Why Moderna Stock Plunged Today

Shares of Moderna (NASDAQ: MRNA) fell sharply on Monday, following an analyst downgrade and positive vaccine trial results from a rival drugmaker. By the close of trading, its stock price was down 12.8% after falling as much 17.7% earlier in the day.

JPMorgan cut its rating on Moderna's stock from "overweight" to "neutral," citing concerns that its valuation has become stretched after its torrid run so far in 2020. Prior to today, Moderna's shares were up a staggering 385% year to date and 576% over the past year. 

Moderna's stock gave up a portion of its recent gains on Monday. Image source: Getty Images.

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Source Fool.com