Moderna Stocks Plunge As People Shun New COVID Vaccines

by | Nov 2, 2023 | Headline News

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    Demand for the COVID-19 “vaccines” is plummeting as people move on from the “pandemic”. Because of the lack of demand, Moderna plans to scale down production of the injections.

    Shares of Moderna fell more than 15% in premarket trading Thursday. Moderna’s stock is down more than 57% for the year as of Wednesday’s close, putting the biotech company’s market value at roughly $29 billion, according to a report by CNBC. 

    Moderna posted a net loss of $3.63 billion, or $9.53 per share, for the quarter. That compares with net income of $1.04 billion, or $2.53 per share, reported during the year-ago period.  The company said the loss was primarily driven by $3.1 billion in mostly non-cash charges related to tax allowances and changing its manufacturing footprint. The resizing, which resulted in $1.4 billion in charges during the third quarter, aims to make the company’s COVID-19 vaccine profitable in 2024 and beyond, Moderna CEO Stéphane Bancel said in a statement.

    Moderna has been preparing to inject the entire planet for quite some time and even though the desire to get the “vaccine” has dropped, it’ll still be pushing the shots on as many people as possible.

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    “During the pandemic, we were obsessed about scaling up manufacturing to make as many doses as we could to help as many people as we could. And now that we’re moving into an endemic setting, it is important to resize the company,” Bancel said on CNBC’s “Squawk Box” on Thursday. “We believe that this season seems to be – and we have to be careful with December – but seems to be on track with last year. A little bit ahead of last year if you look at the weekly data,” he told CNBC.

    Moderna is also assuming that those who were brainwashed into taking the vaccine in 2023 will also be crazy enough to get it again in 2024.

    “Our assumption is everyone who has gotten their booster in 2023 will at least get their booster also in 2024 and beyond,” Moderna CCO Arpa Garay said during the earnings call. Garay added that the company expects to see “some increase in the overall Covid market” as patients become more understanding of annual vaccine recommendations.

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