Quick Market Flash: Upcoming IPOs & Value $10 Plays

The Dow Jones Industrial Average soared over 400 points on Monday, positioning itself for a record-breaking close as the benchmark’s postelection rally gained momentum. The surge set the Dow on course to break the 44,000 mark for the first time, while the S&P 500 aimed to close above 6,000 for the first time in its history.

As of 11:56 AM ET, the Dow was up 362.87 points, or 0.8249%, at $44351.87. The Nasdaq Composite lost -23.3809 points, or -0.1107%, at $21093.799. The S&P 500 rose 14.18 points, or 0.2365%, at $6009.71. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Information Technology leading the way with a -0.79% decrease.

Leading the Dow's advance, JPMorgan Chase and Goldman Sachs jumped 1.7% and 2.2%, respectively. Bank of America and Citigroup also saw gains exceeding 2% each, reflecting the strong performance of financial stocks since Donald Trump’s election victory last week, as investors anticipate more relaxed regulations in the banking sector under his leadership.

Bitcoin pushed past $82,000, spurred by optimism over potential deregulation. Crypto-related stocks surged, with Coinbase and Mara Holdings rallying 21% and 16%, respectively. Tesla also joined the postelection surge, climbing over 8%.

Top Movers: Under $10

CERo Therapeutics Holdings Inc (CERO) is up 147.71% today to trade at the current level of $0.17. This comes after the company announced the presentation of preclinical data demonstrating the capability of its lead compound CER-1236 to kill ovarian cancer cells in preclinical models with no indications of toxicity in animal models.

Canaan Inc ADR (CAN) zoomed 41.27% in today’s trade to $1.78 after signing agreement with HIVE for Avalon A1566 miners.

In current trading, Expensify Inc (EXFY) stock is at $2.88 following the announcements of its Q3, 2024 results.

HIVE Digital Technologies Ltd (HIVE) rose 15.16% in the early hours of today's trading to move at $5.36 after announcing a major order for 6,500 Canaan Avalon A1566 ASIC Miners from Canaan Inc. (CAN) and provide an update on its Paraguay facility.

In the current trading session, Tevogen Bio Holdings Inc (TVGN) jumped 14.63% to $1.40 over a previous close of $1.22 as the company nears the finalization of an agreement with CD8 Technology for a turn-key facility designed to support both pre-clinical research and GMP manufacturing capabilities, with staffing provided by Tevogen.

Ex-Dividends Stocks

Adecoagro S.A (AGRO) 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 $0.17 per share. It has fixed November 12 as the record date for the same and will pay the actual dividend on November 27. Last year, the company distributed a total of $0.33 to its shareholders. Based on the last year's worth of payments, AGRO has a trailing yield of 2.96% on the current stock price of $11.25.

Shares of Delek US Holdings Inc (DK) 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 $0.26 per share, and in the last 12 months, it paid a total of $0.99 per share. Last year's total dividend payments show that DK has a trailing yield of 5.41% on the current share price of $18.30.

Healthcare Realty Trust Inc (HR) is also set to go ex-dividend tomorrow. The next dividend payment from HR will amount to $0.31 per share. November 12 has been designated as the record date for this dividend, with the actual payout scheduled for November 27. In the previous year, HR distributed a total of $1.24 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HR stands at 6.82% based on the current stock price of $18.19.

Kennametal Inc (KMT) will be paying out a dividend of $0.2 per share to shareholders holding their shares as of the close of the business hours on the record date of November 12. Over the past 12 months, KMT has paid out a total of $0.60 per share in dividends. Based on the total dividends paid out last year, KMT boasts an impressive trailing yield of 2.02% on the current share price of $29.73.

Crypto Market Highlights

• MicroStrategy announced it purchased 27,200 Bitcoin for approximately $2.03 billion in cash, reinforcing its strong commitment to the cryptocurrency.

• Agora launched its AUSD stablecoin as the native currency for Polygon’s AggLayer, enabling multichain transactions with a fiat-backed stablecoin.

• The Conflux Foundation plans to invest $500 million to support the growth of PayFi, a Web3 payments solution.

• DWF Labs has partnered with the University of California, Los Angeles (UCLA) to create an educational initiative focused on tokenized securities.

• The DeltaPrime protocol was exploited for $4.8 million in digital assets, adding to the growing number of crypto hacks in 2024, which may surpass the total value stolen in 2023.

Most Shorted Stocks

Fuelcell Energy Inc (FCEL) was one of the most shorted stocks as of latest short interest figures, with 22.36% 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 4.5. This represents a change of -1760000 shares, which corresponds to a -1.40% decrease in short interest. The total value of the shares held short is estimated to be around $823.0 million. The average daily volume stands at 886.99K shares, and the market capitalization of the company is $114.51M.

The Novavax, Inc with the symbol NVAX currently has a short interest of 22.31%. The short interest has changed by 1840000 shares. The days to cover ratio stands at 5.3. The estimated value of the shares held short is approximately $324.34 million. On an average day, 5.93M shares are traded, with the company's market capitalization totaling $1.41B.

For the stock Sunrun Inc (RUN), the current short interest is at 20.86%. This represents a significant short interest change of 1530000 shares, corresponding to a short interest percentage increase of +3.39%. The days needed to cover the short positions amount to 5.5. The approximate worth of the shares held short is $477.39 million.

With the symbol EDIT, the stock currently has a short interest of 22.20%. The short interest change is 1590000 shares, compared with a short interest percentage change of +9.50%. It would take approximately 9.9 days to cover all the short positions. The shares short value is estimated to be around $156.64 million. The company boasts an average daily volume of 1.95M shares, contributing to a market capitalization of $272.91M.

The stock DBI has a current short interest of 28.32%. The short interest percentage has experienced an increase of +4.62% while there was a change of 510000 shares in short interest. The ratio indicating the time required to cover short positions is 4.8. The calculated worth of the shorted shares amounts to around $92.2 million. Trading activity averages at 2.42M shares per day, while the company's market capitalization stands at $271.54M.

Upcoming IPO’s

Jinxin Technology Holding Company (NAMI) is all set for its debut on the NASDAQ exchange on November 13. They are offering shares in the price range of $4.00 to $5.00. With a total of 1,875,000 shares available, the company aims to raise approximately $8.44M through this IPO.

Peak Resources LP (PRB) will be entering the market with its IPO on November 13, on the NYSEAMERICAN exchange. They are offering shares in the price range of $13.00 to $15.00. They plan to offer 4,700,000 shares, targeting a deal size of $65.80M.

Creative Global Technology Holdings Limited (CGTL) is also scheduled to make its debut on the NASDAQ exchange on November 19. They are offering shares in the price range of $4.00 to $5.00. The IPO includes 1,250,000 shares, aiming for a deal size of $5.63M.

Fitness Champs Holdings Limited (FCHL) is set to join the NASDAQ on November 21. They are offering shares in the price range of $4.00 to $5.00. They are offering 2,000,000 shares, with an estimated deal size of $9.00M.

Brazil Potash Corp. (GRO) will make its public debut on the NYSE exchange on November 22. The company is offering shares within a price range of $15.00 to $18.00. With a total of 4,250,000 shares available, Brazil Potash aims to raise approximately $70.13M through its initial public offering.