At the beginning of the week, Moderna’s stock was at $232.29. However, after some recent supply deals of its Covid vaccines, the stock is gaining momentum: today’s pre-market stock is surging big, reaching a $280 mark, which results in a 20% gain. Thailand’s government amid having a difficult situation with control of the Covid spread. So, The Thai Red Cross (a major humanitarian organization in Thailand) purchased 1 million doses of Moderna’s COVID-19 vaccines from the Government Pharmaceutical Organization (GPO).
Stock can rise even more because GPO plans to sign a new deal next week to purchase 5 million Moderna vaccines. The supply will start in the fourth quarter or the beginning of the next year. In a statement, the Red Cross told some vaccines will be free for medical personal and vulnerable groups, while others will be sold to organizations around the country for the general population.
Thailand’s main vaccination started last month and was based on the AstraZeneca and Sinovac shots. The pace of the rollout was slower than in some nearby countries. More than 5% of its more than 66 million people were fully vaccinated so far.
Finance and Entertainment Reporter
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