business hours on the record date of June 27. Over the past 12 months, XRAY has paid out a total of $0.64 per share in dividends. Based on the total dividends paid out last year, XRAY boasts an impressive trailing yield of 4.07% on the current share price of $15.72.

Crypto Market Highlights

• Ethena Labs reached an agreement with BaFin and Ethena GmbH on a redemption plan for USDe stablecoin holders.

• Moca Foundation launched Moca Chain, a new layer-1 blockchain focused on privacy-preserving identity and data authentication 

• Eight major South Korean banks will jointly launch a won-pegged stablecoin, advancing digital asset adoption in the country.

• ProCap, founded by Anthony Pompliano, made its first Bitcoin purchase shortly after announcing plans to go public later this year.

• Green Minerals AS, a Norwegian deep-sea mining firm, plans to create a Bitcoin treasury and raise $1.2 billion to buy and hold Bitcoin long-term.

  Most Shorted Stocks

Enphase Energy Inc (ENPH) was one of the most shorted stocks as of the latest short interest figures, with 19.27% 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 4.1. This represents a change of 3700000 shares, which corresponds to a +17.94% increase in short interest. The total value of the shares held short is estimated to be around $902.16 million. The average daily volume stands at 7.12M shares, and the market capitalization of the company is $4.87B.

The Day One Biopharmaceuticals Inc with the symbol DAWN currently has a short interest of 24.86%. The short interest has changed by 140000 shares. The days to cover ratio stands at 14.5. The estimated value of the shares held short is approximately $116.19 million. On an average day, 1.28M shares are traded, with the company's market capitalization totaling $634.02M.

For the stock JBG SMITH Properties (JBGS), the current short interest is at 18.30%. This represents a significant short interest change of 910000 shares, corresponding to a short interest percentage increase of +7.32%. The days needed to cover the short positions amount to 9.5. The approximate worth of the shares held short is $227.22 million.

With the symbol SAVA, the stock currently has a short interest of 20.17%. The short interest change is -1200000 shares, compared with a short interest percentage change of -11.96%. It would take approximately 6.2 days to cover all the short positions. The shares' short value is estimated to be around $24.56 million. The company boasts an average daily volume of 1.37M shares, contributing to a market capitalization of $88.89M.

The stock HTZ has a current short interest of 41.36%. The short interest percentage has experienced a decrease of -2.86% while there was a change of -1660000 shares in short interest. The ratio indicating the time required to cover short positions is 3.1. The calculated worth of the shorted shares amounts to around $62.78 million. Trading activity averages at 17.92M shares per day, while the company's market capitalization stands at $2.20B.

AI Stocks to Watch

According to our ST Score evaluation, iRhythm Technologies Inc (IRTC) emerges as a high-quality stock in the AI industry, attaining an impressive score of 54. The stock's performance and financial strength are strong. Additionally, it is neutral in terms of profitability, growth, stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Vertiv Holdings Co (VRT) as a high-quality AI stock today, presenting a Score of 54. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. However, it has weak growth and financial strength. The stock sentiment and forecast are neutral.

Another stock in the category, Advanced Micro Devices Inc (AMD) has the ST Score of 56, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, and Piotroski Score. Growth, financial strength, stock sentiment, and forecast suggest a neutral outlook.

Alibaba Group Holding Ltd ADR (BABA) stock has the ST Score of 53 which implies that the AI 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 neutral outlook in performance, growth, stock sentiment, and forecast.

Audiocodes (AUDC) currently has the ST Score of 56, which signifies a huge upward potential. The AI stock's strong points are its profitability and Piotroski Score. The stock's performance, growth, financial strength, stock sentiment, and forecast indicate a neutral outlook.

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

Best Regards,

Stocks Telegraph Team

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