Moderna Stock on the Rise After Lockdowns in China
Even as shot manufacturers had been dropping from their record highs in 2021, Moderna stock (NASDAQ:MRNA) has been the best-performing in the S&P 500 on Monday.
The coronavirus Epidemic Is at Its Worst Since Wuhan.
As the rest of the globe increasingly relaxes COVID restrictions, China continues to isolate large sections of the population and perform mass testing to eliminate the coronavirus. It has not licensed any imported COVID vaccines and instead depends on several locally manufactured vaccinations.
BioNTech SE, a German biotechnology business, increased its share price by as much as 18%, marking its most significant one-day rise since November, while Pfizer Inc., a partner company, increased its share price by as much as 5.3%. Vaccine manufacturers have been battered this year as investors moved away from riskier growth companies, resulting in a much lower market price than the peak in 2021.
Will Moderna stock surge continue?
Covid news drives investor fears that the pandemic would take longer to resolve and that the world will need more doses, stated Jefferies analyst Michael Yee. While the country is unlikely to order shots from Moderna, Nevertheless, in light of recent occurrences, Moderna stock (NASDAQ:MRNA) has been looking for a catalyst recently, and one might be from the sale of vaccinations against the COVID-19 strain to the country with the most people on the planet.
The company has openly stated its willingness to supply COVID vaccines to China.
Moderna Inc has held talks with the Chinese government about supplying COVID-19 vaccines, but no decision has been made, CEO Stephane Bancel said on Wednesday while speaking in Boston.
Featured Image: DepositPhotos (C) Alexmit
Author: Okoro Chinedu
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