Moderna (MRNA) Stock Sees Sudden Selling on Intellectual Property Waiver News

Moderna Inc (NASDAQ:MRNA) stock is tanking hard in the late afternoon session following the report that USTR Katherine Tai will have talks about intellectual property waiver regarding COVID-19 vaccines.

Moderna (MRNA) Stock Sees Sudden Selling on Intellectual Property Waiver News

After trading in the green for the session, MRNA slipped suddenly and now trading lower by 7.67% at $160.27 after falling to a session low of $156.89. The stock has fallen about 11% from its session high of $180.70.

Moderna is all set to report its first-quarter earnings tomorrow. Analysts are estimating the company report EPS of $2.30 compared to a loss of 35 cents in the same quarter of the last year.

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Revenue is expected to skyrocket on sales of Moderna’s recently approved COVID-19 vaccine. Moderna expects to supply up to 1 billion doses of its vaccine in 2021.

Keep an eye on MRNA stock if there will be any recovery by the end of the session.

 

 

 

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.