Why Moderna Was a Sickly Stock Today
Thursday was a bad day to be a stock investor; it was an especially bad day to hold shares of Moderna (NASDAQ: MRNA). The prominent coronavirus stock fell by over 3% in price, exceeding the more than 2% slide of the S&P 500 index. While declining coronavirus numbers certainly had something to do with that, investors were also wary about a change in the company's top management.
That morning, Moderna announced that it has appointed a new chief technical operations and quality officer -- Jerh Collins, who is to take up the position next Monday, Oct. 3.
Collins replaces Juan Andres, who is remaining at the company in the new role of president of strategic partnerships and enterprise expansion. His mandate will be, in Moderna's words, to "focus on building out the organization to support the growing pipeline." The company said that this is in preparation for several upcoming product launches, although it provided no details about them.
Source Fool.com
