Why Moderna Stock Is Slipping Today
Shares of Moderna (NASDAQ: MRNA) were slipping 4.2% as of 10:49 a.m. EST on Friday after falling more than 6% earlier in the morning. The decline came after a U.S. Food and Drug Administration (FDA) advisory committee voted unanimously late Thursday afternoon to recommend Emergency Use Authorization (EUA) for Moderna's COVID-19 vaccine.
Why did Moderna's shares slide after great news from the FDA advisory committee? You can probably chalk it up to the old investing adage, "Buy the rumor, sell the news."
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Source Fool.com