Dear Readers,

Stocks fell Monday as the rally that brought the major averages to record highs cooled off. Investors also looked ahead to fresh U.S. inflation data.

As of 12:25 PM ET, the Dow was down -45.2617 points, or -0.1169%, at $38677.43. The Nasdaq Composite lost -47.7207 points, or -0.2648%, at $17970.732. The S&P 500 declined -10.1 points, or -0.2%, at $5113.58. Among the 11 major S&P 500 sectors, 6 showed positive movement, with Communication Services leading the way with a 0.74% increase.

That comes ahead of the producer-focused index slated for later in the week. The pair is among the last major economic reports expected before Federal Reserve leaders convene for their March policy meeting.

Monday's action follows a losing week for the major averages, pulling the S&P 500 and Nasdaq off all-time highs. Notably, the 30-stock Dow recorded its worst weekly performance since October.

Top Movers: Under $10

Fangdd Network Group Ltd ADR (DUO) is up 31.42% today to trade at the current level of $0.80. This comes after the company announced plans to enter the real estate stock asset services sector.

Mesoblast Ltd ADR (MESO) zoomed 25.60% in today’s trade to $2.70 after announcing that U.S. FDA supports an accelerated approval pathway for rexlemestrocel-L, Mesoblast’s allogeneic mesenchymal precursor cell (MPC) product, in patients with end-stage ischemic heart failure with reduced ejection fraction (HFrEF) and a left ventricular assist device (LVAD).

In current trading, NextNav Inc (NN) stock is at $4.96 following the announcement from the company that it has signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band (902-928) from Telesaurus Holdings GB LLC, and Skybridge Spectrum Foundation.

LM Funding America Inc (LMFA) rose 25.06% in the early hours of today's trading to move at $0.54. The company provided a preliminary, unaudited Bitcoin mining update for the month ended February 29, 2024.

In the current trading session, Gryphon Digital Mining Inc. (GRYP) jumped 51.62% to $2.58 over a previous close of $1.70 after releasing its unaudited operational update for February 2024.

Ex-Dividends Stocks

Vale S.A. ADR (VALE) 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 $0.55 per share. The company has fixed March 13 as the record date for the same and will pay the actual dividend on March 26. Last year, the company distributed a total of $0.65 to its shareholders. Based on the last year's worth of payments, VALE has a trailing yield of 5.08% on the current stock price of $12.83.

Another stock that is shelling out dividends tomorrow is HP Inc (HPQ), having a market capitalization of $29.91B. It will pay a dividend of $0.28 per share, the payment date of which is April 03. Currently, the stock is trading at a trailing dividend yield of 2.62%.

Shares of FS KKR Capital Corp. (FSK) will be the talk of stock market on Tuesday 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, the company paid a total of $2.53 per share. Last year's total dividend payments show that FSK has a trailing yield of 13.10% on the current share price of $19.34.

Lam Research Corp. (LRCX) is also set to go ex-dividend tomorrow. The next dividend payment from LRCX will amount to $2 per share. March 13 has been designated as the record date for this dividend, with the actual payout scheduled for April 03. In the previous year, LRCX distributed a total of $7.45 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for LRCX stands at 0.80% based on the current stock price of $927.07.

News Corp (NWSA) will be paying out a dividend of $0.1 per share to shareholders holding their shares as of the close of the business hours on the record date of March 13. Over the past 12 months, NWSA has paid out a total of $0.20 per share in dividends. Based on the total dividends paid out last year, NWSA boasts an impressive trailing yield of 0.76% on the current share price of $26.33.

Crypto Market Highlights

• Bitfarms exercises the option to buy 51,908 Bitmain ASIC miners, including 28,000 T21, for $14 per TH and S21 miners for $17.50/TH.

• MapleStory, an MMORPG with 400,000+ daily users, plans to expand its gaming experience to the Avalanche blockchain.

• Tether collaborates with the Celo network to expand USDT stablecoin across various blockchain networks.

• MicroStrategy completes a $800 million convertible note offering, and adds 12,000 BTC to its Bitcoin treasury reserve.

• London Stock Exchange to accept applications for Bitcoin and Ether crypto ETNs in Q2 2024.

• Bitcoin sets a new all-time high at $71,415 on March 11, rising 2.62% in the 24 hours leading up to 08:05 am UTC.

• BlackRock's spot Bitcoin ETF surpasses MicroStrategy's cryptocurrency holdings.

Most Shorted Stocks

Lucid Group Inc (LCID) was one of the most shorted stocks as of latest short interest figures, with 30.16% 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 6.3. This represents a change of -15670000 shares, which corresponds to a -5.81% decrease in short interest. The total value of the shares held short is estimated to be around $782.54 million. The average daily volume stands at 41.87M shares, and the market capitalization of the company is $7.08B.

The NuScale Power Corporation with the symbol SMR currently has a short interest of 29.06%. The short interest has changed by -530000 shares. The days to cover ratio stands at 8.9. The estimated value of the shares held short is approximately $96.17 million. On an average day, 2.14M shares are traded, with the company's market capitalization totaling $469.03M.

With the symbol CTNT, the stock currently has a short interest of 28.66%. The short interest change is 28900 shares, compared with a short interest percentage change of +57.00%. It would take approximately 3.9 days to cover all the short positions. The company boasts an average daily volume of 20.92K shares, contributing to a market capitalization of $39.07M.

The stock PROK has a current short interest of 28.63%. The short interest percentage has experienced increase of +6.65% while there was a change of 870000 shares in short interest. The ratio indicating the time required to cover short positions is 22.1. The calculated worth of the shorted shares amounts to around $0.13 million. Trading activity averages at 613.52K shares per day, while the company's market capitalization stands at $109.44M.

Upcoming IPOs

NeOnc Technologies Holdings, Inc. (NTHI) is all set for its debut on the NASDAQ exchange on March 13. They are offering shares in the price range of $11.25 to $13.75. With a total of 6,000,000 shares available, the company aims to raise approximately $75.00M through this IPO.

Reddit, Inc. (RDDT) will be entering the market with its IPO on March 21, on the NYSE exchange. They are offering shares in the price range of $31.00 to $34.00. They plan to offer 22,000,000 shares, targeting a deal size of $715.00M.

RanMarine Technology B.V. (RAN) is also scheduled to make its debut on the NASDAQ exchange on March 13. The shares will be offered at a fixed price of $5.50 per share. The IPO includes 1,435,000 shares, aiming for a deal size of $7.89M.

Intelligent Group Limited (INTJ) is set to join the NASDAQ on March 19. 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.

Astera Labs, Inc. (ALAB) is poised for its NASDAQ debut on March 20, with shares priced between $27.00 and $30.00. The company is releasing a total of 17,800,000 shares to the public, aiming to generate around $507.30M in funds through this initial public offering.

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