Today’s Market Movers: Walmart Guidance Disappoints, Moderna Retreats, Crypto Stocks Climb Thursday
TLDR
- Moderna shares fell 10% Thursday after surging 177% Wednesday on cancer vaccine news
- Coinbase, Robinhood, and Strategy rose sharply after Trump pushed Congress on crypto legislation
- Bitcoin climbed over 9% to around $71K, its highest level since June 2
- Walmart dropped 6.1% after raising full-year guidance below analyst expectations
- Webull jumped 14% after reporting record Q2 revenue of $198.8M, up 51% year-over-year
Moderna shares fell sharply Thursday morning, dropping around 10% ahead of the opening bell. This came after the pharma company’s stock surged 177% on Wednesday following news that its cancer vaccine, developed with Merck, showed strong results in melanoma patients.
The vaccine data showed it could stop cancer from returning or spreading. Analysts attributed Thursday’s pullback to profit-taking after such a large one-day gain.
Crypto Stocks Rally on Trump’s Legislation Push
Coinbase jumped 8%, Robinhood rose 5.8%, and Strategy added 10% Thursday. The gains came after President Donald Trump called on Congress to pass cryptocurrency legislation.
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