Dear Readers,

Stocks ticked lower Wednesday as investors looked ahead to a key inflation report due later this week.

As of 11:59 AM ET, the Dow was down -75.38 points, or -0.1934%, at $38897.04. The Nasdaq Composite lost -44.49 points, or -0.2476%, at $17926.5565. The S&P 500 declined -3.35 points, or -0.066%, at $5074.82. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Real Estate leading the way with a 1.09% increase.

UnitedHealth lost more than 4% to lead the Dow lower. Tech giant Alphabet declined 2%. Elsewhere, Urban Outfitters fell nearly 10% after reporting weaker-than-expected results for the fourth quarter.

Investors are looking toward the personal consumption expenditure reading for January on Thursday, which is the Federal Reserve's preferred measure of inflation.

Top Movers: Under $10

Vivani Medical Inc (VANI) is up 264.36% today to trade at the current level of $3.68. This comes after the company announced positive preclinical data on weight loss effects for NPM-115, the Company’s miniature, twice-yearly, exenatide implant under development for the treatment of chronic weight management.

Adial Pharmaceuticals Inc (ADIL) zoomed 164.51% in today’s trade to $2.31 after announcing patent number 11,905,562 was issued on February 20, 2024 by the United States Patent and Trademark Office.

In current trading, Incannex Healthcare Inc (IXHL) stock is at $6.04 following the release of positive topline results from phase 2 Psi-GAD1 clinical trial of Psilocybin in generalised anxiety disorder.

Applied Therapeutics Inc (APLT) rose 36.38% in the early hours of today's trading to move at $7.61 after the company got an update from the Food and Drug Administration (FDA).

In the current trading session, LifeStance Health Group Inc (LFST) jumped 29.78% to $8.69 over a previous close of $6.70 after reporting fourth quarter and full year 2023 results.

Ex-Dividends Stocks

Arthur J. Gallagher & Co. (AJG) 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 $0.6 per share. It has fixed March 01 as the record date for the same and will pay the actual dividend on March 15. Last year, the company distributed a total of $2.20 to its shareholders. Based on the last year's worth of payments, AJG has a trailing yield of 0.90% on the current stock price of $245.58.

Another stock that is shelling out dividends tomorrow is Bank Of America Corp. (BAC), having a market capitalization of $270.87B. It will pay a dividend of $0.24 per share, the payment date of which is March 29. Currently, the stock is trading at a trailing dividend yield of 2.67%.

Shares of General Motors Company (GM) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.12 per share, and in the last 12 months, it paid a total of $0.36 per share. Last year's total dividend payments show that GM has a trailing yield of 0.88% on the current share price of $40.71.

Honeywell International Inc (HON) is also set to go ex-dividend tomorrow. The next dividend payment from HON will amount to $1.08 per share. March 01 has been designated as the record date for this dividend, with the actual payout scheduled for March 15. In the previous year, HON distributed a total of $3.14 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for HON stands at 1.58% based on the current stock price of $198.25.

Regions Financial Corp. (RF) 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 March 01. Over the past 12 months, RF has paid out a total of $0.88 per share in dividends. Based on the total dividends paid out last year, RF boasts an impressive trailing yield of 4.73% on the current share price of $18.61.

Crypto Market Highlights

Most Shorted Stocks

Bit Brother Limited (BETS) was one of the most shorted stocks as of latest short interest figures, with 72.12% 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 0.3. This represents a change of 262800 shares, which corresponds to a +149.91% increase in short interest. The total value of the shares held short is estimated to be around $1.09 million. The average daily volume stands at 1.50M shares, and the market capitalization of the company is $1.54M.

The Childrens Place Inc with the symbol PLCE currently has a short interest of 17.84%. The short interest has changed by -50000 shares. The days to cover ratio stands at 2.6. The estimated value of the shares held short is approximately $41.7 million. On an average day, 1.30M shares are traded, with the company's market capitalization totaling $250.22M.

For the stock Imperial Petroleum Inc (IMPP), the current short interest is at 75.38%. This represents a significant short interest change of 280000 shares, corresponding to a short interest percentage increase of +6.78%. The days needed to cover the short positions amount to 6.3. The approximate worth of the shares held short is $13.63 million.

With the symbol RILY, the stock currently has a short interest of 62.79%. The short interest change is -190000 shares, compared with a short interest percentage change of -1.80%. It would take approximately 6.9 days to cover all the short positions. The shares short value is estimated to be around $75.5 million. The company boasts an average daily volume of 1.40M shares, contributing to a market capitalization of $523.53M.

The stock VLCN has a current short interest of 58.37%. The short interest percentage has experienced decrease of -81.44% while there was a change of -648400 shares in short interest. The ratio indicating the time required to cover short positions is 0.4. The calculated worth of the shorted shares amounts to around $9.03 million. Trading activity averages at 876.77K shares per day, while the company's market capitalization stands at $0.25M.

AI Stocks to Watch

According to our ST Score evaluation, EPAM Systems Inc (EPAM) emerges as a high-quality stock in the AI industry, attaining an impressive score of 59.0. The stock's profitability, financial strength, stock sentiment, and Piotroski Score are strong. However, its value, and performance are weak. Additionally, it is neutral in terms of growth, and forecast.

Our ST Score also classifies Audiocodes (AUDC) as a high-quality AI stock today, presenting a Score of 58.0. The stock has strong fundamentals in terms of profitability, performance, stock sentiment, and Piotroski Score. However, it has weak value, and growth. The financial strength, and forecast are neutral.

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

Digital Realty Trust Inc (DLR) stock has the ST Score of 56.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and stock sentiment, but its weaknesses are in its value. However, it shows neutral outlook in growth, financial strength, Piotroski Score, and forecast.

Ansys Inc. (ANSS) currently has the ST Score of 56.0, which signifies a huge upward potential. The AI stock's strong points are its profitability, stock sentiment, and Piotroski Score, while its weak points are its value, and growth. The stock's performance, financial strength, and forecast indicate a neutral outlook.

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