Seeking Alpha
23 Oct 2026, 02:46 UTC · 1h ago
Tech Sell-Off Leads To Uptick In Defensive Stocks
Impact · against what's priced in
The leaked vaccine results for Moderna and Merck act as a direct catalyst for downward revisions to their oncology platform valuations. For Meta and Nvidia, the tech sell-off reflects growing ROI concerns that reinforce already conservative market pricing for Meta, while introducing new valuation pressure on Nvidia.
- MRNA−0.70
Challenges what's priced in
- The price assumes
The successful Phase 3 INTerpath-001 melanoma trial results and the validation of the mRNA oncology platform
The market has paid a significant premium for the success of the oncology platform; leaked preliminary vaccine results that cause shares to fall directly undermine the primary growth pillar the price assumes.
What MRNA's price assumes · Sep 11
