Why Moderna Stock Is Jumping Today

Shares of Moderna (NASDAQ: MRNA) were jumping 2.5% as of 11 a.m. ET on Tuesday after rising as much as 5.6% earlier in the day. The gain especially stood out with the overall market falling due to worries about a potential recession.

Investors appear to be more optimistic about Moderna's prospects after the Food and Drug Administration (FDA) cleared the way for COVID-19 vaccine boosters targeting the omicron variant to be available in the fall. The agency won't require additional clinical trials for the omicron boosters.

The FDA's decision could make it more likely that the U.S. government will place an order for Moderna's omicron-targeting booster. That's especially the case considering that the Biden administration has warned about the possibility of a surge in COVID-19 this fall and winter.

Source Fool.com