Moderna Is Down 12%. Is It Time to Buy?
Moderna (NASDAQ: MRNA) has been a stock market favorite ever since it entered the coronavirus vaccine race last year. The stock soared 434% in 2020. And its market cap rose from about $6 billion at the start of last year to $134 billion today. Of course, the stock has stumbled here and there. But it's always managed to recover -- and go on to gain more.
So, what's happening now? Moderna shares have dropped about 12% since the start of the month. Investors worry a new coronavirus pill would result in fewer people opting for vaccination. All of Moderna's product revenue comes from sales of its COVID-19 vaccine. Such a situation could be disastrous in the near term. Now the question is: Should you be worried and avoid Moderna stock -- or is this a buying opportunity?
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Source Fool.com
