Dear Readers,

On Thursday, the S&P 500 edged up as investors processed inflation data meeting economist expectations and new U.S. housing figures. 

In January, the Fed's preferred inflation gauge hovered above its target but stayed within Wall Street forecasts, while consumer spending remained strong. However, pending home sales unexpectedly fell by 4.9% in January, contrary to the anticipated 2% rise. 

Despite recent declines, February's trading session concludes with positive gains for the major indices, though questions linger about the sustainability of the AI-driven rally. The Nasdaq leads with a 6% increase, followed by the S&P 500 at 5.1%, and the Dow at 2.3%. This marks the Dow's first four-month winning streak since May 2021.

Later, New York Federal Reserve Bank President and CEO John Williams is scheduled to moderate an evening discussion.

As of 12:13 PM ET, the Dow was down -77.3 points, or -0.1985%, at $38871.73. The Nasdaq Composite added 77.5195 points, or 0.4337%, at $17952.023. The S&P 500 rose 6.5303 points, or 0.1288%, at $5076.29. Among the 11 major S&P 500 sectors, 11 showed negative movement, with Health Care leading the way with a 0.89% decrease.

Top Movers: Under $10

Enveric Biosciences Inc (ENVB) is up 190.00% today to trade at the current level of $2.41. This comes after the company announced that it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of three classes of compounds.

Societal CDMO Inc (SCTL) zoomed 130.43% in today’s trade to $1.06 after the company announced an acquisition agreement with CoreRx.

In current trading, Agrify Corp (AGFY) stock is at $0.61 following the the signing of a multi-year cultivation and extraction deal with HarvestWorks Farm, New Jersey, a licensed New Jersey operator.

iHeartMedia Inc (IHRT) rose 27.31% in the early hours of today's trading to move at $2.89 after reporting financial results for the quarter and year ended December 31, 2023.

In the current trading session, GoodRx Holdings Inc (GDRX) jumped 16.98% to $7.57 over a previous close of $6.47 after releasing fourth quarter and full year 2023 results.

Ex-Dividends Stocks

Allstate Corp (ALL) 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 $0.92 per share. It has fixed March 04 as the record date for the same and will pay the actual dividend on April 01. Last year, the company distributed a total of $2.67 to its shareholders. Based on the last year's worth of payments, ALL has a trailing yield of 1.67% on the current stock price of $159.59.

Another stock that is shelling out dividends tomorrow is Harley-Davidson, Inc. (HOG), having a market capitalization of $4.94B. It will pay a dividend of $0.17 per share, the payment date of which is March 20. Currently, the stock is trading at a trailing dividend yield of 1.82%.

Shares of SLM Corp. (SLM) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.11 per share, and in the last 12 months, it paid a total of $0.44 per share. Last year's total dividend payments show that SLM has a trailing yield of 2.13% on the current share price of $20.68.

Teekay Tankers Ltd (TNK) is also set to go ex-dividend tomorrow. The next dividend payment from TNK will amount to $0.25 per share. March 04 has been designated as the record date for this dividend, with the actual payout scheduled for March 15. In the previous year, TNK distributed a total of $0.75 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for TNK stands at 1.36% based on the current stock price of $55.25.

Pan American Silver Corp (PAAS) 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 04. Over the past 12 months, PAAS has paid out a total of $0.40 per share in dividends. Based on the total dividends paid out last year, PAAS boasts an impressive trailing yield of 3.20% on the current share price of $12.50.

Crypto Market Highlights

Most Shorted Stocks

MicroCloud Hologram Inc (HOLO) was one of the most shorted stocks as of latest short interest figures, with 63.03% 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 0.1. This represents a change of 649800 shares, which corresponds to a +1,304.82% increase in short interest. The total value of the shares held short is estimated to be around $6.78 million. The average daily volume stands at 5.97M shares, and the market capitalization of the company is $57.56M.

The Novavax, Inc. with the symbol NVAX currently has a short interest of 46.16%. The short interest has changed by 2740000 shares. The days to cover ratio stands at 6.4. The estimated value of the shares held short is approximately $270.31 million. On an average day, 9.17M shares are traded, with the company's market capitalization totaling $585.49M.

For the stock Bridger Aerospace Group Holdings Inc (BAER), the current short interest is at 42.75%. This represents a significant short interest change of 7900 shares, corresponding to a short interest percentage increase of +3.49%. The days needed to cover the short positions amount to 9.6. The approximate worth of the shares held short is $1.16 million.

With the symbol TRUP, the stock currently has a short interest of 42.25%. The short interest change is 410000 shares, compared with a short interest percentage change of +3.18%. It would take approximately 17.4 days to cover all the short positions. The shares short value is estimated to be around $6.2 million. The company boasts an average daily volume of 792.10K shares, contributing to a market capitalization of $1.11B.

Biotech Stocks to Watch

According to our ST Score evaluation, BioNTech SE ADR (BNTX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 60.0. The stock's valuation, profitability, financial strength, and Piotroski Score are strong. However, its performance, and growth are weak. Additionally, it is neutral in terms of stock sentiment, and forecast.

Our ST Score also classifies Invivyd Inc (IVVD) as a high-quality Biotech stock today, presenting a Score of 60.0. The stock has strong fundamentals in terms of performance, growth, financial strength, and stock sentiment. However, it has weak Piotroski Score. The value, profitability, and forecast are neutral.

Another stock in the category, Xenetic Biosciences Inc (XBIO) has the ST Score of 59.0, which means that the stock carries the potential for higher returns. The stock is strong in valuation, performance, financial strength, and stock sentiment. Profitability, growth, piotroski score, and forecast suggest a neutral outlook.

Voyager Therapeutics Inc (VYGR) stock has the ST Score of 59.0 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its valuation, profitability, and stock sentiment, but its weaknesses are in its performance, and financial strength. However, it shows neutral outlook in growth, Piotroski Score, and forecast.

Connect Biopharma Holdings Ltd ADR (CNTB) currently has the ST Score of 51.0, which signifies a huge upward potential. The Biotech stock's strong points are its performance, financial strength, and stock sentiment. The stock's value, profitability, growth, and forecast indicate a neutral outlook.

✨ If you like our content, be sure to check out: