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.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
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