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Why Moderna Stock Is Slipping Today

TheMotleyFool

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Shares of Moderna (NASDAQ: MRNA) were slipping 4.2% as of 10:49 a.m. EST on Friday after falling more than 6% earlier in the morning. The decline came after a U.S. Food and Drug Administration (FDA) advisory committee voted unanimously late Thursday afternoon to recommend Emergency Use Authorization (EUA) for Moderna's COVID-19 vaccine.

Why did Moderna's shares slide after great news from the FDA advisory committee? You can probably chalk it up to the old investing adage, "Buy the rumor, sell the news."

Image source: Getty Images.

Source Fool.com

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