Moderna, Inc. (NASDAQ:MRNA), the biotech firm behind COVID-19 vaccines, plummeted by 16.8% on Monday, becoming the biggest loser of the day. The company’s disappointing earnings projections and lower-than-expected vaccine demand led to the sharp decline.
In its latest report, Moderna cut its revenue forecast for 2025 from $3.1 billion to $1.5 billion-$2.5 billion, citing a slower adoption of its RSV shot. To address this, the company aims to reduce cash costs by $1 billion in 2025 and increase investments to around $6 billion.
Moderna’s CEO Stéphane Bancel announced plans to cut costs and invest in new products to boost growth. The firm has filed an application with the US FDA for approval of its COVID-19 combination vaccine, aiming to accelerate growth.
With a market capitalization over $2 billion and significant trading volume, Moderna is one of the top losers on our list this Monday. While it remains an attractive investment opportunity, we’re keeping a closer eye on AI stocks that promise higher returns with shorter timelines.
Source: https://finance.yahoo.com/news/why-moderna-inc-mrna-among-061339531.html