One of the most common questions traders have about stocks is “Why Is It Moving?”
That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.
Here’s why shares of Moderna, Plug Power, AMC and GameStop are moving Thursday.
Moderna Inc (NASDAQ:MRNA) shares are trading higher after the company announced it shipped its variant-specific vaccine candidate, mRNA-1273.351, to the NIH for a clinical study. The company also reported that fourth-quarter sales results are up from last year.
Moderna is a clinical-stage biotechnology company that develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases and cardiovascular diseases. The company has been at the forefront of COVID-19 vaccine research and development.
Plug Power Inc (NASDAQ:PLUG) shares are trading lower after the clean energy manufacturing company reported a fourth-quarter loss of $1.12 per share, compared to losses of 6 cents per share from the same period last year.
Plug provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.
AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher on continued momentum from late Wednesday amid a spike in stocks that are popular on r/WallStreetBets.
AMC was also trading higher this week after the company announced it will reopen its 13 theaters in New York City on March 5.
The rally came after New York Gov. Andrew Cuomo announced that theaters in the state are permitted to reopen next month.
GameStop Corp. (NYSE:GME) shares are trading higher after the stock spiked on heavy volume. The stock in January saw a surge driven by high retail investor interest.
Noteworthy news from Tuesday that executive vice president and Chief Financial Officer Jim Bell is resigning from GameStop on March 26 might be driving interest in the stock once again.
The company has launched a search for a permanent CFO who can help “accelerate GameStop’s transformation,” according to the press release.
GameStop has retained a leading executive search firm to help in the process of evaluating internal and external candidates.
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