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We recently published a list of 10 Firms Drenched in Red Today. In this article, we are going to take a look at where Moderna, Inc. (NASDAQ:MRNA) stands against other firms that are drenched in red today.
Ten companies pulled back on Wednesday, booking hefty losses during the trading session, with investor sentiment weighed down by a flurry of government policies and dismal earnings performance in the last quarter of the year.
Meanwhile, the Dow Jones fell by 1.91 percent, the S&P 500 declined by 1.61 percent, and the tech-heavy Nasdaq dropped 1.41 percent.
In this article, let us take a look at the 10 companies that led a poor performance during the day and explore the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
A scientist surrounded by vials and beakers in a modern laboratory, proudly displaying a vaccine.
Moderna, Inc. (NASDAQ:MRNA)
Pharmaceutical giant Moderna dropped its share prices by 7.82 percent on Wednesday to close at $25.80 apiece as investor sentiment was weighed down by its withdrawal of approval application for its flu and COVID combination vaccine.
According to the company, the withdrawal was due to the anticipated delay in the approval of the shots until next year, amid the need for more data on the flu vaccine. The move followed the Food and Drug Administration’s (FDA) announcement that it would require new clinical trials for approval of annual COVID-19 boosters for healthy people under 65 years old.
In other news, Moderna, Inc. (NASDAQ:MRNA) narrowed its net loss in the first quarter of the year by 17.4 percent to $971 million from the $1.17 billion in the same period last year.
Revenues declined by 35 percent to $108 million from $167 million in the same period last year due to lower vaccination rates, coupled with the continued normalization of COVID into a seasonal commercial market.
For the rest of the year, Moderna, Inc. (NASDAQ:MRNA) said that it is targeting to book revenues between $1.5 billion and $2.5 billion.
Overall, MRNA ranks 8th on our list of firms that are drenched in red today. While we acknowledge the potential of MRNA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MRNA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.