As fast as Covid vaccine supplier Moderna (MRNA) rallied, risks are high that it will give up those gains. MRNA stock broke out from $120 to $170 in May 2024. Yesterday, shares lost 8.05% to close at $153.20.
Wait for Moderna shares to re-test support levels at $100 - $120 before considering a position in the vaccine supplier. The firm does not have any near-term growth catalysts from its mRNA-based platform.
Builders Firstsource (BLDR), which supplies building products and equipment, is down by 24.2% from its 52-week high. In the first quarter, the firm posted flat revenue growth (+0.3% Y/Y) of $3.89 billion. For the year, the firm expects gross profit margin in the range of 30% to 33%. The firm will generate $1.0 billion to $1.2 billion in free cash flow this year. This is a financially healthy firm to consider.
MarketAxess Holdings (MKTX), which operates an electronic trading platform, lost 4.86% on Tuesday. The firm reported an increase in credit commission revenue of $174.8 million in the first quarter.
In this sector, investors may consider trading firms like Futu Holdings (FUTU). The firm reported revenue of $331.3 million, up by 3.7% Y/Y. Robinhood (HOOD) has strong prospects as well. The company initiated a $1 billion stock buyback plan yesterday.
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