Moderna shares tumbled nearly 17% on Monday after the drugmaker slashed its 2025 revenue forecast by $1 billion and announced plans to cut $1.5 billion in expenses this year. The company faces challenges balancing rising drug development costs with declining demand for Covid-19 treatments and slow adoption of its RSV medication. The $30 support level aligns with the April 2019 high and March 2020 Covid-era volatility, presenting a potential buying opportunity. Failure to hold this level could lead to a retest of $13, near the December 2018 and August 2019 lows, attracting bargain hunters.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The shares tumbled nearly 70% on Monday after the drugmaker slashed its 2025 revenue forecast
00:08by $1 billion and announced plans to cut $1.5 billion in expenses this year.
00:13The company faces challenges balancing rising drug development costs
00:17with declining demand for COVID-19 treatments and slow adoption of its RSV medication.
00:22The $30 support level aligns with the April 2019 high and March 2020 COVID-era volatility,
00:29presenting a potential buying opportunity.
00:31Failure to hold this level could lead to a retest of $13
00:34near the December 2018 and August 2019 lows, attracting bargain hunters.