Key Highlights
- Moderna experienced a 10% decline Thursday following Wednesday’s extraordinary 177% rally on cancer treatment breakthrough
- Cryptocurrency-related stocks including Coinbase, Robinhood, and Strategy posted significant gains following presidential pressure on crypto regulation
- Bitcoin surged beyond 9% to approximately $71,000, marking its strongest performance since early June
- Walmart shares declined 6.1% despite upgrading annual projections that failed to meet Street expectations
- Webull soared 14% following disclosure of Q2 revenue reaching $198.8M, representing 51% annual growth
Shares of Moderna experienced significant downward pressure Thursday morning, declining approximately 10% in pre-market trading. The selloff followed Wednesday’s dramatic 177% rally triggered by promising clinical data on the company’s melanoma vaccine, developed in partnership with Merck.
The experimental vaccine demonstrated effectiveness in preventing cancer recurrence and metastasis in melanoma patients. Market observers characterized Thursday’s decline as typical profit-taking behavior following such an exceptional single-session gain.
Digital Asset Stocks Surge Following Presidential Intervention
Coinbase advanced 8%, Robinhood climbed 5.8%, and Strategy posted a 10% gain Thursday. The cryptocurrency sector’s momentum followed President Donald Trump’s public appeal to lawmakers to advance digital currency legislation.
Bitcoin’s value increased over 9% to approximately $71,000, representing its peak valuation since June 2. Additional support came from the U.S. Treasury Department’s announcement to expand planned purchases of longer-maturity Treasury securities to a minimum of $4 billion per transaction, contributing to declining long-term interest rates.
Circle Internet Group appreciated 5%, while both Riot Platforms and Mara Holdings registered gains between 3% and 5%. The cryptocurrency-exposed equity segment experienced widespread upward momentum.
Walmart Shares Retreat Despite Quarterly Performance
Walmart declined 6.1% following an upward revision to full-year projections. However, the updated forecast remained below analyst consensus, negating positive sentiment from second-quarter results that exceeded expectations.
Alibaba retreated 1.9% after reporting fiscal first quarter performance that disappointed analysts, despite robust growth in the company’s artificial intelligence-related revenue streams.
Webull emerged as a standout performer, surging 14%. The online brokerage platform disclosed record second-quarter revenue of $198.8M, surpassing analyst projections of $180.7M. Year-over-year equity trading activity expanded 73%.
Ultragenyx Pharmaceutical advanced 12% following FDA accelerated approval of Genglycos, its gene therapy treatment for glycogen storage disease. The authorization establishes Genglycos as the first treatment targeting the fundamental cause of this uncommon metabolic condition.
Wolfspeed retreated 10% after disclosing a quarterly loss exceeding forecasts. The company’s adjusted per-share loss of $2.26 significantly exceeded the consensus projection of $1.47.
Coty declined between 9% and 10% after reporting losses larger than anticipated. The cosmetics manufacturer projected revenue and adjusted gross margin contraction for the ongoing quarter.
Deere defied the negative sentiment, gaining 1.2% following fiscal third quarter results that topped analyst estimates.
Equity index futures faced headwinds Thursday as escalating Middle Eastern geopolitical tensions drove Brent crude prices above $92 per barrel, maintaining investor focus on inflationary pressures.
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