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The Reason Why Moderna Stock Was the Best Performer on the Market on Tuesday

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Moderna Stock (NASDAQ:MRNA)

On Tuesday, the overall stock market beat, with the S&P 500 index registering a more than one percent loss. Moderna stock investors, however, can breathe a sigh of relief because MRNA stock price went up by 1.4% despite this news. The latest news on the company’s widely used coronavirus vaccine served as the impetus, as it always does.

Then what?

That morning, Bloomberg reported shortages of the most recent version of Moderna (NASDAQ:MRNA) Spikevax vaccination in pharmacies across the United States. The Spikevax vaccine is a bivalent booster designed to protect against both the original and the omicron versions of the coronavirus.

This is partly owing to the limited amount the government has available, which must be distributed around the country. The CVS Health corporation disclosed to the financial news agency that several pharmacies had already used up all their available doses of the new booster.

However, this is also owing to the enormous demand for the jab, which makes it impossible to keep it in supply everywhere. This is a positive development for Moderna (NASDAQ:MRNA), as Spikevax maintains its solid standing in the market as a reliable vaccine. Although some receivers of vaccines “mix and match” injections from different manufacturers, for the most part, they stick with boosters from the same company. There is still a significant amount of latent demand for Spikevax even though it is already present in millions of American arms.

What’s Next?

Despite this, it is essential to remember that the coronavirus appears to decline. The most recent statistics on the epidemic collated by The New York Times show that the number of new cases, hospitalizations, and fatalities continue to drop at double-digit rates over 14 days.

Because Spikevax is the only product that Moderna stock has successfully brought to market, it is essential for present and potential investors to keep abreast of advancements regarding the biotech company’s pipeline.

Featured Image – Megapixl © Vennkrd 

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