Why Moderna Stock Is Surging Today

Shares of Moderna (NASDAQ: MRNA) were trading 6.9% higher as of 11:07 a.m. ET on Thursday, though the company hadn't announced any new developments. Instead, those gains appear to be primarily the result of a broader stock market bounce. All of the major market indexes were up Thursday morning.

Investors shouldn't read too much into Moderna's move. There are still plenty of uncertainties that could derail the market's rebound and cause the vaccine stock to give up its gains.

However, Moderna's near-term prospects are certainly looking better. The Food and Drug Administration (FDA) wants omicron-targeting vaccine boosters available in the fall. Moderna expects its omicron booster will be ready by late October or early November.

Source Fool.com