Early Bird Prime for November 24, 2024
Biotech stocks are the rollercoaster ride of the investment world. That’s what it is like holding onto Moderna (Nasdaq: MRNA) this year. It is down 63.46% in 2024, with a 23.00% nosedive in the last 30 days.
The market for vaccine sales is volatile. Moderna, once a pandemic darling, now finds itself out of vogue. Investors have abandoned the stock. There are questions about the company’s financials.
But just when you thought Moderna was destined for the stock market’s version of the witness protection program, along comes HSBC with a shiny new upgrade this week. They’ve moved Moderna from Hold to Buy, citing the company’s burgeoning product pipeline.
And speaking of surprises, Moderna recently reported a profit ahead of schedule. Could this be a sign of better days ahead or just a temporary blip on the radar?
So, should you dive into Moderna stock now that it’s down, or should you avoid it? Well, here’s the answer:
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