Why Moderna Stock Is Soaring This Week
Shares of Moderna (NASDAQ: MRNA) had soared 21.8% this week as of the market close on Thursday, according to data from S&P Global Market Intelligence. The company reported several positive developments in recent days.
On Monday, Moderna announced the dosing of the first participant in a phase 1 study evaluating experimental HIV vaccine mRNA-1574. On Wednesday, the company stated that it had reached an agreement with the Japanese government to supply another 70 million doses of its COVID-19 vaccine. And on Thursday, Moderna won authorization in Canada for its COVID vaccine in immunizing children ages 6 to 11.
But probably the biggest factor behind the vaccine stock jumping so much is that another COVID wave is underway outside of the U.S. China is experiencing its worst coronavirus outbreak since 2020. Cases are also rising significantly in the European Union and the United Kingdom.
Source Fool.com
