New Variant = +15% for MRNA
Shares of Moderna (MRNA) are up 15% this morning, with early session prices around $315 a share.
The reason? Yet another new COVID variant - designated B.1.1.529 - found in southern Africa.
New mutations are discovered all the time, but this one has authorities concerned enough that the UK cut off all flights to countries in the southern cone of Africa. I'm sure more nations will follow suit.
I warned 2 weeks ago that something might be up because airline and cruise stocks were way down - as was the price of oil - with winter setting in and global immunization levels still at low levels.
The latest news has put COVID-fighting stocks like MRNA back in focus again.
Likewise, I recently added a new COVID-fighter stock to the goodBUYs portfolio - it's also up by double-digit percentage points on today's news (the name of the stock is reserved for premium subscribers).
As I write this, Moderna (MRNA)'s shares are up about 16% at around $318.
The potential opportunity in the days ahead is that if we see more such COVID headlines, MRNA could quickly run to $350, thus closing a gap created in early November when the company disappointed investors with its Q3 profit report.
With $350 on the table, Moderna might only be a few more COVID mutation headlines away from getting back to its all-time highs near $500 by early next year.
Best of goodBUYs,