Moderna Stock Crash: Losses Top $140B as insiders sell millions of dollars in shares
Feb. 17, 2021 - Moderna stock fell as much as 13% on Monday to a 10-month low of less than $140, pushing shares down more than 30% over the past month amid a sell-off largely centered on technology and healthcare firms that skyrocketed in value during the pandemic.
The rout has been particularly bad for Covid-19-related stocks in recent weeks, says Bank of America analyst Geoff Meacham, who points out pharmaceutical giant Pfizer, down 2% Monday, has also been caught in the mix despite the promise of its Covid antiviral pill after it warned in its fourth-quarter earnings report that vaccine sales will decelerate this year.
With Covid cases plummeting from all-time highs, experts have increasingly questioned whether vaccines will be a sustainable revenue stream in the years to come, and adding to the concerns, a study released Friday by the Centers for Disease Control and Prevention showed Moderna and Pfizer booster shots lost substantial effectiveness after about four months. source