The world is fighting hard against the Coronavirus pandemic. Many countries in the world are under lockdowns. Healthcare professionals around the world are working long hours to ensure that people can recover from this deadly disease. Moreover, governments are spending billions of dollars to keep their economies afloat. Thus, the most important thing at this time is to make a vaccine.
Billions of people are anxiously waiting for news on a coronavirus vaccine. Only a vaccine will the world to go back to the way it was. Until a vaccine comes out, social distancing measures will stay in place in some form. Normal life will not return and economies will not fully recover without a vaccine. There are many companies around the globe trying to make a vaccine.
Moderna Stock Rises
Moderna Inc. is a biotechnology firm in the United States. On Monday, 18 May 2020, the company’s stock opened at 86.28 USD, almost 20 USD higher than the previous closing price of 66.69 USD. While the stock did fall a little during the day, the stock closed at 80 USD. This was a rise of 13.31 USD or 19.96% compared to the previous trading day’s closing price. This was a large jump for a stock in a single day, especially when most companies are falling fast in the market.
Also Read:
Market Update: Peloton Interactive Rises High, Factors Behind It!
Market Update: 3M Sales Fall, Stock Dips For Consecutive Days
Why Did The Stock Rise?
Moderna stock rose after it released one of the most positive reports since the Coronavirus pandemic started. Moderna stated that early results from the human trials of their Coronavirus vaccine gave a positive outcome. The tests did give indications that the vaccine would allow humans to fight the virus off. This news not only led to a rise in Moderna Stock, but also led to an overall positive for the market, with many stocks rising and the Dow Average rising by nearly 900 points on the day.
What Is Next For Moderna?
While the news is extremely encouraging and the Moderna stock is one of the hottest stocks on the market, investors should be careful. The results from the tests are only preliminary and no authorities have verified them yet. Moreover, vaccines go through a much more extensive testing process before they can be given to the public. Moderna will have to conduct many more tests before they can release their vaccine. Any news of a failed test on the vaccine will cause Moderna’s stock to plummet fast.
