Prognosis
Moderna Slump Hits 50% From Peak, Erasing $98 Billion Value
- Vaccine maker posts longest falling streak since October 2019
- Pfizer slides Tuesday, has wavered since Dec. 16 record high
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Moderna Inc. is on its longest losing streak in more than two years, extending its slump from a record high in August by 50%.
The slide has wiped about $98 billion off the company’s market value since that peak. While the omicron variant is sweeping the world, Moderna’s shares were pressured as coronavirus pills by Pfizer Inc. and Merck & Co., Inc. recently received authorization from the FDA.