Announcement of New Vaccine Earns Millions at Wall Street
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Moderna's stock price skyrocketed as much as 30% on Monday after the biotech company announced promising early results for its coronavirus vaccine, CNN Business reports.
However, Moderna's chief financial officer and chief medical officer executed options and sold nearly USD 30 million of shares combined on Monday and Tuesday.
Moderna's market value swelled to USD 29 billion, even though the company has no marketed products, CNN Business adds.