Moderna and Webull among top gainers as US indices close higher
The major US indices closed higher on Wednesday, with the Dow Jones Industrial Average rising 0.22% to 53,463.05, the S&P 500 gaining 0.21% to 7,707.98 and the Nasdaq advancing 0.16% to 26,331.09.
Among the top stocks that gained attention from retail traders and investors was Moderna Inc., whose shares skyrocketed by 176.97%, closing at $174.38 after hitting an intraday high of $176.66 and a low of $114.46, marking a new 52-week high.
The surge in Moderna's stock is attributed to its personalized mRNA cancer vaccine with Merck succeeding in a Phase 3 melanoma trial, marking the first Phase 3 win for an mRNA-based cancer treatment.
This result could shift investor perception of Moderna from a post-pandemic vaccine maker towards a potential oncology platform.
Other stocks that gained attention include Webull Corp, whose shares rose by 8.95%, closing at $8.64 after reporting second-quarter revenue of $198.83 million, up 51% year-over-year and above the $181.26 million estimate, while adjusted EPS of 5 cents beat expectations of 3 cents.
Bitmine Immersion Technologies Inc.'s stock climbed 10.72%, closing at $20.24 after the momentum in digital asset markets, as Bitcoin (BTC) and Ethereum (ETH) prices surged, boosted its treasury of crypto, cash, and investments to $11.4 billion.