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.
Bitcoin climbed more than 9% to around $71,000. That is its highest price since June 2. The move also got support from the U.S. Treasury’s decision to double planned buybacks of longer-dated Treasuries to at least $4 billion per operation, which pushed long-term yields lower.
Circle Internet Group gained 5%, while Riot Platforms and Mara Holdings each rose around 3% to 5%. The broader crypto sector moved higher across the board.
Walmart Falls Despite Earnings Beat
Walmart dropped 6.1% after raising its full-year guidance. The problem was the raised guidance still fell short of what analysts had expected. That overshadowed a solid second-quarter earnings beat.
Alibaba fell 1.9% after its fiscal first quarter earnings missed analyst expectations. This happened even as the company’s artificial intelligence revenue grew strongly.
Webull was one of the day’s biggest winners, jumping 14%. The digital investment platform reported record Q2 revenue of $198.8M, beating estimates of $180.7M. Equity trading volume surged 73% year-over-year.
Ultragenyx Pharmaceutical rose 12% after the FDA granted accelerated approval to its gene therapy Genglycos for glycogen storage disease. The approval makes Genglycos the first therapy to address the underlying cause of this rare metabolic disorder.
Wolfspeed fell 10% after reporting a wider-than-expected quarterly loss. Its adjusted loss per share came in at $2.26 versus a consensus estimate of $1.47.
Coty dropped around 9% to 10% after posting a wider-than-expected loss. The beauty company said it expects revenue and adjusted gross margin to decline in the current quarter.
Deere bucked the negative trend, climbing 1.2% after reporting better-than-expected fiscal third quarter results.
Stock futures were under pressure Thursday as geopolitical tensions in the Middle East pushed Brent crude above $92 a barrel. That kept inflation concerns in focus for traders.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
