Moderna Surges as Investors Assign Cancer Therapy Premium

Moderna (MRNA) shares rose again on Tuesday after the company shook out sellers in recent sessions, adding 14.36% to close at $158.83.

The gain is attributed to investors removing the COVID-era vaccine discount and assigning an mRNA cancer therapy premium, following a Phase 3 trial where Moderna's jointly developed therapy with Merck met its primary endpoint for treating melanoma.

Short-sellers hold 12.5% of MRNA stock, which may lead to further price volatility.

In other market news, Cisco Systems (CSCO) secured a partnership with Super Micro Computer (SMCI), expanding their Secure AI factory and facilitating AI deployment.