Moderna's Stock Plummets Amid Vaccine Sector Selloff
Moderna's stock dropped 9.1% on Monday, making it the biggest loser in the S&P 500. The decline came after Noubar Afeyan, a co-founder and board member of Moderna, sold 15,000 shares of the company. While the sales were made as part of a scheduled plan, it can still be seen as a warning sign for investors. Additionally, Pfizer and BioNTech shares also declined, indicating weakness in vaccine-related stocks. However, Moderna had experienced gains the previous week, suggesting that the drop may be attributed to typical volatility.