Here's Why These Top 3 COVID-19 Vaccine Stocks Broke Down in August
COVID-19 vaccine stocks came under enormous pressure last month. Over the course of August, Moderna's (NASDAQ: MRNA) shares dipped by a hefty 19.3%, Pfizer's (NYSE: PFE) stock ticked lower by a notable 10.4%, and Novavax's (NASDAQ: NVAX) equity lost an eye-catching 39.4% of its value, according to data from S&P Global Market Intelligence.
What caused investors to hit the exits on these top three coronavirus vaccine stocks? The central theme across these three healthcare stocks is the potential for a major drop in COVID-19 vaccine sales heading into 2023 and beyond.
The U.S. government has already said that it will stop funding public programs covering the costs of coronavirus vaccines and therapies. What's more, U.S. health authorities recently stated that booster shots for healthy individuals will probably only be required once a year.
Source Fool.com
