Moderna shares fall 9.3 per cent in pre-market trading after two earlier steep drops
The shares have already given up more than a third of their value over the past several sessions.
Published
Chart: MRNA, one-minute prices, three sessions
Moderna shares were down 9.3 per cent in pre-market trading at 6:36 AM Eastern on Monday, Oct 26. The regular session has not started yet. The move extends a slide that began in earlier sessions.
Together, the falls have wiped out more than a third of the company's value over the past several sessions. The pattern points to selling that returns after each drop rather than settling. Each leg down has been followed by another.
Moderna shares had been lifted in October by optimism tied to the election. That gain has now been fully reversed. The company named a new chief operating officer on Sep 30, but the appointment has had no visible effect in steadying the stock. For anyone holding the shares, the October gain is gone, and the decline has not stopped after any leg.
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