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Stocks Today Fall But Moderna Surges Off Key Level; This Pot Stock Tanks 12%, Teladoc Drops

The Dow Jones Industrial Average showed a mildly lower start in stocks today, down roughly 0.3% but keeping most of its moderate gains over the prior three sessions. Other indexes dropped harder. FAANG stocks showed mixed action in the early going. Moderna (MRNA), the Covid-19 vaccine leader, jumped more than 8% on Q4 results.




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The biotech, a leader in messenger RNA technology, recently failed to break out of a new base. But it’s now getting solid buying support at the critical 50-day moving average. MRNA is also up sharply after surpassing a prior cup base with a 95.31 entry point.

Meanwhile, Teladoc (TDOC) sank for a fourth straight session after reporting a net loss of $3.74 a share in the fourth quarter. The online health-care provider posted accelerating top-line growth; Q4 revenue surged 145% to $383.3 million.

TDOC, testing its own 50-day line, is shaving gains from a big base that contains the elements of a double bottom and a handle entry at 236.76.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 31850.94 -110.92 -0.35
S&P 500 (0S&P5) 3901.45 -23.98 -0.61
Nasdaq (0NDQC ) 13475.28 -122.69 -0.90
Russell 2000 (IWM) 226.13 -0.87 -0.38
IBD 50 (FFTY) 46.33 -0.60 -1.28
Last Update: 10:14 AM ET 2/25/2021

Just after 10:15 a.m. ET, the Nasdaq and S&P 500 sank nearly 0.9% and 0.5%, respectively. Within the blue chip index, at least three components rose 1 point or more in the early going, including Covid-19 single-shot vaccine developer Johnson & Johnson (JNJ) and Nike (NKE). But the Dow Jones still fell fractionally.

The iShares Russell 2000 (IWM) ETF slipped 0.6% but is holding a small gain for the week.

Beyond Dow Jones

In Leaderboard, Innovative Industrial Properties (IIPR) lost all of the prior session’s gains and slid more than 12%.

Watch how the stock market leader handles a possible second test of the 50-day moving average this week.

The commercial property REIT serving cannabis growers reported a sharp deceleration in bottom-line growth.

Funds from operations rose just 9% to $1.29 a share, down from year-over-year gains of 107%, 102% and 49%.

Revenue jumped by the triple digits again, up 110% to $37.1 million, a quarterly best.

The stock got early airplay in Thursday’s IBD Live show.

Also in Leaderboard, quarter-size position and consumer lending play Upstart (UPST) led the upside but remains volatile.

The new IPO at one point rose more than 4% and has extended gains from a very narrow IPO base with a 51.50 buy point.

A chart annotation on the daily chart of Upstart highlighted an aggressive entry near 48-49.

On a portfolio-weighted basis, stocks on Leaderboard delivered a 58% return in 2020, vs. a 16.3% gain in the S&P 500 excluding dividends.

The U.S. Economy

Amid a pending Friday vote in the House of Representatives on President Joe Biden’s $1.9 trillion economic aid package, weekly jobless claims in the latest reported week fell to a still high 730,000.

Long-dated U.S. government bonds sold off again.

The yield on the key 10-year note jumped to a session high of 1.45%, reaching levels last seen in February 2020.

Please follow Chung on Twitter: @saitochung and @IBD_DChung

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