Why Is Everyone Talking About Moderna Stock?

Moderna (NASDAQ: MRNA) has been scorching hot of late. Despite not generating much by way of revenue -- and not having a single approved product on the market -- the company's shares have soared by more than 190% since the beginning of the year, easily outpacing the broader market. Of course, the primary catalyst for Moderna's performance has been its efforts to develop a vaccine for COVID-19, efforts which have attracted a slew of headlines. The company also stirred up some controversy in May when executives sold large amounts of shares, a move that has been both criticized and defended.

However, Moderna's valuation metrics have also skyrocketed recently. The company is trading at about 218 times its estimated future sales. Is the biotech company worth its rich valuation metrics?