Wednesday’s Headlines: Yet Another Vaccine Hopeful?
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Align Technology (ALGN) +10.9%
Boston Beer Co. (SAM) +5.6%
Evolent Health (EVH) +5.0%
Ford Motor Company (F) +5.0%
Trupanion (TRUP) +4.2%
Moving Down ⬇️
Atlassian (TEAM) -3.0%
Slack Technologies (WORK) -3.1%
Baozun (BZUN) -3.2%
Intuit (INTU) -4.1%
Teladoc (TDOC) -4.2%
1. Yet another vaccine hopeful has cropped up after Moderna (MRNA) became the latest pharma giant to claim their product successfully produces antibodies to the coronavirus. Naturally, the news sent the major indexes into green territory pre-market as hopes for a faster economic recovery and a reduction in re-MRNAclosures caused optimism in investors. Shares in Moderna itself soared as much as 20% after-hours, but — forgive my pessimism — this isn’t the first vaccine song and dance we’ve had, so investors would do well to take the news with a pinch of salt. Read the full story here.
2. Pandemic or not, people need their teeth looking their best, which appears to be the sentiment behind Align Technology’s (ALGN) 10.9% leap on Tuesday. While the Nasdaq (QQQ) claws its way back from Monday’s rout, Align investors are optimistic about its long-term outlook, with analysts predicting that missed sales due to COVID will take place when lockdowns lift. Banking on pent-up demand for its orthodontics equipment may be a long shot, but investors need hope for Align, which has seen its offices closed since March. Read more here.
3. Tesla (TSLA) who? Ford (F) shares galloped ahead on Tuesday to close up 5% after unveiling its brand new 2021 Bronco unit. After offering $100 reservations for the popular series, Ford’s Bronco site reportedly crashed due to demand, with investors expecting the vehicle to inject fresh life into the beleaguered car maker. Shares in Ford have fallen 32% YTD as production ground to a halt, while rival Tesla has since soared 252% to become the world’s most valuable car manufacturer. Get the full story here.