QUICK SUMMARY

• Daily performance of US indices: S&P 500 down -0.77%; Nasdaq Composite down -0.87%; Wilshire 5000 down -0.77%
• 26.1% of S&P 500 stocks were up today, with 72.1% of stocks above their 200-day moving average (DMA) and 48.9% above their 50-DMA
• Top performing sectors in the S&P 500: energy down -0.04% and materials down -0.05%
• Bottom performing sectors in the S&P 500: utilities down -1.38% and real estate down -1.23%
• The number of shares in the S&P 500 traded today was 491m for a total turnover of US$ 62 bn
• The S&P 500 Value Index was down -0.7%, while the S&P 500 Growth Index was down -0.8%; the S&P small caps index was down -1.0% and mid caps were down -0.9%
• The volume on CME's INX (S&P 500 Index) was 1.8m (3-month z-score: -0.3); the 3-month average volume is 2.0m and the 12-month range is 0.8 - 5.1m
• Daily performance of international indices: Europe Stoxx 600 down -0.26%; UK FTSE 100 up 0.07%; China CSI 300 up 0.88%; Japan's TOPIX 500 up 1.24%

VOLATILITY

• 1-month at-the-money implied volatility on the S&P 500 at 13.9%, down from 15.7%
• 1-month at-the-money implied volatility on the Europe Stoxx 600 at 13.3%, up from 12.6%

TOP WINNERS

• Iveric Bio Inc (ISEE), up 62.5% to $14.12 / YTD price return: +104.3% / 12-Month Price Range: $ 4.83-10.94 / Short interest (% of float): 11.0%; days to cover: 4.3
• Echo Global Logistics Inc (ECHO), up 52.3% to $47.70 / 12-Month Price Range: $ 25.00-37.65 / Short interest (% of float): 3.1%; days to cover: 3.9
• Affirm Holdings Inc (AFRM), up 34.4% to $123.70 / 12-Month Price Range: $ 46.50-146.90 / Short interest (% of float): 6.1%; days to cover: 2.8
• IronNet Inc (IRNT), up 24.6% to $21.57 / 12-Month Price Range: $ 9.37-29.96 / Short interest (% of float): 1.2%; days to cover: 3.3
• Adagio Therapeutics Inc (ADGI), up 14.9% to $53.90 / 12-Month Price Range: $ 20.50-48.37 / Short interest (% of float): 0.1%; days to cover: 0.0
• Denison Mines Corp (DNN), up 12.8% to $1.59 / 12-Month Price Range: $ .30-1.81 / Short interest (% of float): 3.0%; days to cover: 3.7
• National Beverage Corp (FIZZ), up 12.3% to $52.55 / YTD price return: +23.8% / 12-Month Price Range: $ 31.91-98.22
• SEMrush Holdings Inc (SEMR), up 12.1% to $31.32 / 12-Month Price Range: $ 10.62-29.25 / Short interest (% of float): 6.5%; days to cover: 3.1
• NGM Biopharmaceuticals Inc (NGM), up 9.9% to $23.36 / 12-Month Price Range: $ 14.90-32.12 / Short interest (% of float): 1.1%; days to cover: 2.0
• Ironsource Ltd (IS), up 9.8% to $11.51 / 12-Month Price Range: $ 7.80-13.19 / Short interest (% of float): 1.9%; days to cover: 8.5

BIGGEST LOSERS

• Apellis Pharmaceuticals Inc (APLS), down 37.2% to $34.93 / YTD price return: -38.9% / 12-Month Price Range: $ 28.37-73.00 / Short interest (% of float): 7.3%; days to cover: 5.7 (the stock is currently on the short sale restriction list)
• RLX Technology Inc (RLX), down 16.8% to $5.74 / 12-Month Price Range: $ 3.70-35.00 / Short interest (% of float): 2.9%; days to cover: 1.9 (the stock is currently on the short sale restriction list)
• Hippo Holdings Inc (HIPO), down 14.4% to $5.87 / 12-Month Price Range: $ 3.78-15.05 / Short interest (% of float): 0.1%; days to cover: 1.5 (the stock is currently on the short sale restriction list)
• Xos Inc (XOS), down 14.2% to $7.17 / YTD price return: -28.8% / 12-Month Price Range: $ 5.65-16.00 / Short interest (% of float): 6.0%; days to cover: 8.1 (the stock is currently on the short sale restriction list)
• Gevo Inc (GEVO), down 12.7% to $6.93 / 12-Month Price Range: $ .77-15.57 / Short interest (% of float): 14.0%; days to cover: 4.3 (the stock is currently on the short sale restriction list)
• Maravai LifeSciences Holdings Inc (MRVI), down 11.8% to $47.08 / YTD price return: +67.8% / 12-Month Price Range: $ 23.62-63.55 / Short interest (% of float): 2.0%; days to cover: 1.7 (the stock is currently on the short sale restriction list)
• Latham Group Inc (SWIM), down 11.2% to $18.20 / 12-Month Price Range: $ 19.46-34.73 / Short interest (% of float): 3.8%; days to cover: 9.0 (the stock is currently on the short sale restriction list)
• Mcafee Corp (MCFE), down 10.4% to $20.90 / YTD price return: +46.3% / 12-Month Price Range: $ 12.67-28.23 / Short interest (% of float): 3.4%; days to cover: 2.7 (the stock is currently on the short sale restriction list)
• CLARIVATE PLC (CLVT), down 10.0% to $23.75 / YTD price return: -20.1% / 12-Month Price Range: $ 20.82-34.79 (the stock is currently on the short sale restriction list)
• Rocket Lab USA Inc (RKLB), down 9.8% to $18.69 / YTD price return: +84.9% / 12-Month Price Range: $ 9.50-21.34 / Short interest (% of float): 0.3%; days to cover: 0.9 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

NEW IPOs ANNOUNCED OR PRICED

• Marblegate Acquisition Corp / United States of America - Financials / Listing Exchange: Nasdaq / Ticker: GATEU / Gross proceeds (including overallotment): US$ 300.00m (offering in U.S. Dollar) / Bookrunners: Cantor Fitzgerald & Co
• MREIT Inc / Philippines - Real Estate / Listing Exchange: Philippine / Ticker: MREIT / Gross proceeds (including overallotment): US$ 167.93m (offering in Philippine Peso) / Bookrunners: UBS Singapore, BDO Capital Investment Corp, DBS Bank Ltd, Credit Suisse (Singapore) Ltd

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

• WillScot Mobile Mini Holdings Corp / United States of America - Consumer Products and Services / Listing Exchange: Nasdaq / Ticker: WSC / Gross proceeds (including overallotment): US$ 610.19m (offering in U.S. Dollar) / Bookrunners: Morgan Stanley & Co LLC
• agilon health inc / United States of America - Healthcare / Listing Exchange: New York / Ticker: AGL / Gross proceeds (including overallotment): US$ 510.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, JP Morgan Securities LLC, Bofa Securities Inc
• McAfee Corp / United States of America - High Technology / Listing Exchange: Nasdaq / Ticker: MCFE / Gross proceeds (including overallotment): US$ 450.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Morgan Stanley & Co LLC
• Ortho Clinical Diagnostics Holdings Plc / United States of America - Healthcare / Listing Exchange: Nasdaq / Ticker: OCDX / Gross proceeds (including overallotment): US$ 385.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, JP Morgan Securities LLC
• Blackstone Mortgage Trust Inc / United States of America - Real Estate / Listing Exchange: New York / Ticker: BXMT / Gross proceeds (including overallotment): US$ 314.50m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc, Wells Fargo Securities LLC, Morgan Stanley & Co LLC, JP Morgan Securities LLC, Bofa Securities Inc, Barclays Capital Inc
• Fortress Transportation & Infrastructure Investors LLC / United States of America - Industrials / Listing Exchange: New York / Ticker: FTAI / Gross proceeds (including overallotment): US$ 306.00m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc, Morgan Stanley & Co LLC, Barclays Capital Inc
• Sea Ltd / Singapore - High Technology / Listing Exchange: New York / Ticker: SE / Gross proceeds (including overallotment): US$ 3,498.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs (Asia), JP Morgan Securities LLC, Bofa Securities Inc
• Nordea Bank Abp / Finland - Financials / Listing Exchange: RTS Board / Ticker: NDA SE / Gross proceeds (including overallotment): US$ 880.92m (offering in EURO) / Bookrunners: BofA Securities Europe SA
• Global-E Online Ltd / Israel - High Technology / Listing Exchange: Nasdaq / Ticker: GLBE / Gross proceeds (including overallotment): US$ 768.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, Jefferies LLC, Morgan Stanley & Co LLC, Bofa Securities Inc
• Clarivate PLC / United Kingdom - High Technology / Listing Exchange: New York / Ticker: CLVT / Gross proceeds (including overallotment): US$ 650.00m (offering in U.S. Dollar) / Bookrunners: Citigroup Global Markets Inc, Barclays Capital Inc
• Orient Overseas (International) Ltd / Hong Kong - Industrials / Listing Exchange: Hong Kong / Ticker: 316 / Gross proceeds (including overallotment): US$ 450.03m (offering in Hong Kong Dollar) / Bookrunners: JP Morgan Securities (Asia) Ltd (Hong Kong)
• FLSmidth & Co A/S / Denmark - Materials / Listing Exchange: OMX Copen / Ticker: FLS-KO / Gross proceeds (including overallotment): US$ 232.06m (offering in Danish Krone) / Bookrunners: Danske Bank, Nordea Bank Danmark A/S, JP Morgan AG