Back to top

Image: Bigstock

Moderna (MRNA) Takes to Lead in Covid Sweepstakes

Read MoreHide Full Article

Monday, November 30, 2020

Based on news this morning out of Moderna (MRNA - Free Report) , we may have found a winner in the Covid-19 vaccine sweepstakes. Final results are out from the Cambridge, MA biotech firm, and they are nothing short of stellar. Overall efficacy has reached 94.1%, with treatment of severe cases of Covid proving 100% effective. Further, there was no evidence that treatment lessened in efficacy in older patients. Although there was one fatality in the study (from the placebo group), this has got to be considered one of the great new vaccine prospects of the last 70 years.

The study had 30K subjects, and among them were 196 cases of Covid-19 — 30 of these were severe, all of which were from the placebo group. Of the breakdown in Covid cases from the study, 33 were aged 65 or older, with 42 patients hailing from what the study calls “diverse communities.” This great news for Moderna has sent shares up another 13% in early trading. The stock is already up more than 100% over the past six months, +542% year over year.

Nikola (NKLA - Free Report) shares are tanking in pre-market trading by 21% on an update to the news of a partnership with General Motors (GM - Free Report) : there’s still a partnership being formed, but not to the level investors believed from previous reports about it. Instead of investing $2 billion into the upstart EV maker — presumably for development of Nikola’s Badger truck — the partnership will not include any direct GM investment; instead, co-development of fuel cell systems looks to be the extent of the agreement, at least for now. The Badger looks to be an endangered species.

After today’s opening bell, we’ll see the new Chicago PMI data for November. Expectations for 58.0 is a bit lower than October’s reported 61.1, but it would mark the fifth straight month over 50, indicating expansion. Also, a 58.0 read would be ahead of the long-time average 54.6. In short, productivity for the U.S.’s third-largest city appears to remain strong.

Pending Home Sales for October are also out after today’s open, with another expected month north of 20 marking the strongest period of the year. Currently, we’re at four straight months of growth in pending home sales, although September’s figures were a little lighter than expected, with only the Northeast region having achieved gains month over month.

Questions or comments about this article and/or its author? Click here>>
https://www.zacks.com/bio/mark-vickery

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


The full Ahead Of Wall Street article

Moderna, Inc. (MRNA) - free report >>

General Motors Company (GM) - free report >>

Nikola Corporation (NKLA) - free report >>