Why Moderna Stock Dropped Today
Shares of Moderna (NASDAQ: MRNA) plunged on Wednesday, following reports that several of the participants in its novel coronavirus vaccine trial suffered an adverse reaction to its experimental drug mRNA-1273. Moderna's stock surged 20% on May 18 after it shared positive results from its phase 1 study for its COVID-19 vaccine candidate mRNA-1273. Since that day, Moderna's stock has shed more than a third of its value, as analysts questioned both the timing of the stock sale and whether the preliminary data justified the price at which shares were sold.
