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Why Moderna Stock Crashed Today

TheMotleyFool

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Why Moderna Stock Crashed TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Shares of Moderna (NASDAQ: MRNA) plunged 18% on Thursday after the biotech's third-quarter financial results fell short of investors' expectations.

Moderna's revenue rocketed more than 30-fold to $5 billion, fueled by sales of its COVID-19 vaccine. The drugmaker's net income, in turn, soared to $3.3 billion, or $7.70 per share, compared to a net loss of $233 million, or $0.59 per share, in the prior-year quarter.

However, Wall Street was expecting even more. Consensus estimates had called for revenue and earnings per share of $6.2 billion and $9.05, respectively.

Source Fool.com

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