Monday's Stocks to Watch: Moderna, Mosaic, and Marvell
The price volatility for the three companies may continue in Monday’s stock markets.
On May 31, Moderna (MRNA) won the U.S. Food and Drug Administration’s approval of its next-generation Covid-19 vaccine. The FDA approved mNEXSPIKE, or mRNA-1283, for adults who are aged 65 and older. People who are 12-64 years old and have at least one risk factor that makes them at risk if infected with Covid-19 are eligible.
This vaccine has refrigerator temperature stability. By comparison, Spikevax needed low-temperature freezers for storage. MRNA stock could head toward $30 next.
Mosaic (MOS) broke out of a $23 - $27 trading range in April, closing at $34.80 on June 6. The stock pulled back by 5.4% when the company lowered its guidance for the second quarter and year.
Mosaic expects Q2 phosphate sales volumes of 1.5 million – 1.6 million metric tons, compared to 1.7 million to 1.9 million previously. By comparison, potash sales volumes of 2.3 million to 2.5 million tons are unchanged from its previous forecast.
In the tech sector, Marvell (MRVL) is on track to trade toward $75. Speculators bought MRVL stock, along with Broadcom (AVGO), Intel (INTC), and Qualcomm (QCOM). CoreWeave (CRWV), an AI hyperscale supplier, is an IPO winner that lifted those stocks. CRVW IPO’d at $40 on opening day and closed at $140.16 last Friday.
