Following President Joe Biden’s comments that the pandemic is over, shares (or ADRs) of biotechnology company Moderna Inc. (NASDAQ:MRNA) and some other COVID-19 vaccine makers, including Pfizer Inc. (NYSE:PFE), Novavax, Inc. (NASDAQ:NVAX), and BioNTech SE (NASDAQ:BNTX), declined on Monday.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
During the 2022 60 Minutes Interview with Scott Pelly, President Biden said, “The pandemic is over. We still have a problem with COVID. We’re still doing a lotta work on it. It’s– but the pandemic is over.”
These comments have come at a time when the U.S. government is trying to secure COVID-19 funds, amounting to $22.4 billion, from Congress. Notably, the country is dealing with thousands of new COVID-19 cases daily. The President’s comments have drawn criticism from the opposition and some medical representatives as well.
Shares of Moderna lost 7.14% to close at $127.90 on Monday. Further, shares of Pfizer slipped 1.28%, and those of Novavax declined 6.51%. The American Depository Receipts (ADRs) of BioNTech fell 8.6% on Monday.
Read full Disclosure
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue