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One of the wildest stock moves last week had nothing to do with AI – until suddenly, it did.
Last Wednesday, Moderna, Inc. (MRNA) soared 177% after reporting positive Phase 3 trial results for its personalized mRNA cancer vaccine. The treatment is being developed with Merck & Company, Inc. (MRK), for patients with melanoma.
The positive trial results sparked the rally, which was then amplified by heavy short covering.
At the same time, money suddenly flowed out of several AI stocks.
