Moderna Joins Top S&P 500 Firms as Stock Value Triples
- Stock has closed at record highs in four of past five sessions
- Comparisons to Tesla prove to be a double-edged sword
Photographer: Hendrik Schmidt/picture alliance/Getty Images
This article is for subscribers only.
Moderna Inc. joined the S&P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.
The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.