Why Moderna Stock Crashed Today
Shares of Moderna (NASDAQ: MRNA) fell 13.5% on Monday after health officials indicated that the omicron variant might lead to less severe forms of COVID-19 than feared.
Omicron is a heavily mutated strain of the novel coronavirus. It appears to be more transmissible than the already worrisome delta variant. Moreover, scientists don't yet know if currently available vaccines will be effective against omicron.
This uncertainty helped to drive the financial markets lower in recent weeks. Amid the volatility, many investors sought shelter in Moderna and other vaccine stocks, on the belief that omicron fears would boost demand for new drugs designed to target emerging coronavirus strains.
Source Fool.com
