Investors speculated on Covid vaccine firms. Despite the seasonal strength for flu-related vaccines ending, Moderna (MRNA) gained 11.65% to close at $47.53.
Pfizer (PFE), BioNTech (BNTX), Arcturus Therapeutics (ARCT), and Novavax (NVAX) rallied. The Centers for Disease Control and Prevention announced respiratory illness data in the last week. Covid infections are more frequent alongside a concurrent increase in seasonal flu activity. The CDC encouraged people on immunization to reduce infection risks.
Palantir (PLTR) attracted sellers after ARK Invest sold $15 million in shares. Panicking investors are making a mistake by following the actively managed ETF. However, PLTR stock gained more than 330% last year. Taking some profits but keeping a core position in Palantir would make sense.
Palantir has a strong future in selling AI-powered software that helps hospitals and the military in making critical decisions.
AppLovin (APP) dropped by 7.02% to close at $330.01. The stock is likely to fall alongside the decline in Nasdaq (QQQ). The firm has an impressive growth rate. Its forward P/E, however, is around 80 times. Investors who missed the strong gain in PLTR stock should not start a position yet. Wait for better prices, especially if the technology sector continues to underperform.
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