Data News > Moderna Inc. Faces Share Price Drop Following Guidance Cut
- Pomerantz Law Firm is investigating claims on behalf of Moderna, Inc. investors
- S&P 500 dropped as reports highlighted concerns about the U.S. economy
- Moderna shares plunged after earnings report, disappointing Wall Street
- Company slashed its 2024 sales forecast due to lower demand, especially in Europe
- Moderna reported second quarter revenues of $241 million, with a net loss of $1.3 billion
Moderna Inc., a biotech company listed on the NASDAQ exchange under the ticker symbol MRNA, is currently under investigation by the Pomerantz Law Firm on behalf of its investors. The firm is looking into claims related to the company's recent performance in the stock market. Investors who may have been affected by Moderna's recent actions are encouraged to contact Danielle Peyton at newaction@pomlaw.com or by calling 646-581-9980.
The S&P 500 experienced a decline on the first day of August, with concerns arising about the future trajectory of the U.S. economy. This drop was partially attributed to the performance of Moderna, as the company's stock price took a hit following a guidance cut based on soft vaccine demand.
Moderna shares plummeted after the company reported disappointing earnings, causing the stock to break key support levels. The Street did not react positively to Moderna's second-quarter financial results, leading to a significant drop in share price.
As a result of its poor performance in the market, Moderna slashed its sales forecast for the year 2024. The company now expects its product sales, including COVID-19 and respiratory vaccines, to be between $3 billion to $3.5 billion, down from its initial projection of $4 billion. This decrease is primarily due to lower demand in Europe and increased competition in the U.S. market.
In its second-quarter financial report, Moderna revealed revenues of $241 million, but also reported a net loss of $1.3 billion. The company's GAAP earnings per share stood at $(3.33), reflecting a significant loss in profitability.
Moderna Inc. faces a challenging period ahead as it grapples with reduced sales forecasts, lower demand in key markets, and a decline in investor confidence. The company will need to reassess its strategies and offerings to regain momentum in the stock market and rebuild investor trust.
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Moderna Inc. Faces Share Price Drop Following Guidance Cut
By KlickAnalytics Data Insights | August 1, 2024 08:02PM ET
Key Points
- Pomerantz Law Firm is investigating claims on behalf of Moderna, Inc. investors
- S&P 500 dropped as reports highlighted concerns about the U.S. economy
- Moderna shares plunged after earnings report, disappointing Wall Street
- Company slashed its 2024 sales forecast due to lower demand, especially in Europe
- Moderna reported second quarter revenues of $241 million, with a net loss of $1.3 billion
Moderna Inc., a biotech company listed on the NASDAQ exchange under the ticker symbol MRNA, is currently under investigation by the Pomerantz Law Firm on behalf of its investors. The firm is looking into claims related to the company's recent performance in the stock market. Investors who may have been affected by Moderna's recent actions are encouraged to contact Danielle Peyton at newaction@pomlaw.com or by calling 646-581-9980.
The S&P 500 experienced a decline on the first day of August, with concerns arising about the future trajectory of the U.S. economy. This drop was partially attributed to the performance of Moderna, as the company's stock price took a hit following a guidance cut based on soft vaccine demand.
Moderna shares plummeted after the company reported disappointing earnings, causing the stock to break key support levels. The Street did not react positively to Moderna's second-quarter financial results, leading to a significant drop in share price.
As a result of its poor performance in the market, Moderna slashed its sales forecast for the year 2024. The company now expects its product sales, including COVID-19 and respiratory vaccines, to be between $3 billion to $3.5 billion, down from its initial projection of $4 billion. This decrease is primarily due to lower demand in Europe and increased competition in the U.S. market.
In its second-quarter financial report, Moderna revealed revenues of $241 million, but also reported a net loss of $1.3 billion. The company's GAAP earnings per share stood at $(3.33), reflecting a significant loss in profitability.
Moderna Inc. faces a challenging period ahead as it grapples with reduced sales forecasts, lower demand in key markets, and a decline in investor confidence. The company will need to reassess its strategies and offerings to regain momentum in the stock market and rebuild investor trust.
For more information:
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