2/14/2022, 4:42 PM (Source: TeleTrader)
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Chart for: Moderna

Moderna sinks 14% as COVID concerns ease

Shares of Moderna Inc. tumbled more than 14% on Monday following the news over the weekend the company is considering opening a messenger RNA manufacturing facility in the United Kingdom.

According to the Financial Times, British Health Secretary Sajid Javid and Moderna's Chief Executive Stephane Bancel met in the US to finalize an agreement. The latest stock plunge has come due to the easing of the coronavirus pandemic, according to market analysts, as Moderna's majority of revenue came from the sale of COVID-19 vaccines.

Moderna's stock fell 14.26% at 10:40 am ET to sell for $138.23 on Nasdaq, and has declined more than 64% in the last six months.

Baha Breaking News (BBN) / ND