Why Moderna Stock Plunged Today
Shares of Moderna (NASDAQ: MRNA) fell 9% on Tuesday as the biotech raced to determine if its coronavirus vaccine is effective against a highly contagious new strain of the virus.
Investors and the world at large cheered when a phase 3 clinical trial showed Moderna's vaccine candidate, mRNA-1273, to be 94% effective against COVID-19 and 100% effective at preventing severe forms of the disease. Moderna's share price went on to nearly double after the drugmaker released data from an interim analysis of the clinical trial in mid-November.
Moderna's stock has pulled back sharply in recent days. Image source: Getty Images.
Source Fool.com
