Moderna's negative stock market erases nearly $ 100 billion from its valuation

The papers of the American pharmaceutical company Moderna Inc. face their longest negative series in more than two years, increasing the price drop from a record high of more than 50% in August, Bloomberg reports.

This series wipes out about $ 98 billion of the company’s market capitalization. While the omicron variant of the coronavirus is rampant around the world, Moderna’s shares remain tight as Pfizer Inc.’s coronavirus pills. and Merck & Co., Inc. recently received a marketing authorization from the US Food and Drug Administration (FDA).

Moderna shares fell 2.8% to $ 239.20 at 20:50 Bulgarian time. Over the past six days, their value has fallen by 19 percent, which erases from the company’s valuation of almost $ 23 billion.

Despite recent declines, the value of shares in the Cambridge-based , Massachusetts, a company, is still 136% larger than last year. Moderna, which joined the S&P 500 in July, is one of the best performing companies in the index for this year and lags only behind Tesla Inc. over the last two years.

Its US competitor Pfizer Inc., which co-developed the COVID vaccine with Germany’s BioNTech, has also seen a drop in its value.