Moderna stocks plunged on Friday during the market selloff this week. The company has lost $130 billion in value this year over the lackluster COVID vaccine results with the new Omicron variant. The stock is down 67% from its all-rime high last year.
Via Jonathan Ponciano at Forbes.
Advertisement - story continues below
Battered by a steep broad-market selloff this week, Moderna shares fell for a sixth straight day Friday as experts questioned whether Covid-19 vaccine sales alone will help justify the firm’s meteoric valuation, intensifying a crash that’s wiped out more than 60% of the value in one of last year’s top stocks and turned it into this year’s worst performer.
Moderna stock fell 4.4% Friday to an eight-month low of $160, pushing shares down more than 20% over the past week amid growing research suggesting Moderna’s Covid-19 booster, while very effective against previous strains, has been less effective against the rapidly spreading omicron variant…
TRENDING: EXCLUSIVE: THIRD Hunter Biden Email from Laptop with Classified Information Uncovered – Classified WH Conference Call Shared with Hunter's Ukrainian Business Partners - And SEVERAL More Are Coming
Shares of Moderna have plunged 67% from an all-time closing high of $484 on August 9, wiping out about $133 billion from the firm’s market capitalization, which now stands at roughly $65 billion.