Why Moderna Stock Is Jumping Today
Shares of Moderna (NASDAQ: MRNA) were jumping 5.7% higher at 11:17 a.m. EDT on Friday. One potential reason behind the gain is that investors expect that Moderna will benefit from issues that AstraZeneca (NASDAQ: AZN) and Johnson & Johnson (NYSE: JNJ) are experiencing with their COVID-19 vaccines.
On Wednesday, the European Medicines Agency (EMA) reported a possible link between AstraZeneca's COVID-19 vaccine and unusual blood clots. United Kingdom authorities issued a recommendation that people under age 30 receive another vaccine if possible.
Meanwhile, the U.S. Centers for Disease Prevention and Control (CDC) expects the allocation of Johnson & Johnson's COVID-19 vaccine to plunge by 85% next week. This drastic reduction stems from manufacturing problems found in a facility operated by Emergent BioSolutions, a contract manufacturer J&J engaged to help produce its vaccine.
Source Fool.com
