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Why Moderna Stock Is Slipping Today

TheMotleyFool

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Shares of Moderna (NASDAQ: MRNA) moving 4.5% lower as of 11:57 a.m. EST on Monday. The decline appears to be the direct result of the U.S. Food and Drug Administration (FDA) granting emergency use authorization (EUA) to Johnson & Johnson's (NYSE: JNJ) COVID-19 vaccine over the weekend.

Does Johnson & Johnson's EUA make a difference for Moderna over the short term? Nope. Moderna already has an agreement with the U.S. government to supply 300 million doses of its COVID-19 vaccine. With the supply deals that the U.S. government has lined up with other companies, there will be more than enough vaccine doses to immunize all American adults this year.

Image source: Getty Images.

Source Fool.com

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