Here's Why Moderna Stock Dropped Today

Shares of Moderna (NASDAQ: MRNA) fell 9% on Wednesday after Scandinavian health officials said they would take action to limit the use of the drugmaker's COVID-19 vaccine in children and young adults.

The Swedish health agency will hold off giving Moderna's drug to people under 30 years old after preliminary data from a not-yet-published study showed a potential higher risk of heart inflammation in those who received the vaccine. "The connection is especially clear when it comes to Moderna's vaccine Spikevax, especially after the second dose," the agency said. Swedish health officials did, however, note that the condition was very rare.

Denmark will likewise suspend the administration of Moderna's vaccine in kids aged 12 to 17.

Source Fool.com