Moderna follows in Pfizer's footsteps: it stock shoots up 13% after announcing advances in its vaccine

November 16, 2020 17:00

Moderna follows in Pfizer's footsteps: it stock shoots up 13% after announcing advances in its vaccine

The announcement of a new vaccine for Covid-19 has grown the increases which the main European indices showed this morning. Moderna has announced that its vaccine is 94.5% effective, up from 90% effectiveness announced by Pfizer a week ago.

In their statement, Moderna confirmed what it had indicated last Wednesday when it announced that its vaccine could be as good as Pfizer's. On that day, its shares soared more than 8% in the stock market, and today, the rise is even more pronounced: in the pre-opening of Wall Street, it rose about 14%, although then it opened the session with a rise of 9%. Despite this, the effect on stock indices has been more moderate than Pfizer's announcement a week ago.

The results could be interesting for Moderna's share price, which has already risen more than 350% this year. In 2019, it achieved 28% growth after debuting at the end of 2018 with losses.

Source: Admiral Markets Metatrader 5. Weekly Modern CFD Chart. Data range: from December 2, 2018 to November 16, 2020. Prepared on November 16, 2020 at 3.30 p.m. CET. Keep in mind that past returns do not guarantee future returns.

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