Under-$10 Stocks ERUPT Today 🔥 — What’s Behind The Massive Moves?

US stocks were mixed on Wednesday as markets awaited the Federal Reserve’s final policy decision of 2024.

The Dow rose 0.2%, the S&P 500 hovered near flat, and the Nasdaq fell 0.4% as traders priced in an ~90% chance of a 0.25% rate cut. Global bond yields climbed to their highest levels since 2009, while silver extended its rally after topping $60/oz.

In corporate moves, GameStop dropped 5% following a revenue miss, and GE Vernova jumped nearly 13% after doubling its dividend. Investors now turn to earnings from Oracle, with Broadcom, Costco, and Lululemon reporting Thursday.

Top Movers: Under $10 

HeartBeam Inc (BEAT) is up 57.67% today to trade at the current level of $1.27. This comes after the company announced that the FDA has granted 510(k) clearance for its new 12-lead ECG synthesis software used to assess arrhythmias.

Ashford Hospitality Trust Inc (AHT) zoomed 26.61% in today’s trade to $4.00 after announcing that its Board of Directors has formed a Special Committee to evaluate strategic alternatives to maximize shareholder value, including a potential transaction.

In current trading, Momentus Inc (MNTS) stock is at $0.91 after announcing an agreement to induce the exercise of outstanding warrants, generating approximately $3.7 million in gross proceeds at an exercise price of $0.77 per share.

NextPlat Corp (NXPL) rose 10.79% in the early hours of today's trading to move at $0.72 after announcing continued progress in its business development efforts as it executes against its growth and organizational refocusing initiatives.

In the current trading session, Rackspace Technology Inc (RXT) jumped 9.25% to $1.17 over a previous close of $1.07 after announcing that Niterra EMEA GmbH (hereafter Niterra) partnered with Rackspace to advance its digital transformation through a rapid migration to Google Cloud.

Ex-Dividend Stocks

BayCom Corp (BCML) 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 $0.3 per share. It has fixed December 11 as the record date for the same and will pay the actual dividend on January 09. Last year, the company distributed a total of $0.75 to its shareholders. Based on the last year's worth of payments, BCML has a trailing yield of 2.50% on the current stock price of $30.0.

Another stock that is shelling out dividends tomorrow is Automatic Data Processing Inc (ADP), having a market capitalization of $104.67B. It will pay a dividend of $1.7 per share, the payment date of which is January 01. Currently, the stock is trading at a trailing dividend yield of 2.38%.

Shares of CME Group Inc (CME) 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 $1.25 per share, and in the last 12 months, it paid a total of $4.87 per share. Last year's total dividend payments show that CME has a trailing yield of 1.81% on the current share price of $268.52.

Crown Crafts, Inc (CRWS) is also set to go ex-dividend tomorrow. The next dividend payment from CRWS will amount to $0.08 per share. December 12 has been designated as the record date for this dividend, with the actual payout scheduled for January 02. In the previous year, CRWS distributed a total of $0.32 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for CRWS stands at 11.62% based on the current stock price of $2.76.

First Capital Inc (FCAP) will be paying out a dividend of $0.31 per share to shareholders holding their shares as of the close of business hours on the record date of December 12. Over the past 12 months, FCAP has paid out a total of $1.18 per share in dividends. Based on the total dividends paid out last year, FCAP boasts an impressive trailing yield of 2.02% on the current share price of $58.52.

Crypto Market Highlights

• Japan plans to shift crypto oversight from payments law to securities regulation, tightening IEO disclosure rules and cracking down on unregistered platforms.

• Vitalik Buterin downplays Ethereum’s recent finality scare, saying temporary delays are acceptable as long as incorrect blocks aren’t finalized—an assessment most experts support.

• Mubadala Capital partners with Kaio to pilot tokenized access to private market strategies, highlighting rising sovereign interest in on-chain real-world assets (RWAs).

• Silk Road-linked wallets still hold roughly $38.4M in BTC, with additional millions likely in other unseized addresses.

• Solv generates Bitcoin yield via lending markets, automated market-maker liquidity provision, and structured staking programs.

Most Shorted Stocks

TeraWulf (WULF) was one of the most shorted stocks as of the latest short interest figures, with 32.27% short interest. The days-to-cover ratio, a measure of how long it would take for all short positions to be covered based on average trading volume, is 2.3. This represents a change of -3,996,028 shares, a -3.65% decrease in short interest. The total value of the shares held short is estimated to be around $1.16B. The average daily volume stands at 41.87M shares, and the market capitalization of the company is $6.50B.

The Navitas Semiconductor with the symbol NVTS currently has a short interest of 35.50%. The short interest has changed by -498,902 shares. The days to cover ratio stands at 2.9. The estimated value of the shares held short is approximately $506.25M. On an average day, 40.04M shares are traded, with the company's market capitalization totaling $2.07B.

For the stock Abeona Therapeutics (ABEO), the current short interest is at 26.94%. This represents a significant change in short interest of 223,208 shares, a 1.64% increase. The days needed to cover the short positions amount to 8.0. The approximate worth of the shares held short is $69.89 million.

With the symbol CAR, the stock currently has a short interest of 51.98%. The short interest change is -152,494 shares, compared with a short interest percentage change of 1.74%. It would take approximately 14.4 days to cover all the short positions. The shares short value is estimated to be around $1.17 billion. The company boasts an average daily volume of 793.28K shares, contributing to a market capitalization of $4.69B.

The stock REAL has a current short interest of 26.92%. The short interest percentage has experienced an increase of 16.32% while there was a change of 4,010,560 shares in short interest. The ratio indicating the time required to cover short positions is 4.7. The calculated worth of the shorted shares amounts to around $395.84 million. Trading activity averages at 3.89M shares per day, while the company's market capitalization stands at $1.67B.

AI Stock to Watch

According to our ST Score evaluation, Camtek Ltd (CAMT) emerges as a high-quality stock in the AI industry, attaining an impressive score of 57. 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 Vertiv Holdings Co (VRT) 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. However, it has weak financial strength. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, Sprinklr Inc (CXM) 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, but weak in growth. Financial strength, stock sentiment, and forecasts suggest a neutral outlook.

UiPath Inc (PATH) stock has the ST Score of 61 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, but its weaknesses lie in its growth. However, it shows neutral outlook in stock sentiment and forecast.

ASML Holding NV (ASML) currently has the ST Score of 55, which signifies a huge upward potential. The AI stock's strong points are its profitability, performance, and Piotroski Score, while its weak points are its financial strength. The stock's growth, 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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