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Pharma Giants Moderna And Novavax Trend Lower In This Pattern: What's Going On?

Benzinga Real-time News · Sep 23, 2022 10:51

NVAX +2.95% MRNA +3.28%

Moderna Inc.(NASDAQ:MRNA) andNovavax Inc.(NASDAQ:NVAX) were trading down over 2% and 4%, respectively in the premarket Friday despite both stocks showing signs a bounce could be in the cards.

The weak price action in the pharmaceutical giants is likely due to very bearish action in the general markets, which saw theS&P 500looking to plunge 1.35% to start the trading day and end a bearish week.

Moderna and Novavax, both COVID-19 vaccine developers, have also been pressured by comments that PresidentJoe Bidenmade on Sunday, declaring the Covid-19 pandemic is over.

Now more than 30 months since the...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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