It is extremely difficult to predict which stock on the stock market will suddenly lift investors from the bottom to the top. However, one biotechnology company demonstrated such a phenomenon: its shares soared by 177% in just one trading day, turning into a 'multibagger stock' for those who invested in it.
This sharp rise occurred after the release of important news. It should be noted that this concerns not the Russian market, but a company listed on the American stock market.
The American biotechnology company Moderna achieved impressive results. During trading on the previous day in the American market, its price rose from an initial $62.51 to $116.02. Following this initial surge, the growth continued, and the stock reached $176.66, showing an increase of over 177%, marking a new all-time high. By the close of trading on the American stock market, the growth continued, and Moderna's stock finished the day at $174.38, showing an increase of 173%.
Investors have been receiving stable returns from Moderna shares for a year. Over the past year, this pharmaceutical asset has grown by 548.49%, equivalent to a sixfold increase in investment amount, with a price increase of $147.49. Furthermore, over the last six months, Moderna shares showed strong multiple growth of 250%, and in the last month, they grew by 194%.
The success observed in the American stock market is linked to Moderna Inc., which is known for its Covid-19 vaccine. The reason for the one-day jump of 177% was the announcement of progress in the development of a new cancer vaccine that the company is developing jointly with Merck. It was announced that the mRNA-based experimental cancer treatment developed by both companies reached target indicators in late-stage melanoma trials.
Melanoma is a serious form of skin cancer. Dr. Ryan Sullivan, Director of the Melanoma Center at Brigham and Women's Hospital in Massachusetts General Hospital, told Reuters that this achievement is a significant breakthrough in this field.
