We recently published a list of 10 Firms Post Strong Gains Amid Wall Street Bloodbath. In this article, we are going to take a look at where Moderna, Inc. (NASDAQ:MRNA) stands against other firms post strong gains amid Wall Street bloodbath.
Wall Street’s main indices closed sharply in the red on Tuesday, as investors shifted to other higher-yielding assets following better Treasury yields.
The Nasdaq Composite led the drop, losing 1.89 percent, followed by the S&P 500 declining 1.11 percent. Meanwhile, the Dow Jones dipped by 0.42 percent.
Meanwhile, let us look at the ten firms that bucked an overall broader market downturn and posted notable gains and explore why.
To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A scientist surrounded by vials and beakers in a modern laboratory, proudly displaying a vaccine.
Moderna, Inc. (NASDAQ:MRNA)
Shares of Moderna Inc. (NASDAQ:MRNA) jumped by 11.65 percent on Tuesday, adding $4.96 to end at $47.53 each after the US reported its first bird flu death, with investor sentiment buoyed by potential demand for a new drug to protect against the virus.
The Centers for Disease Control and Prevention added there have been 66 human cases of the strain in the US in total since the start of last year.
The agency, however, said the risk of contracting the virus remains low, especially with no human transmission recorded.
In other news, Moderna (NASDAQ:MRNA) is partnering with Pfizer, GSK, and CureVac to develop vaccines incorporating mRNA technology. Moderna won a $176 million award from the US government in July to develop the shot.
Overall, MRNA ranks 4th on our list of firms post strong gains amid Wall Street bloodbath. While we acknowledge the potential of MRNA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MRNA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.