Merck Just Sold Off Its Moderna Shares for a Huge Gain. Should You?

Practically everything is going right for Moderna (NASDAQ: MRNA) these days. The biotech announced surprisingly positive efficacy results for its COVID-19 vaccine candidate mRNA-1273, and it has filed for Emergency Use Authorization (EUA) in the U.S. and approval in Europe. Moderna's shares have understandably skyrocketed.

The reality is setting in that Moderna appears to be on track to launch its coronavirus vaccine before the end of the year. Some investors might be wondering if they should apply the old adage about buying the rumor and selling the news with the biotech stock. 

One major Moderna investor appears to like that idea. Merck (NYSE: MRK) just sold off its Moderna shares for a huge gain. Should you? 

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Source Fool.com