Quick Summary
- Moderna (MRNA) declined 10% Thursday following Wednesday’s 177% surge driven by positive cancer vaccine trial results
- Cryptocurrency-related stocks including Coinbase (COIN), Robinhood (HOOD), and Strategy soared after President Trump urged legislative action on crypto
- Bitcoin surged more than 9% to approximately $71,000, reaching its highest point since early June
- Walmart (WMT) slid 6.1% despite increasing full-year outlook, which remained under analyst projections
- Webull surged 14% following disclosure of record Q2 revenue totaling $198.8M, representing 51% annual growth
Shares of Moderna experienced a significant downturn Thursday morning, declining approximately 10% in pre-market trading. The selloff followed Wednesday’s extraordinary 177% rally triggered by promising clinical trial data for its melanoma vaccine developed in partnership with Merck.
The experimental cancer treatment demonstrated effectiveness in preventing melanoma recurrence and metastasis. Market observers characterized Thursday’s decline as typical profit-taking behavior following such a dramatic single-session advance.
Cryptocurrency Equities Surge Following Presidential Call for Legislation
Coinbase advanced 8%, Robinhood climbed 5.8%, and Strategy increased 10% during Thursday’s session. The rally followed President Donald Trump’s appeal to Congress for comprehensive cryptocurrency regulatory framework.
Bitcoin’s value increased by over 9%, reaching approximately $71,000āits highest valuation since June 2. The upward momentum received additional support from the U.S. Treasury’s announcement to double its buyback operations of longer-maturity government bonds to a minimum of $4 billion per operation, contributing to declining long-term yields.
Circle Internet Group appreciated 5%, while Riot Platforms and Mara Holdings each posted gains ranging from 3% to 5%. The cryptocurrency sector experienced widespread positive momentum.
Walmart (WMT) Declines Despite Strong Quarterly Performance
Walmart shares retreated 6.1% following its updated full-year forecast. Although the company increased its guidance, the revised projections remained below Wall Street consensus estimates, overshadowing an otherwise strong second-quarter earnings performance.
Alibaba decreased 1.9% after delivering fiscal first quarter results that disappointed analysts, despite reporting robust growth in artificial intelligence-related revenue streams.
Webull emerged as one of Thursday’s standout performers, rallying 14%. The online brokerage platform disclosed record second-quarter revenue of $198.8M, surpassing analyst estimates of $180.7M. The company’s equity trading volume expanded 73% compared to the prior-year period.
Ultragenyx Pharmaceutical advanced 12% following FDA accelerated approval for Genglycos, its gene therapy treatment for glycogen storage disease. The authorization establishes Genglycos as the first therapeutic option targeting the root cause of this uncommon metabolic condition.
Wolfspeed declined 10% after disclosing a quarterly loss significantly wider than anticipated. The company’s adjusted loss per share of $2.26 substantially exceeded the consensus forecast of $1.47.
Coty retreated approximately 9% to 10% following a larger-than-expected loss. The cosmetics manufacturer projected revenue and adjusted gross margin declines for the upcoming quarter.
Deere resisted the broader negative sentiment, advancing 1.2% after delivering fiscal third quarter results that exceeded analyst expectations.
Equity index futures traded lower Thursday as escalating Middle East geopolitical tensions drove Brent crude oil prices above $92 per barrel, maintaining inflation-related concerns among market participants.
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