Will Moderna Stock Reach $500?
Some people might have thought Moderna's (NASDAQ: MRNA) stock market gains were over when the company pocketed an Emergency Use Authorization for its coronavirus vaccine in December. After all, the stock advanced 434% in 2020. But investors continued rewarding Moderna -- for generating billions of dollars in vaccine revenue, for turning a profit, and for working on new programs in the coronavirus vaccine space.
As a result, the stock soared 363% from the start of the year to a high of more than $480 a share in August. Moderna has since pared gains. The stock now trades at around $400. But an increase can happen quickly for this dynamic biotech stock. So now, many investors are wondering: Will Moderna shares reach $500 in the near term? Let's take a closer look.
Image source: Getty Images.
Source Fool.com
