Why Moderna Stock Is Popping Today

Shares of the messenger RNA specialist Moderna (NASDAQ: MRNA) were up by a noteworthy 4% as of 12:35 p.m. EDT on Wednesday. While that percentage may not seem like a lot in absolute terms, it actually translates into a whopping $6 billion rise in the biotech's market capitalization.

What's sparking this sizable rally? The Food and Drug Administration is set to review Moderna's request for COVID-19 booster shots for adults this Thursday. Although the agency's scientists said last Tuesday that there wasn't enough evidence to support the need for booster shots at this time, they also didn't completely derail the idea. The details can be found within a 45-page briefing document currently on the FDA's website.

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Source Fool.com