We recently published a list of 10 Firms Kick Off Shortened Trading Week With Impressive Gains. In this article, we are going to take a look at where Moderna, Inc. (NASDAQ:MRNA) stands against firms that kick off shortened trading week with impressive gains.
The stock market kicked off the shortened trading week on a positive note, with all major indices finishing in the green territory as investors continued to monitor more corporate earnings results.
The S&P 500 led the charge among its peers, recording a modest 0.24 percent gain. The Dow Jones and the tech-heavy Nasdaq were similarly up, albeit posting lackluster gains of only 0.02 percent and 0.07 percent, respectively.
In comparison, 10 companies delivered stronger performances thanks to continued investor confidence. One company in particular stood out for jumping more than 100 percent in just two trading days.
To come up with Tuesday’s top performers, 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) ended firmer for a third day, adding 8.37 percent to end Tuesday’s trading at $35.75, as investors took path from the company’s long-term outlook, shunning dismal earnings performance last year.
In its earnings release on Friday, Moderna (NASDAQ:MRNA) said it would focus on driving sales this year and deliver up to 10 product approvals until 2027.
“By the end of 2025, we aim to remove nearly $1 billion in costs. With strong momentum in our late-stage pipeline, we anticipate multiple approvals starting this year, along with key Phase 3 readouts that will support our long-term growth,” said MRNA CEO Stephane Bancel.
In the fourth quarter of 2024, MRNA swung to a net loss of $1.12 billion versus a net income of $217 million in the same period a year earlier. However, net losses narrowed by 24 percent for the full year, ending at $3.561 billion versus $4.7 billion in 2023.
Revenues for the quarter also fell by 66 percent to $966 million from $2.811 billion year-on-year, while revenues for the full year plummeted by $3.236 billion from $6.848 billion in the same comparable period.
Overall, MRNA ranks 8th on our list of firms that kick off shortened trading week with impressive gains. 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.
