Why Moderna Stock Swooned Today

Frequently high-flying coronavirus stock Moderna (NASDAQ: MRNA) plunged groundward Wednesday, although this had basically nothing to do with the ongoing pandemic or any operational issues at the company. Rather, it was due to some disquieting personnel news, following which investors traded the stock down by nearly 7% on the day.

That morning, Moderna revealed that its new CFO is now its ex-CFO. Jorge Gomez, who only started his tenure on Monday, has "departed" from his new employer. The move is effective immediately, and it comes a day after his previous company Dentsply Sirona (NASDAQ: XRAY) publicly disclosed "an ongoing internal investigation into certain matters, including financial reporting."

It is not clear whether Gomez is, or will be, a focus of that investigation.

Source Fool.com