Michael Fisher is an active trader and market analyst. He holds a Bachelors degree in Economics from University of Pennsylvania and started his career as a private Forex trader back in 2005.
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Key Moments
Moderna shares opened 14% lower in Frankfurt after the U.S. FDA declined to review its influenza vaccine approval application.
The move came in a low-volume session, amplifying the price reaction in early trading.
Despite the drop, Moderna stock remains up 42% for the year after closing 0.1% higher on Tuesday.
Market Reaction in Frankfurt
Moderna shares came under sharp pressure in Frankfurt trading, opening 14% lower on Wednesday in a session described as having low volume. The decline followed news that the U.S. Food and Drug Administration had refused to review the company’s application seeking approval for its influenza vaccine.
Recent Share Performance
The setback interrupted a strong run for the stock. Moderna shares had finished Tuesday’s session up 0.1%, and remain higher by 42% so far this year, even after the drop seen at the Wednesday open in Frankfurt.
Price and Performance Snapshot
Metric
Detail
Market
Frankfurt
Move at Wednesday open
Shares opened 14% lower
Previous close (Tuesday)
Up 0.1%
Year-to-date performance
Up 42%
Regulatory development
U.S. FDA refused to review influenza vaccine approval application
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