Moderna Inc. Stock Hits Three-Year Low

Shares of Moderna Inc. (MRNA) took a 5.9% beating in afternoon trading on Tuesday, plummeting to a three-year low. This decline marks the company's fifth consecutive day of losses, solidifying its position as the S&P 500's biggest loser for the day. Moderna, a leading biotechnology and COVID vaccine company, has experienced a 17.2% drop during this losing streak, which is the most significant five-day decline since February 24, 2023, when it plunged by 19.2%.

Despite reaffirming its guidance in light of Pfizer Inc.'s (PFE) warning of a revenue shortfall due to a lowered COVID product sales outlook, Moderna's stock still declined by 6.5% on Monday. This downward trend persisted even as Chairman Noubar Afeyan disclosed additional share sales.

Throughout the year, Moderna's stock has endured a total of seven losing streaks lasting at least five sessions. Among these, two lasted for seven sessions each in August and February. With the current trajectory, the stock is on track to reach its lowest close since November 11, 2020. As of now, it has already shed 51.9% of its value year to date, while the S&P 500 has seen positive growth of 13.7%.