Moderna hit new ATH, company will join the S&P 500 index on Wednesday

Moderna (MRNA.US), an American company best known for its Covid-19 vaccine, was observed by many investors in recent days. Moderna shares have been gaining for several sessions in a row, climbing to new all-time high. Over the past week, the price has already increased by over 30%. From where did such strong price increases come from?

Before the session on July 21 (Wednesday), the company will join the S&P 500 index. The announcement from the index operator appeared last Thursday and led to increased interest in the company's shares during Friday's session during which the local volume high was also recorded. However, this does not change the fact that the upward movement continues, as the company may also benefit from the growing number of new coronavirus cases, and it should be remembered that in many underdeveloped countries the percentage of vaccinated people is still very low.

Moderna stocks (MRNA.US) broke above the $ 300 barrier today and price continues to climb higher. The gains clearly picked up after the price broke above the line drawn at the recent highs. If sellers manage to regain control, then the line should act as the first major support. Source: xStation5