Moderna Inc.'s (NASDAQ:MRNA) stock has staged a dramatic comeback this week, adding billions in market value and delivering a windfall for investors in a leveraged ETF tied to the biotech company as traders bet on a favorable regulatory outcome for its seasonal flu vaccine.
Shares of Moderna climbed nearly 60% over the past five trading sessions, boosting the company's market capitalization by roughly $6.2 billion to about $24 billion, according to Trefis.
The rally accelerated after the U.S.
Food and Drug Administration released briefing documents ahead of a closely watched advisory committee meeting on Moderna's mRNA-based seasonal flu vaccine, mFlusiva.
The move has been even more pronounced in the Defiance Daily Target 2X Long MRNA ETF (NYSE:MRNX), which seeks to deliver twice the daily performance of Moderna stock.
