Moderna Cedes S&P’s Top-Performer Crown After Record Stock Swoon
- Devon Energy, Marathon Oil outpace the biotech’s gains
- Moderna retreats 17% Friday to the lowest level since July 13
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Moderna Inc. plunged Friday, losing its title as the best-performing stock on the S&P 500 Index this year.
Shares of the Covid-19 vaccine maker sank 17% to the lowest since July 13 after rival Pfizer Inc. said its Covid-19 pill reduced hospitalizations and deaths. Today’s selloff has pushed the stock down to the seventh-best performing stock on the S&P 500 this year with Devon Energy Corp. in the top spot followed by Marathon Oil Corp.