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Top Stocks To Short Today As The Fed Keeps Investors On Their Toes

Growth stocks got rocked, and it started feeling like the end of February again. In anticipation of Jay Powell’s statement later in the day on the economy’s state and interest rates, the 10-year yield hit its highest level 13-months. The 30-year rate also jumped to its highest level since November 2019. Anxious investors did not like this very much, and although the Dow Jones gained 40 points, the S&P 500 fell 0.4%, and the Nasdaq dropped 1.1%. Apple, Alphabet, Facebook, and Netflix also all declined, while Tesla tanked more than 2%. Investors are essentially in wait-and-see mode for this trading day. Market moves will largely depend on what Powell says- or doesn’t say. The deep learning algorithms at Q.ai have crunched the data to give you a set of Top Shorts. Our Artificial Intelligence (“AI”) systems assessed each firm on parameters of Technicals, Growth, Low Volatility Momentum, and Quality Value to find the best short plays.

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Cal-Maine Foods Inc (CALM)

Cal-Maine Foods is our first Top Short for the second consecutive day. Cal-Maine is a Mississippi-based producer of fresh eggs, and is responsible for nearly 25% of all egg consumption in the US. Our AI systems rated the company C in Technicals, F in Growth, C in Low Volatility Momentum, and D in Quality Value. The stock closed down 2.04% to $41.77 on volume of 200,613 vs its 10-day price average of $41.76 and its 22-day price average of $40.16. , and is up 12.13% for the year. Revenue grew by 6.47% in the last fiscal year, Operating Income grew by 1027.3% in the last fiscal year, and EPS grew by 262.69% in the last fiscal year. Revenue was $1351.61M in the last fiscal year compared to $1502.93M three years ago, Operating Income was $6.27M in the last fiscal year compared to $181.73M three years ago, EPS was $0.38 in the last fiscal year compared to $2.6 three years ago, and ROE was 1.83% in the last year compared to 14.02% three years ago. Forward 12M Revenue is expected to grow by 3.28% over the next 12 months, and the stock is trading with a Forward 12M P/E of 162.21.

MORE FROM FORBESCal-Maine Foods (CALM)

Liberty Media Formula One (FWONK)

Liberty Media Formula One is our second Top Short today. The company, which also has interests with Sirius XM Radio and the MLB’s Atlanta Braves, owns iconic global motorsports franchise Formula One. Our AI systems rated the media conglomerate B in Technicals, D in Low Volatility Momentum, and D in Quality Value. The stock closed up 1.81% to $47.86 on volume of 2,182,951 vs its 10-day price average of $46.0 and its 22-day price average of $45.56, and is up 17.1% for the year. Revenue was $1145.0M in the last fiscal year compared to $1827.0M three years ago, Operating Income was $(444.0)M in the last fiscal year compared to $(110.0)M three years ago, EPS was $(2.57) in the last fiscal year compared to $(0.65) three years ago, and ROE was (10.07%) in the last year compared to (2.67%) three years ago.

MORE FROM FORBESLiberty Media Formula One (FWON.K:)

Livent Corp (LTHM) 

rated C in Technical, F in Growth, F in Momentum Volatility, F in Quality Value closed down 2.78% to $18.17 on volume of 2,122,971 vs its 10-day price average of $17.91 and its 22-day price average of $19.2. The stock is  down 3.25% for the year. Revenue was $288.2M in the last fiscal year, and compares to $442.5M three years ago. Operating Income was $(10.8)M in the last fiscal year, and compares to $165.7M three years ago. EPS was $(0.13) in the last fiscal year, and compares to $0.99 three years ago. ROE was (3.41%) in the last year, and compares to 28.94% three years ago. Trading with a Forward 12M P/E of 159.02.

MORE FROM FORBESLivent (LTHM)

Progyny Inc (PGNY)

Our final Top Short of the day is Progyny Inc. Progyny Inc is a leading U.S. fertility benefits management company. Our AI systems rated the company F in Growth, F in Low Volatility Momentum, and D in Quality Value. The stock closed up 0.42% to $48.02 on volume of 417,140 vs its 10-day price average of $45.08 and its 22-day price average of $46.75, and is up 11.83% for the year. Revenue was $344.86M in the last fiscal year compared to $105.4M three years ago, Operating Income was $17.67M in the last fiscal year compared to $(3.45)M three years ago, EPS was $0.47 in the last fiscal year compared to $0.04 three years ago, and ROE was 33.04% in the last year compared to (46.91%) three years ago. The stock is also trading with a Forward 12M P/E of 110.82.

MORE FROM FORBESProgyny (PGNY)

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