It’s been a few months since we last talked about Moderna.
Just recently, Sweden joined Denmark, Finland and Iceland in banning the Moderna vaccine for young people, those who were born in 1991 and later. The reason for that is due to concern of increased risk of myocarditis and pericarditis among younger people. It is also supported by data from the U.S. vaccine safety monitoring databases.
However, not all countries in Europe are banning Moderna’s vaccine. Italy’s Health Minister Roberto Speranza called for European countries to cooperate for better coordination regarding vaccination efforts.
How would the moratorium on giving the Moderna vaccine to younger people impact the stock price of Moderna (NASDAQ: MRNA)?
Technical side of things
Moderna’s share price broke to the downside towards the end of September after consolidating at $415- $460 area for around 2 and half months. Currently, it is ranging between $296 and $347 per share and we see that the volatility has died down compared to when everyone was hopping on the pharmaceutical shares bandwagon. The ban announcement on October 6 (circled) certainly didn’t help the bulls.
Currently, Moderna’s only commercial product is the Covid-19 vaccine. For the stocks to potentially climb back up, strong and positive findings for their product is essential.
What are your thoughts?
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