Why is $MRNA Trending Today?

This morning, on, there was an increase in the search volume for, $MRNA, Moderna Inc. What happened?

As various pharmaceutical companies are racing to complete their vaccine trials prior to the end of the year, Moderna, $MRNA, has positioned itself as a leader of the pack. Alongside Moderna, Pfizer, $PFE today announced positive early results from its late-stage vaccine trial, reporting more than 90% effectiveness in preventing COVID-19. As a record number of COVID-19 cases were reported this past weekend, Moderna and Pfizer among others saw their stock prices rise nearly 10% with growing optimism over the release of a vaccine very soon.

Of the top five companies researching for a viable vaccine, it has become clear that Moderna and Pfizer are the closest to becoming cleared for emergency use. According to CNBC, Moderna reached a plan in August with the government to supply 100 million doses of its vaccine to American citizens. With the declaration of major breakthroughs throughout the industry by competitors like Pfizer, many economists Moderna are optimistic and bullish regarding Moderna’s stock price in the next few months. Of the 15 ratings given by experts on Robinhood, 12 of them rate Moderna as a “Buy”. With plans to file for emergency use in December, is it reasonable to assume that Moderna will become top dog in a market just waiting to explode? Will other pharmaceutical giants like Johnson & Johnson, Pfizer, or Astra-Zeneca dominate the industry when they release their own version of a COVID-19 vaccine? That much will become clear in the following weeks.

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