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- Aug - 09 - ST- Midday Newsletter
Aug - 09 - ST- Midday Newsletter
Small Price, Big Potential: Your Daily Watchlist of Under $10 Stocks
The Newsheater daily Mid-Day newsletter is powered by Stocks Telegraph
Good Afternoon!
Wall Street fell on Wednesday as oil prices rose and more companies announced their earnings. Investors were worried about inflation data that is expected to be released later in the week. At 12:54 PM ET, the Dow was down -145.02 points, or -0.41%, at 35169.47. The Nasdaq Composite lost -136.83 points, or -0.99%, at 13747.5. The S&P 500 declined -24.79 points, or -0.55%, at 4474.59. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Technology leading the way with a -1.28% decrease. The stock market is extending losses ahead of the release of the U.S. inflation report on Thursday. Investors are watching the report closely because it will give them clues about how the Federal Reserve will raise interest rates. Economists expect the inflation rate to be 3.3% in July, which is higher than the previous month. Wednesday's developments come in the wake of a downbeat day on Wall Street, spurred by a Moody's downgrade affecting various regional banks, which cast a shadow over investor confidence. This also made investors worried that the banks might be in trouble, which could hurt the stock market. Some believe that this is just a normal pullback after the stock market had a big rally this year, but others are worried that it could be the start of a bigger problem.
3 AI Stocks Set to Soar in 2023
Eric Fry just released the names of 3 AI-driven stocks he believes every investor should own, even in these crazy markets - one stock is up over 100% since the beginning of 2023.
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Top Movers: Under $10
Decibel Therapeutics Inc. (DBTX) is Up 75.99% today to trade at the current level of $4.91. This comes after Regeneron Pharmaceuticals and Decibel Therapeutics announced a definitive agreement for the acquisition of Decibel by Regeneron at a price of $4.00 per share of Decibel common stock payable in cash at closing.
Renovaro Biosciences Inc. (RENB) zoomed 65.88% in today’s trade to $1.41. This rally can be attributed to news that RENB has executed a binding, exclusive letter of intent to merge a subsidiary with the cutting-edge health AI company GEDi Cube Intl Ltd.
In current trading, Benitec Biopharma Inc. (BNTC) stock is at $3.68 following news that the company announced pricing of $30 million underwritten public offering.
Science 37 Holdings Inc. (SNCE) rose 40.69% in the early hours of today's trading to move at $0.38. The strong performance of SNCE stock came as investors were encouraged by news that the company released its financial results for the quarter ended June 30, 2023..
In the current trading session, Marqeta Inc. (MQ) jumped 15.30% to $5.72 over a previous close of $4.96 as the company announced it had renewed its contract with Block to power its Cash App debit card.
Forbes mag says this strategy "like finding money in the street"
And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday.
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Ex-Dividends Stocks
AmerisourceBergen Corporation (ABC) 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 $0.48 per share. The company has fixed August 11 as the record date for the same and will pay the actual dividend on August 28. Last year, the company distributed a total of $1.94 to its shareholders. Based on the last year's worth of payments, ABC has a trailing yield of 1.04% on the current stock price of $185.88.
Another stock that is shelling out dividends tomorrow is Astec Industries Inc. (ASTE), having a market capitalization of $1.21B. It will pay a dividend of $0.13 per share, the payment date of which is August 31. Currently, the stock is trading at a trailing dividend yield of 0.99%.
Shares of Atlantic Union Bankshares Corporation (AUB) will be the talk of stock market on Thursday as the stock will turn ex-dividend. The company's next dividend payment will be $0.3 per share, and in the last 12 months, the company paid a total of $1.20 per share. Last year's total dividend payments show that AUB has a trailing yield of 3.66% on the current share price of $32.77.
Tomorrow, AstraZeneca PLC (AZN) is also set to go ex-dividend. The next dividend payment from AZN will amount to $0.98 per share. August 11 has been designated as the record date for this dividend, with the actual payout scheduled for September 11. In the previous year, AZN distributed a total of $1.45 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for AZN stands at 2.04% based on the current stock price of $71.14.
Barclays PLC (BCS) will be paying out a dividend of $0.14 per share to shareholders holding their shares as of the close of the business hours on the record date of August 11. Over the past 12 months, BCS has paid out a total of $0.39 per share in dividends. Based on the total dividends paid out last year, Barclays PLC boasts an impressive trailing yield of 5.09% on the current share price of $7.58.
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Crypto Market Highlights
Maple Finance, a major player in blockchain finance, has received permission from the US Securities and Exchange Commission (SEC) to offer one-month US Treasury yields to accredited US investors. Starting from August 15, Russia will partner with 13 local banks to test its own digital currency, the digital ruble. BlackRock insiders indicate a potential Bitcoin (BTC) exchange-traded fund (ETF) launch before February, as per Galaxy Digital CEO Mike Novogratz. El Salvador's Bitcoin-friendly approach continues as they've licensed Binance to offer crypto services, potentially boosting digital asset adoption. The US Federal Reserve is launching a program to oversee banks' crypto activities, emphasizing the need for their approval before engaging in digital asset operations.
Free Report: Three of the Top NASDAQ Stocks to Buy Under $10
These stocks are flying well under the radar. But that may not be the case for long. The market may simply be overlooking a red-hot opportunity -- as they're doing with these three stocks.
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Most Shorted Stocks
Bowlero Corp. (BOWL) was one of the most shorted stocks as of mid July, with 44.90% 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 12.24. This represents a change of 281746 shares, which corresponds to a 1.58% increase in short interest. The total value of the shares held short is estimated to be around $491.59 million. The average daily volume stands at 2.04M shares, and the market capitalization of the company is $2.08B.
The Redwire Corporation with the symbol RDW currently has a short interest of 44.70%, a decrease from the previous short interest level of 45.68%. The short interest has changed by 39302 shares. The days to cover ratio stands at 8.7. The estimated value of the shares held short is approximately $13.37 million. On an average day, 243.81K shares are traded, with the company's market capitalization totaling $216.81M.
For the stock World Wrestling Entertainment Inc. (WWE), the current short interest is at 41.16%, compared to the previous level of 37.07%. This represents a significant short interest change of 586257 shares, corresponding to a short interest percentage increase of 11.03%. The days needed to cover the short positions amount to 10.66. The approximate worth of the shares held short is $1.57 billion.
With the symbol GRPN, the stock currently has a short interest of 39.28%, showing an increase from the previous level of 35.57%. The short interest change is 498618 shares, compared with a short interest percentage change of 10.44%. It would take approximately 6.02 days to cover all the short positions. The shares short value is estimated to be around $111.75 million. The company boasts an average daily volume of 1.44M shares, contributing to a market capitalization of $253.16M.
The stock IGMS has a current short interest of 42.07%, higher than the previous short interest level of 41.08%. The short interest percentage has experienced an increase of 2.42% while there was a change of 117161 shares in short interest. The ratio indicating the time required to cover short positions is 20.08. The calculated worth of the shorted shares amounts to around $94.28 million. Trading activity averages at 325.23K shares per day, while the company's market capitalization stands at $473.91M.
Free Report: Three of the Top NASDAQ Stocks to Buy Under $10
These stocks are flying well under the radar. But that may not be the case for long. The market may simply be overlooking a red-hot opportunity -- as they're doing with these three stocks.
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AI stocks to Watch
According to our ST Score evaluation, Microsoft Corporation (MSFT) emerges as a high-quality stock in the AI industry, attaining an impressive score of 60.0. The stock's profitability, performance, growth, and Piotroski Score are strong. However, its value are weak. Additionally, it is neutral in terms of financial strength, stock sentiment, and forecast.
Our ST Score also classifies Accenture plc (ACN) as a high-quality AI stock today, presenting an AI Score of 59.0. The stock has strong fundamentals in terms of profitability, performance, growth, and Piotroski Score. However, it has weak value. The financial strength, stock sentiment, and forecast are neutral.
Another stock in the category, ServiceNow Inc. (NOW) has the ST score of 58.0, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, growth, and Piotroski Score but weak in value, and financial strength. Stock sentiment, and forecast suggest a neutral outlook.
ANSYS Inc. (ANSS) stock has the ST Score of 58.0 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, growth, and Piotroski Score, but its weaknesses are in its value, financial strength, and forecast. However, it shows neutral outlook in stock sentiment.
Arista Networks Inc. (ANET) currently has the ST score of 57.0, which signifies a huge upward potential. The AI stock's strong points are its profitability, and growth, while its weak points are its value. The stock's performance, financial strength, stock sentiment, Piotroski Score, 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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Disclaimer: Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. Stocks featured in this newsletter may be owned by owners/operators of this website which could impact our ability to remain unbiased. Please consult a financial advisor before making any trading decisions. I may earn a small commission from links placed inside of these emails.