Why Moderna Was Sinking This Week

The biotech's shares had lost nearly 15% of their value week to date as of mid-afternoon Friday, according to S&P Global Market Intelligence. On Thursday, The Wall Street Journal published an article stating that the government is planning to end its financial support for coronavirus vaccines and COVID-19 treatments. Although the coronavirus is still very much with us, cases in many jurisdictions -- such as the U.S. -- have been dropping, at times precipitously.