After Moderna's share price recorded its biggest one-day increase in history, investors began to digest the positive news and adjust their positions. The stock is expected to record its biggest percentage decline in more than two years on Thursday. Analysts pointed out that before Moderna's stock price surged on Wednesday due to positive data on the mRNA cancer vaccine, the stock's short position was as high as 13.7%. The so-called “emptying” market is likely to be an important factor driving the stock price surge on Wednesday, and Thursday's trend reflects the cooling of market sentiment. Brookline Capital Markets analyst Leah Cann said, “Many shorting investors may be forced to close their positions due to mistakes in judgment, which is tantamount to pouring fuel on the flames. Over the next few days, as sentiment calms down, the stock price will also stabilize.” According to UBS data, its customers sold off $44 million worth of Moderna shares in record numbers on Wednesday, indicating that some investors chose to cash out after the stock price soared. UBS analyst Michael Yee pointed out, “The stock traded close to 200 million shares yesterday, accounting for about half of its outstanding share capital. This indicates that a large number of short positions may have been liquidated and short-term capital adjusted rapidly in a single transaction. Once this buying demand was exhausted, it was to be expected that the stock price would fall back to a certain extent.”

After Moderna's share price recorded its biggest one-day increase in history, investors began to digest the positive news and adjust their positions. The stock is expected to record its biggest percentage decline in more than two years on Thursday. Analysts pointed out that before Moderna's stock price surged on Wednesday due to positive data on the mRNA cancer vaccine, the stock's short position was as high as 13.7%. The so-called “emptying” market is likely to be an important factor driving the stock price surge on Wednesday, and Thursday's trend reflects the cooling of market sentiment. Brookline Capital Markets analyst Leah Cann said, “Many shorting investors may be forced to close their positions due to mistakes in judgment, which is tantamount to pouring fuel on the flames. Over the next few days, as sentiment calms down, the stock price will also stabilize.” According to UBS data, its customers sold off $44 million worth of Moderna shares in record numbers on Wednesday, indicating that some investors chose to cash out after the stock price soared. UBS analyst Michael Yee pointed out, “The stock traded close to 200 million shares yesterday, accounting for about half of its outstanding share capital. This indicates that a large number of short positions may have been liquidated and short-term capital adjusted rapidly in a single transaction. Once this buying demand was exhausted, it was to be expected that the stock price would fall back to a certain extent.”