The stock of Moderna Inc. Crashes

The Shares of Moderna Inc. shed 0.59% to $160.43 Monday. This proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.38% to 13,379.05 and Dow Jones Industrial Average DJIA falling 0.16% to 34,327.79.

Moderna Inc. closed $28.83 below its 52-week high of $189.26 which the company achieved on February 8th.The stock underperformed when compared to some of its competitors Monday, as AbbVie Inc. ABBV rose 0.40% to $116.89, Amgen Inc. AMGN rose 0.40% to $252.38, and AstraZeneca PLC ADR AZN rose 1.21% to $55.88. Trading volume (4.2 M) remained 5.4 million below its 50-day average volume of 9.6 M.

Australia has secured 25 million doses of the Moderna Inc Covid-19 vaccine as the government seeks to boost supplies to support its delayed vaccination drive.The government said 10 million doses of the mRNA vaccine are due to arrive by the end of the year, and 15 million shots in 2022. Australia’s rollout has lagged behind other nations after initial delays and caution over the AstraZeneca vaccine. The country has so far administered 2.8 million shots of a Covid vaccine.

This biotech company became the first to bring a coronavirus vaccine candidate into clinical testing and the second to bring a vaccine to market. It is using new technology. The company’s shares also have been big movers over the past year and have climbed more than 140% during that time. Moderna product has fully vaccinated 47 million Americans since its launch in late December. By the end of July, the company will have delivered 300 million vaccine doses to the U.S.