Wednesday’s hottest stocks will attempt to shake off heavy selling pressure in yesterday’s stock market. Moderna (MRNA) continuing its bullish uptrend by rising 13.12% to $112.50. Investors responded to Oppenheimer’s upgrade to Outperform from Perform. The analysts are optimistic that Moderna may advance its pipeline beyond Covid vaccines.
The upgrade has risks. The vaccine outlook for Covid weakened considerably in the last few quarters. Patient investors will need to wait for Moderna’s drug development to reach the commercialization phase.
A.P. Moller – Maersk (AMKBY) resumed its pause in the Red Sea. During the weekend, one of its ships issued two distress calls in less than 24 hours. A missile struck its ship in the first incident. In the second incident, crew on boats originating from Yemen tried to board its vessel.
Shipping investors are betting on higher shipping day rates. Bulls are trying to create a short squeeze with ZIM Integrated Shipping (ZIM) stock, where the short interest is 24.2%.
In China, electric vehicle investors will bet on Nio finding support at $8.00. The firm posted deliveries of 18,012 in December 2023, up by 13.9% Y/Y.
In e-commerce, Alibaba (BABA) is on a firm downtrend. China search giant Baidu (BIDU), after three years, abandoned its deal to buy JOYY’s (YY) live-streaming business for $3.6 billion. Expect volatile trading for these three firms.
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