Moderna Therapeutics’ Stock Price Soared, Then Gave Back Its Gains in Two Consecutive Days
To begin with, most, if not all, development-stage firms are yo-yo games played by day traders and investors whose strategies are buying low and selling high. These people also buy and sell on encouraging news and bad news; if their eyes happen to fall on any fundamental news.
One of the criteria that boost the selloffs of development-stage firms like Moderna Therapeutics (MRNA) is financing through dilution. They cause the stocks’ selloffs and their followers oblige. This is what happened to MRNA after market trading yesterday.