Upcoming IPOs: Disruptive Stocks & $10 Plays on the Move

U.S. stocks fell sharply once again on Monday in a volatile session, as the White House stood firm following the introduction of unexpectedly high tariffs on most major U.S. trading partners, triggering a widespread market sell-off.

As of 11:24 AM ET, the Dow was down -1022.33 points, or -2.66823%, at $37292.53. The Nasdaq Composite lost -312.797 points, or -1.79792%, at $17084.898. The S&P 500 declined -109.72 points, or -2.16236%, at $4964.36. Among the 11 major S&P 500 sectors, 10 showed positive movement, with Communication Services leading the way with a 5.46% increase.

Investors became increasingly concerned that the market decline would continue to spiral, with hedge funds forced to liquidate equities and other risky assets to cover margin calls. The CBOE Volatility Index, also known as Wall Street's fear gauge, surged to 50 on Monday, a level typically only reached during bear markets.

The selling pressure spread across global markets and other asset classes. Bitcoin tumbled below $77,000, while U.S. crude oil prices dipped below $60 per barrel, marking a multiyear low. Hong Kong's Hang Seng Index fell 13%, its largest drop since 1997, and Germany's DAX Index lost as much as 10% during the session.

Chanson International Holding (CHSN) is up 68.15% today to trade at the current level of $0.37. This comes after the company announced fiscal year 2024 financial results.

Mesa Air Group Inc (MESA) zoomed 45.22% in today’s trade to $1.03 on news the carrier agreed to merge with fellow regional carrier Republic Airways in an all-stock transaction.

In current trading, Trident Digital Tech Holdings Ltd. ADR (TDTH) stock is at $0.24 after announcing progress in its pioneering public-private partnership (PPP) with the Democratic Republic of Congo (DRC).

Golden Ocean Group Limited (GOGL) rose 11.54% in the early hours of today's trading to move at $7.23 after announcing the appointment of Mr. Peder Simonsen as the Chief Executive Officer of Golden Ocean Management AS.

In the current trading session, LanzaTech Global Inc (LNZA) jumped 12.85% to $0.24 over a previous close of $0.21. The company acknowledged that it has received a non-binding letter from Carbon Direct Capital Management, which purports to offer to acquire the Company for $0.02 per share.

Ex-Dividends Stocks

First Bancorp Inc (ME) (FNLC) 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 $0.36 per share. It has fixed April 08 as the record date for the same and will pay the actual dividend on April 18. Last year, the company distributed a total of $1.43 to its shareholders. Based on the last year's worth of payments, FNLC has a trailing yield of 5.90% on the current stock price of $24.23.

Shares of So-Young International Inc ADR (SY) 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 $0.02 per share, and in the last 12 months, it paid a total of $0.00 per share. Last year's total dividend payments show that SY has a trailing yield of 0.00% on the current share price of $0.80.

Millicom International Cellular S.A (TIGO) is also set to go ex-dividend tomorrow. The next dividend payment from TIGO will amount to $0.75 per share. April 08 has been designated as the record date for this dividend, with the actual payout scheduled for April 15. In the previous year, TIGO distributed a total of $1.00 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TIGO stands at 3.54% based on the current stock price of $28.27.

Waterstone Financial Inc (WSBF) will be paying out a dividend of $0.15 per share to shareholders holding their shares as of the close of the business hours on the record date of April 08. Over the past 12 months, WSBF has paid out a total of $0.60 per share in dividends. Based on the total dividends paid out last year, WSBF boasts an impressive trailing yield of 4.76% on the current share price of $12.60.

Crypto Market Highlights

• Michael Saylor’s firm, Strategy, the world’s largest publicly listed corporate holder of Bitcoin, did not add to its BTC holdings last week as Bitcoin's price dropped below $87,000.

• US federal agencies are required to disclose their cryptocurrency holdings to the Department of the Treasury by April 7, following an executive order signed by President Donald Trump earlier this year. 

• The Mantra blockchain network launched a $108,888,888 ecosystem fund to support startups focused on real-world asset (RWA) tokenization and decentralized finance (DeFi).

• Hong Kong’s Securities and Futures Commission (SFC) introduced new guidelines for crypto exchanges offering staking services.

• Investors who bid on the REAL (REAL) token, promoted by former UFC champion Conor McGregor, will receive a full refund after the project failed to meet its $1 million minimum requirement.

 Most Shorted Stocks

Anavex Life Sciences Corporation (AVXL) was one of the most shorted stocks as of latest short interest figures, with 31.75% 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 14.9. This represents a change of 600000 shares, which corresponds to a +2.56% increase in short interest. The total value of the shares held short is estimated to be around $203.62 million. The average daily volume stands at 1.28M shares, and the market capitalization of the company is $720.50M.

The Workhorse Group Inc with the symbol WKHS currently has a short interest of 28.48%. The short interest has changed by -8105900 shares. The days to cover ratio stands at 3.1. The estimated value of the shares held short is approximately $1.33 million. On an average day, 319.34K shares are traded, with the company's market capitalization totaling $7.46M.

For the stock Microvision Inc (MVIS), the current short interest is at 28.49%. This represents a significant short interest change of 480000 shares, corresponding to a short interest percentage increase of +0.78%. The days needed to cover the short positions amount to 7.6. The approximate worth of the shares held short is $75.23 million.

With the symbol MARA, the stock currently has a short interest of 27.60%. The short interest change is 8050000 shares, compared with a short interest percentage change of +9.49%. It would take approximately 2.4 days to cover all the short positions. The shares short value is estimated to be around $720.81 million. The company boasts an average daily volume of 38.33M shares, contributing to a market capitalization of $4.04B.

The stock INDI has a current short interest of 26.79%. The short interest percentage has experienced an increase of +0.12% while there was a change of 60000 shares in short interest. The ratio indicating the time required to cover short positions is 11.9. The calculated worth of the shorted shares amounts to around $171.88 million. Trading activity averages at 4.26M shares per day, while the company's market capitalization stands at $384.67M.

Upcoming IPOs

FatPipe, Inc. (FATN) is all set for its debut on the NASDAQ exchange on April 08. They are offering shares in the price range of $5.75 to $7.75. With a total of 740,740 shares available, the company aims to raise approximately $5.00M through this IPO.

Ruanyun Edai Technology Inc. (RYET) will be entering the market with its IPO on April 08, on the NASDAQ exchange. They are offering shares in the price range of $4.00 to $5.00. They plan to offer 3,750,000 shares, targeting a deal size of $16.88M.

OMS Energy Technologies Inc. (OMSE) is also scheduled to make its debut on the NASDAQ exchange on April 10. They are offering shares in the price range of $8.00 to $10.00. The IPO includes 5,555,556 shares, aiming for a deal size of $50.00M.

Caring Brands, Inc. (CABR) is set to join the NASDAQ on April 11. The shares will be offered at a fixed price of $4.00 per share. They are offering 750,000 shares, with an estimated deal size of $3.00M.

Phoenix Asia Holdings Limited (PHOE) is preparing for its IPO on April 15, with plans to list on the NASDAQ exchange. The company will offer shares in the range of $4.00 to $6.00, with 1,600,000 shares available. PHOE aims to raise approximately $8.00M through this public offering.

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

Best Regards,

Stocks Telegraph Team

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