AI on the Rise: High-Growth Plays & $10 Stock Surprises

U.S. stock futures dropped on Wednesday as investors took in a warning from Nvidia that weighed heavily on global tech stocks.

As of 11:18 AM ET, the Dow was down -93.48 points, or -0.23%, at $40,275.48. The Nasdaq Composite lost -337.51 points, or -1.79%, at $18,492.72. The S&P 500 declined -53.32 points, or -0.99%, at $5,343.31. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Energy leading the way with a 1.81% increase.

The S&P 500 and major tech stocks, including those in CNBC's Magnificent Seven Index, were all under pressure, with Meta Platforms slipping 2%, while Microsoft and Tesla both dropped more than 1%. The broader tech sector felt the effects as concerns about rising global trade tensions intensified.

Since the Trump administration's announcement of "reciprocal" tariffs on April 2, the S&P 500 and Nasdaq Composite have each fallen by around 6%, with the Dow losing approximately 5%. Investors are grappling with the ongoing uncertainty as they navigate these challenging market conditions. 

Top Movers: Under $10 

Odyssey Marine Exploration, Inc (OMEX) is up 70.22% today to trade at the current level of $0.72. This comes as the OMEX Chairman & CEO, Mark D. Gordon will be presenting at the 81st Emerging Growth Conference.

Treasure Global Inc (TGL) zoomed 79.80% in today’s trade to $3.74. This rally can be attributed to news that TGL secures exclusive rights to launch Mezzofy’s $40 Billion Coupon Platform in Malaysia.

In current trading, Icad Inc (ICAD) stock is at $3.22 following news that RadNet is to acquire iCAD to accelerate AI-Powered early detection and diagnosis of breast cancer.

Mira Pharmaceuticals Inc (MIRA) rose 22.60% in the early hours of today's trading to move at $1.10. The strong performance of MIRA stock came as investors were encouraged by the MIRA Pharmaceuticals’ announcement of positive results for Ketamir-2 in Diabetic Neuropathy animal model, reinforcing confidence ahead of Phase I completion.

In the current trading session, BriaCell Therapeutics Corp (BCTX) jumped 8.00% to $4.05 over a previous close of $3.75 as BriaCell Phase 2 survival data beats leading standard in HR+ breast cancer.

Ex-Dividends Stocks

Dime Community Bancshares Inc (DCOM) 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 $0.25 per share. It has fixed April 17 as the record date for the same and will pay the actual dividend on April 24. Last year, the company distributed a total of $1.00 to its shareholders. Based on the last year's worth of payments, DCOM has a trailing yield of 3.99% on the current stock price of $25.06.

Another stock that is shelling out dividends tomorrow is Medalist Diversified REIT Inc (MDRR), having a market capitalization of $20.47M. It will pay a dividend of $0.07 per share, the payment date of which is April 22. Currently, the stock is trading at a trailing dividend yield of 1.84%.

Shares of OFS Credit Company Inc (OCCI) 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 $0.12 per share, and in the last 12 months, it paid a total of $1.34 per share. Last year's total dividend payments show that OCCI has a trailing yield of 19.99% on the current share price of $6.68.

First United Corp (FUNC) is also set to go ex-dividend tomorrow. The next dividend payment from FUNC will amount to $0.22 per share. April 17 has been designated as the record date for this dividend, with the actual payout scheduled for May 01. In the previous year, FUNC distributed a total of $0.84 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for FUNC stands at 2.98% based on the current stock price of $28.22.

LexinFintech Holdings Ltd ADR (LX) will be paying out a dividend of $0.09 per share to shareholders holding their shares as of the close of the business hours on the record date of April 17. Over the past 12 months, LX has paid out a total of $0.14 per share in dividends. Based on the total dividends paid out last year, LX boasts an impressive trailing yield of 1.95% on the current share price of $7.07.

Crypto Market Highlights

• Real estate fintech firm Janover acquired 80,567 SOL tokens for $10.5 million, bringing its total Solana holdings to over $21 million.

• VeChain has appointed UFC CEO Dana White as an official adviser to help expand blockchain awareness among the UFC’s global audience of 950 million.

• A new report from Binance Research suggests Ethereum’s push toward layer-2 scalability could hurt ETH’s value by dispersing liquidity across various blockchains.

• DWF Labs announced a $25 million investment in World Liberty Financial, a DeFi project backed by Donald Trump and his sons, alongside plans to open a New York office. 

• Italy’s Minister of Economy and Finance warned that US stablecoins pose a greater threat than tariffs, potentially undermining the euro’s dominance in cross-border payments.

 Most Shorted Stocks

Eos Energy Enterprises Inc (EOSE) was one of the most shorted stocks as of latest short interest figures, with 32.75% 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 10.5. This represents a change of 610,000 shares, which corresponds to a +0.90% increase in short interest. The total value of the shares held short is estimated to be around $332.95 million. The average daily volume stands at 6.41M shares, and the market capitalization of the company is $1.10B.

The SoundHound AI Inc with the symbol SOUN currently has a short interest of 32.70%. The short interest has changed by -10,000 shares. The days to cover ratio stands at 2.6. The estimated value of the shares held short is approximately $912.66 million. On an average day, 39.84M shares are traded, with the company's market capitalization totaling $3.12B.

For the stock Anavex Life Sciences Corporation (AVXL), the current short interest is at 32.48%. This represents a significant short interest change of 550,000 shares, corresponding to a short interest percentage increase of +2.29%. The days needed to cover the short positions amount to 18.8. The approximate worth of the shares held short is $217.87 million.

With the symbol MPW, the stock currently has a short interest of 35.00%. The short interest change is -3,850,000 shares, compared with a short interest percentage change of -2.18%. It would take approximately 13.6 days to cover all the short positions. The shares short value is estimated to be around $134.02 million. The company boasts an average daily volume of 12.20M shares, contributing to a market capitalization of $3.27B.

The stock ALT has a current short interest of 31.99%. The short interest percentage has experienced a decrease of -2.81% while there was a change of -630,000 shares in short interest. The ratio indicating the time required to cover short positions is 8.5. The calculated worth of the shorted shares amounts to around $773.31 million. Trading activity averages at 2.49M shares per day, while the company's market capitalization stands at $343.86M.

AI Stocks to Watch

According to our ST Score evaluation, Meta Platforms Inc (META) emerges as a high-quality stock in the AI industry, attaining an impressive score of 56. The stock's profitability, financial strength, and Piotroski Score are strong. However, its growth is weak. Additionally, it is neutral in terms of performance, stock sentiment, and forecast.

Our ST Score also classifies Alibaba Group Holding Ltd ADR (BABA) as a high-quality AI stock today, presenting a Score of 53. The stock has strong fundamentals in terms of profitability, performance, and Piotroski Score. The growth, financial strength, stock sentiment, and forecast are neutral.

Another stock in the category, Arista Networks Inc (ANET) has the ST Score of 53, which means that the stock carries the potential for higher returns. The stock is strong in profitability, and financial strength but weak in performance. Growth, stock sentiment, Piotroski Score, and forecast suggest a neutral outlook.

NICE Ltd ADR (NICE) stock has the ST Score of 55 which implies that the AI company has a high probability of beating the market. The stock's strengths lie in its profitability, and Piotroski Score, but its weaknesses are in its growth. However, it shows a neutral outlook in performance, financial strength, stock sentiment, and forecast.

Digital Realty Trust Inc (DLR) currently has the ST Score of 54, which signifies a huge upward potential. The strong points of AI stock are its profitability, performance, and Piotroski Score. The stock's growth, financial strength, 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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