Moderna shares jump on vaccine hope!
Shares in biotech company Moderna Inc, jumped higher on Wednesday after the company reported a potential vaccine that could be as good as Pfizer's 90% effectiveness. Earlier in the week, Pfizer's trial results sent risk assets flying higher.
However, with markets already overextended the broader move to Moderna's news has been limited. The company is using similar mRNA technology to Pfizer's and the results are due to go to the monitoring board soon in the next few days for the final verdict.
The results could be huge for Moderna's stock price which is already up more than 300% this year, helping it secure a place in the Nasdaq 100 index as well. Shares have already jumped more than 8% to $82.44 on the expectation of the news announcement.
Did you know that you can speculate on the direction of Moderna's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade Moderna with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the share price of Moderna you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Moderna and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #MRNA, Daily - Data range: Jul 16, 2016, to Nov 12, 2020, performed on Nov 12, 2020, at 6:53 am BST. Please note: Past performance is not a reliable indicator of future results.
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