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Why Moderna Stock Rose Today

TheMotleyFool

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Shares of Moderna (NASDAQ: MRNA) climbed 5.5% on Monday after the rollout of a rival vaccine maker's drug was halted.

The South African government had planned to administer AstraZeneca's (NASDAQ: AZN) COVID-19 vaccine to its front-line healthcare workers. However, that plan was halted after early data from a small clinical trial showed that AstraZeneca's drug provided only minimal protection against the coronavirus strain that's been spreading rapidly in the country.

Investors bid up Moderna's stock on Monday. Image source: Getty Images.

Source Fool.com

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