Moderna (MRNA) Shares Plunge Nearly 9%
Moderna (MRNA) shares tumbled by approximately 8.9%, falling below $29marking their lowest level since April 2020, when global markets were shaken by the COVID-19 pandemic.
Since the start of 2025, MRNAs share price has declined by around 32%.
Why Did MRNA Shares Drop?
On Monday, MRNA led the decline among US biotech stocks following the resignation of Peter Marks, director of the FDAs Center for Biologics Evaluation and Research. Marks had held this position for over a decade.
During Trumps first term, Marks oversaw the rollout of COVID-19 vaccines and established guidelines for emerging treatments such as cell and gene therapy.
However, in Trumps second term, Robert F. Kennedy Jr. now serves as Health Secretary. According to The Wall Street Journal, Marks criticised Kennedys stance on vaccines in his resignation letter, calling it misinformation and lies.
The pharmaceutical industry was already under pressure amid speculation that Trumps tariff plans could extend to prescription drugs, which are typically exempt from such measures. Marks' departure has further intensified uncertainty regarding regulatory decisions under the new administration.
Technical Analysis of MRNA Shares
The chart indicates that:
The stock remains in a downtrend that began with a sharp drop in August last year (reinforced by the moving average).
Over the past five months, it has been forming a descending channel (marked in red).
The lower boundary of this channel acted as support yesterday.
The formation of higher lows and highs (marked in blue) had given bulls some hope in March 2025. However, yesterdays bearish gap appears to have shattered that optimism.
It is possible that the lower blue trendline and the median of the red channel will act as resistance moving forward, further darkening the outlook for MRNAs share priceespecially given the ongoing negative news surrounding the stock.
Read more: https://fxopen.com/blog/en/oa-moderna-mrna-shares-plunge-nearly-9/
Text source: Forex Trading Blog
